Mpinganjira was unveiled at a function held in Blantyre after the team’s directors held its first board meeting.
This is coming at a time when the process of transforming the football club from a community team to a limited liability company has been completed.
The team’s chairman Chancy Gondwe lauded those who took part in the process of turning the club into a limited company before highlighting that the process was a pathway to the commercialisation of the club.
“This is what we have been waiting for, finally the day is here. The process has begun and we want serious commercialisation of the club,” Gondwe said.
In his remarks, Mpinganjira said he had accepted to lead the ship after being approached by the Taskforce formed to bail out the team from its dire financial status.
He expressed excitement on being trusted to chair the commercialisation drive of the club. He added that for him as a born Wanderers supporter, the appointment was a great honour.
“Let me confirm here that I have accepted the choice made by the Taskforce,I will now be serving as the president of the club. My interest came after reading newspapers that Wanderers got to the stage that it may be disbanded and fold up due to financial constraints as players were not receiving their monthly salaries hence I joined the race in paying players from early this year.