Walter has shown promise since joining City from Zimbabwe's FC Platinum in January, making three league starts and netting once in the Nedbank Cup.
"He [Walter] is a brilliant boy. He has got some nice touches," Maluleke tells KickOff.com.
"He looks lazy but he is not lazy. You can enjoy watching him on the field of play. I believe there is still more to come from him."
The 21-year-old faces a tough ask to emulate fellow striker Knowledge, who was a big hit in two spells at Kaizer Chiefs before eventually settling at Belgian topflight side K.V. Oostende.
Maluleke adds: "That's the part we have to understand because now people are comparing him to his brother. That's the pressure they have been giving to the boy. But I spoke to him [and told him] to relax and enjoy his football."