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.