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Sunday, September 26, 2021

President Edgar Lungu reverts Dr. Bwalya Ng’andu back to Bank of Zambia

Headlines President Edgar Lungu reverts Dr. Bwalya Ng’andu back to Bank of Zambia

BoZ Deputy Governor Bwalya Ng’andu
Bwalya Ng’andu

President Edgar Lungu has reverted Dr. Bwalya Ng’andu to the Bank of Zambia as Deputy Government-Operations. Dr Ng’andu has been on secondment to the civil service as Permanent Secretary for Mchinga Province.

This is according to a statement released to the media by State House. In a letter addressed to Dr Ng’andu, the president said that there was a compelling need to use monetary policy to stimulate the economy and that it cannot be business as usual at this critical time of both the global and local economy.

“In January last year, you were reassigned to Government as Permanent Secretary. Just as at Bank of Zambia, you have of Deputy of Governor (Operations). This is a critical position especially at a time when we face intractable challenges in both the domestic and global economies. There is a compelling need to use monetary policy to stimulate the economy and it cannot be business as usual,” the President says in a letter to Dr Ng’andu.

“Our government’s proclaimed intention is to lower the interest rates in order for small businesses to access bank facilities has proved futile because the Central Bank has persistently been tightening even when the economic fundamentals suggested the opposite. It is my sincere hope that you will reinforce the Governor and initiate meaningful dialogue with commercial banks to close some avoidable loopholes that induce injurious outflows of our meagre foreign exchange.”


    • Lungu should give Chawama constituency to his wife ESTER. She is obvisiouly going to win it by massive rigging.

      Even his son can take chawama with just a clique of a finger now that ECZ totally under Lungu ‘s control.

      UPND should not even contest it all instead it should focus on the 2016 elections.

      Iyo chawama yapwala mange.

    • I am still disturbed the appointment of Ireen Mambilima

      HH says his election was stolen and has some facts, that have not been investigated. With allegations going back and forth. The president quickly goes and reward then person at the centre of the accusation in Mambilima as a Chief Justice?

      Is she qualified for the position? YES Is the appointment morally correct with the fingers being pointed ? NO

      I don’t like HH and Lungu but Mambilima ‘being rewarded somewhat’?

      I couldn’t sleep last night and was thinking, there is something not quiet right with that appointment and I better share it, being the BB2014 and the torch bearer at LT.

      Am I right?


    • Iwe Mushota ozadabwa. This is typical 21st centuary Zambian style.

      Lungu wants to put some one who will rig the 2016 elections in his favour.

      The name of the game now is get into power through crook or hook. Once there, plan for your survival because anything else matters less than your personal survival.

      Thats what I have seen happening really happening in Zambia over the years because most of these guys go into politics to privatise tax payers’ money and then call themselves business men.

      Only HH gives me hope that he will do things the correct way. Until he gets there and messes up I will continue to support him.

    • Mushota.You should be following Zambian events with a keen mind and strong memory.When the issue of Madam Lombe Chibesakunda came up in Parliament,Hon Jack Mwiimbu who is a reknown and respectable Lawyer currently MP Monze Central Constituency on UPND TICKET counselled late President Sata as to why he could not appoint Deputy Chief Justice Mambulima instead of Lady Chibesakunda who does not qualify due to age.This was way back before this fiasco of HH refusing to accept his defeat.Both timing and reasoning in the appointment of Justice Mambulima is legally and morally correct.

    • @MUSHOTA- HH said himself, “But I exclude Madam Ireen Mambilima from my allegations, she is a reputable woman who I would consider for Chief Justice”- Someone dispute that!

    • In terms of hierarchy, you would say a demotion because he will be reporting to the governor who in turn reports to the permanent secretary finance but obviously he will be earning more money now but with less power.

    • Its not the suitability of mambilima as chief justice but the timing is wrong.It is also moraly wrong for Mambilima to have accepted this appointment soon after a tightly contested election.Mambilima as for sure compromised her credibility.
      As for the appoitment of Dr Ngandu to BOZ is not only mispalced but frustrating because Dr Ngandu is not an Economist and was removed due to non perfomance at BOZ.Taking him back its an insult to BOZ governor and other well trained bankers who were eying to fill this important office.

    • I really like your parse of appointing your team. You’re not in a rush nor are you panicking. Your are just doing things the right way. Keep up and don’t lose it.


    • @Franz – Bwalya Ng’andu is an HR specialist who has worked in banks. He is not a banker, per se, and neither is he a monetary economist as Lungu is misguidedly implying. That’s the reason why Sata’s desire to appoint Ng’andu as Governor was vigorously opposed by the IMF/WB in 2011.

  2. KCM, Lumwana, Lubambe and all Hotels, Lodges and Guest houses in Chingola and Chililabombwe will start retrenching some unlucky staff.

    Investors who are already rich saw a saviour in the name of HH because the unfriendly business environment in the country. But unfortunately, voters especially in Chingola and Chililabombwe forgot about the poverty and hopelessness in their homes and went ahead to vote for PF who have brought so much suffering in these two mining towns.

    Now time has come for the investors to withdraw their investments from Zambia. The people of these two towns will just be yawning, and shouting “pamaka pamaka” with no food on the table.

    Zambian voters are hopeless.

    • you are hopeless. they still need our raw materials and all they will do is reduce on the work force. We the PF GRZ are working hard to see to it that every Zambian can survive. HH has nothing to offer.

    • You are as hopeless as your blog! Did they go to those two towns under UpeND or PF. So what the heck are you talking about? Love Zed or ”gellout”! What has that under 5 of yours with an unshaven head have to offer apart from bragging and thinking that him and only him is the most intelligent Zambian? Losers! Actaully four time LOSERS!

    • We told Zambia needs a God fearing person such EL. Your HH will never make to state house talk of progress now that we are seeing changes in the appointments.

    • Let the PFoolish voters of Chili and Chingola feel the pain of their stoopidity. There’s no sympathy for them. Let them eat their tribe.

  3. Dr Bwalya Ng’andu may have gotten his job back but the fact is the man is not an Economist. There are technocrats within the bank who deserve that job rather than Bwalya Ng’andu. Edgar Lungu must stop these appointments of appeasing people just because they are from a certain region and connected to Bashilubemba. The central bank has failed to manage our economy because of wrong people at the helm. Even Dr Gondwe the bank governor is not qualified for that job. His wife and Kaseba are best of friends and that’s how he got the appointment. We need fellows within the bank who are qualifies and understand the economy to be the ones driving the process. Qualified people are there within BOZ who deserve these positions but they’re always side lined. The kwacha will continue going mad…

    • Very well put Questioner. I have been impressed by some of his appointments but this one is definitely a wrong appointment. Dr. Bwalya Ng’andu is not qualified for the sensitive position of Deputy Governor Operations. It requires someone with a very strong background in Monetary Policy, which he lacks and coupled with Gondwe, they are a complete disaster. Sata was right to remove him from the position to begin with because the guy was ineffective and has no clue what he is supposed to do. I would have preferred that Gondwe be taken out and they bring in Dr. Kalyalya, who is a seasoned Economist with both international and domestic experience. Having served as Deputy Governor of Operations in the Mwanawasa regime. They could have promoted a Bank staff to take over the position.

    • @Questioner and Permalink. Spot on. This guy is a psychologist. He has no clue about economic dynamics, let alone monetary theory. He was okay as perm sec.

  4. I we kea mushota,what is wrong with you? If LAZ has praised EL over the appointment of Mambilima who are you to comment negatively? Even HH himself praised her a lot. She’s been deputy Chief Justice for some time now and was seconded to the ECZ………


  6. Late Sata used power in his appointments. Lungu is using the style of late Mwanawasa. HH will use the Wisdom of God in 2016.

  7. only time will tell, but I am not comfortable. There a lady at BOZ who has worked there for a long time Dr Kankasa? I think she deserved a chance.

    • @Steve – Kankasa is already Deputy Governor Admin. She is not an economist anyway. Just as Ng’andu is not an economist as well. Gondwe is a lawyer. BoZ is headed by non-economists.

  8. What are you congratulating EL for? people havent even started working! This cadre mentality of chimbwi no plan will not help mother Zambia. Lets review his performance at least after 90days

  9. Thank you @Questioner – spot on – the man has a PHD in Industrial psychology (or something to that effect) which is a far cry from being an Economist (a pre-requsite to holding such a post at any Central bank).
    The same goes for Dr. Tukiya Kankasa Mabula.
    Whilst both she and Dr. Ng’andu are accomplished in their respective fields of study, they should not be deputy Governors at BOZ.

  10. @Steve, it is not a question of giving anyone a chance, it should be about the best person for the particular job. And neither the lady Dr nor the re-instated man Dr are the best possible “fit”.

    • So tell me who are the true tribalists?Those that promote tribes men to position of BOZ deputy Governor without correct qualifications for that Job or HH who has been preaching Zambia United and as employed Zambians from every tribe in his companies.This cancer brought by PF is what we are determined to end in Zambia.

  11. Great , job welldone again M r president, at least we are now seeing professionals being appointed to positions they deserve. It pays to go to school. Continue the good job and clean up the mess. The civil servants and the educated world are proud of you 100%. Enough is enough we need to progress.

    • Hibeene Mwinga Economic adviser at State House is Tonga, so Dr. Kalyalya (who is also Tonga) an accomplished economist also former deputy to Fundanga, can equally be appointed as Central Bank Governor. Tribe doesn’t matter in EL’s government.

    • Dr Kalyalya was the best economist and Banker that BOZ has ever had,but because is a Tonga he was pulled out of BOZ.God was sees the cry of his people gave Dr Kalyalya a good international Job at African development Bank were he is CEO for the intire Africa.

    • @ Sido Mark, please do not mislead people. Dr. Kalyalya left BoZ to take up the position of Executive Director at the World Bank. He was not pushed out but nominated by his peers to take up this position. Being Tonga had nothing to do with it. His tenure at the World Bank ended last year and he is back in Zambia. As far as I know, he is not with ADB.

  12. PF is full of mediocrity.

    Things r not ok at the top at BOZ. All three bigs shots are NOT economists and cannot handle the technical work.

    By the way, word is that Bwalya Ngandu was paid by BOZ while in Muchinga.

  13. The problems at the Central Bank mainly have to do with the DGA. The bank is dysfunctional at the moment. The woman has destroyed the Bank and it is very sad that she has been given another contract. Insiders at the bank can tell you that she has outlived her usefulness, is extremely divisive and unpopular. The board is toothless, visionless, misinformed and shows very little understanding of the problems at the Central Bank. The recent restructuring intended to make the bank more efficient and flat actually ended up creating a big bureaucracy at the top. A layer of Senior Directors was created between the positions of DGO and Directors. This is a scandal but everyone has pretended everything is fine. A lot of wrongs things have gone on at the bank from the time of Fundanga.

  14. @Mushota ignorance of your type is dangerous. the reason mr lungu appointed mambilima chief justice was to kill three birds with one stone. 1. we had two deputy chief justices mumba and mambilima. the only reason we survived was because mambilima was at ecz. otherwise we were going to have two women quarreling over an office. none of them could be demoted or fired. sata made that boob. you know sata could get away with anything. 2.we also had an acting chief justice who did not qualify on account of age. 3. we had no chief justice. mambilima qualifies to chief justice. she is also more senior than Florence mumba who was ignorantly appointed by mr sata. by elevating mambilima and retiring chibesakunda all these three problems vanish. hh has no evidence by the way

  15. @OneZed mediocrity is in your posting. Clearly you are talking about things you don’t know. that is a character flow. read @forBozEmployee he/she has a lot of specific insight. Any fo0l can run BOZ as long as they are educated enough. you don’t necessarily have to be an economist. there are economist who do the technical work whose effectiveness I keep doubting anyway! Look Bwalya Ng’andu should be governor.

    • @Poster, do you realize that Dr. Bwalya Ng’andu was rejected as Governor by the International Development Agencies for the very reason that he was not qualified for the position? Sata tried to impose him but there was strong push back from the donor community and rightly so. He is not qualified to hold the position and most donors will not just stand by to allow fiscal and monetary policy in a country to go wrong. The position requires an Economist with a strong Monetary Policy background. Dr. Ng’andu is qualified to do other things but certainly not be the Governor of the Central Bank.

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