Sunday, June 23, 2024

President Edgar Lungu swears in New Finance Minister


President Edgar Lungu has this morning sworn in Bwalya Ng’andu as Minister of Finance taking over from Margaret Mwanakatwe who was dropped last evening.

Speaking during the swearing in ceremony at State House in Lusaka today, President Lungu said he reserves the right to substitute anyone to ensure quality service delivery in his administration.

The Head of State urged the newly sworn in Minister of Finance to coordinate and work closely with other government officials, as he discharges his duty as Minister.

President Lungu said he is confident that Dr. Ng’andu has the competence to work as Minister of Finance having served for many years at the Bank of Zambia and in many other portfolios locally and internationally.

Dr. Ng’andu has previously served as Managing Director of the Development Bank of Zambia, Managing Director of the National Savings and Credit Bank (NATSAVE) and Director General of the Zambia Investment Centre among other portfolios.

The President noted that having served as Permanent Secretary for Luapula Province, Dr. Ng’andu will not struggle in his new role and has since cautioned him against complacency, saying he will expect nothing but the very best from him.

And President Lungu has encouraged Dr Ng’andu to remain committed to duty, and ensure that he remains focused on pushing the developmental agenda in the positive direction.

President Lungu yesterday nominated Dr. Ngandu as a Member of Parliament by revoking the nomination of Patriotic Front (PF) Deputy Secretary General Mumbi Phiri as nominated Member of Parliament.

Dr. Bwalya Ng’andu is a Doctor of Philosophy in Economics, he holds a PHD in Applied Psychology from Cranfield University in the United Kingdom (UK) and a Masters of Science in Economics from the University of London as well as a BA in Psychology and Business from the University of Zambia.

The new Minister of Finance also holds professional qualifications in a number of institutions, including the Fellow of the Chartered Institute of Bankers from the UK, Fellow of the Zambia Institute of Banking and Financial Services, Fellow of the Zambia Institute of Human Resources as well as a representative of the Zambia stock exchange.

ZANIS reports that until his appointment, Dr. Ng’andu held the position of Bank of Zambia Deputy Governor.

Speaking shortly after being sworn in, Dr. Ngandu said he will continue from where his predecessor left, by ensuring that he restores the fiscal health of the economy.

He said all the economic measures that the former Minister of Finance announced, such as debt contraction and continue with the implementation of various projects.


    • I hope this new finance minister knows he is not allowed to be his own man.

      He is not paid to think, but to follow Lungu, who clearly has no vision.

      He better be prepared to allow the PF thieves to continue looting the treasury, otherwise his term in office will last for a grand total of…one year.

    • I wish he could inform the public why she was dropped, but it is his right to inform or not to inform and to choose who ever he wants to serve as Minister
      Good move on also dropping useless MP (dull)Mumbi Phiri ..

    • All these education stuff about Bamudala Ba Bwalya is not important. What is important is that he is a good leader who should act as president. Marggie ubwalwa bwalichilamo.
      It has been extremely hard to find an acting President, at one time that dirty Chama acted, that was an insult to Zambians.

    • Mumbi is the loser.
      She didn’t speak in parliament and she fired. Feels like used in a 1 night stand, after a drinking spree.
      Give her a diplomats job again.

    • ++ Lungu is moving at the speed of light, no wasting time.

      Anyway, Well done Mr President. !!!

      Mwanakatwe was appointed By RB ( Rupiah Banda ). And now fired by Edgar C. Lungu.

      RB can give wisdom and advise to Lungu, but not for him to dictate how Lungu leads the ship. Its just creates more problems.

      Its about time Lungu stood on his feet. Truthfully RB helped him to become the president. But RB should not hold a hand in the running of the nation.

    • At least the man is articulate and talking the language we understand …not some drunkard talking nonsense in some silly accent about Zambia exporting Mukula, Gold etc to pay off Chinese $10 billion debt on Bloomberg.
      BR JUNIOR call your aunty when she sobers up

    • Mumbi was a vessel whose purpose was to service Lungu.

      Malegeni yasila manje.

      How many zed men stick to the same vessel for years?

    • @Jay Jay … I have already voiced my concerns but once the Presidents appoints someone, I have to respect his decision.

      I also have to wish Dr. Ng’andu here well. I want him to succeed and help bring prosperity, sanity, equity and leverage so that all the people of our smart Zambian Enterprise succeed.

      I am for that reason rooting for him to succeed, if he does we all succeed as a nation. As for Margaret, I also wish here well in the next chapter of her life.

      @INDEPENDENT OBSERVER … Natotela on the other comment.

      Let’s roll … epo mpelele,


  1. Congrats Bwana but you have a very huge task ahead of dismantling Zambia’s debt($10bn).Life’s so funny. Your former boss now will be reporting to you

    • Only that his former boss will still be paid x times more than him, and he will still sign on the kwacha notes and still chair the MPC and he won’t be able to fire him. So the Governor is still very powerful!

    • Zambia’s problem are the incompetent PF regime and the appalling leadership of one Lazy Lungu…we need ar change in State House just too many careless decisions did we not tell the moron to appoint technocrats to oversee the KCM debacle no he went and appointed a former primary school teacher, Amos Chanda and Kaizer now the sh&t has hit the wall he comes running back to appoint people who are knowledgeable in the real world leaders like him are sacked on the spot.

  2. He’s more stable and focused than Maggie. however the real problem is PF financial indiscipline.
    I pray that he will have the courage to guide the political riff raffs in government.

    • Already Luo is pushing for K10 million payment from finance for overpriced CCTV system when the University is falling apart, students have been denied allowances, lecturers have not been paid…who would this man from BOZ put a foot on that when the boss is inept and incompetent.

  3. How on earth are some questioning his qualification for the job. People need to check facts before airing views to the public. As far as his CV goes, he’s undoubtedly highly suited for the job. Well meaning Zedians please guard against malicious people.

  4. Ba Bwalya imwe muli manu.Dont dine with the riff rafs who thrive on retiring civil servants in national and public interests to get to be noticed.They are a sad lot

    • Now she can drink and dance in her Lusaka Central constituency even go to parliament and sleep at Parliament Bar

  5. Mumbi Phiri is not fired.She has just been dropped to create space for another nominated member of parliament. The president has a threshold of number of member of parliament to appoint according to constitution.Had he appointed Dr Bwalya ngándu minus dropping one nominated member of parliament,he would have abrogated the constitution. He created space for Dr Bwalya Ngándu by dropping one member of parliament. Mwanakatwe is an elected member of parliament whilst Mumbi Phiri has no constituency. The president was afraid of breaching the constitution by making another nomination which would have made the number he is entitled to nominate to go up.

    • @Sakala,that is what is called discretion in appointment. A president can even nominate you minus being questioned. He has the powers. He can drop and appoint any ministers. He has those powers at his disposal. No one will question him. That is why we need to trim certain powers from the president so that it is devolved to people. Unfortunately,we take constitution formulation and implementation with no seriousness at all. The powers of the president is in the constitution we take lightly.

  6. I totally agree with people who are saying a chain of degrees and other academic papers and positions held do not matter at all. What matters is one’s achievements. So we should be looking at Dr. Ng’andu’s achievements and performance everywhere he served

  7. Qualifications won’t take him anywhere.Let him control the economy. Let him see how he can
    Raise forex levels .Let him try to bring IMF back into negotiating table.

    • Bring back IMF to talk about what? I am the new Finance Minister and I am going to introduce Austerity like the minister before me and the previous minister before her….really laughable. PF have a serious leadership problem

  8. You can tell how UPND people want ECL and his new appointment to fail so badly. Just look at they comments… Its all negative. Whether the man is qualified it doesn’t matter etc. Really laughable. Do you people want whats best for Zambia or its all about HH being President??

  9. Under upendi. President will also finance minister. Home affairs minister. Minister of justice. Minister of defence. Minister of foreign affairs. He is a know-it-all

    Have you ever heard any profound upnd ideology at any punlic fora.

    When even katuka speaks its not policy issue rather criticism.

    Even lt upendi resident blogger are as clueless as katuka. They dont inspire all

    24/7 singing lungu is a thief. Lungu is corrupt. China . Zaffico. Mukula. Thats the only role they play in upendi and they attack anyone speaking against their leader

    Upendi is a ONE man project.

  10. This is just a revolving door this guy is not going to do anything at all. The patient is in intensive care critical but not stable.

  11. You see how easily excited people get by a mere appointment like the dude is going to make our debt go away or stop lungu from spending millions on useless travel. This dude alone is not going to do anything miraculous if lungu and his party don’t stop stealing. Mugabe also appointed smart people but they failed because of his financial mismanagement

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