By JOHNSTONE CHIKWANDA
Following his appointment as new Bank of Zambia Governor, there has been some dissent sentiments in some sections of society and social media. Slurr is being cast on almost anyone who gets appointment.
An unfair comparison is being made between outgoing Bank of Zambia Denny Kalyalya and in coming Bank of Zambia Governor Hon Christopher Mvunga. First and foremost, I admire Governor Kalyalya; he has had an illustrious career and has contributed immensely to Zambia and the world at large. Therefore, it is advisable that he should not be vilified or ostracized by the media.
A couple of years ago, I sat with him Business Class of South Africa from Johannesburg to Lusaka; we talked a lot of about energy markets and gave me very good advice some of which still remains valuable todate.
With regard to Hon. Christopher Mvunga, a lot of people do not know the actual person. He likes carrying himself simple, basic and very socially pliable and can come down and play soccer with you and spend time laughing and he listens a lot. In fact he likes consultations a lot, signoff and alignment. Many people who have been bruised, got bruised because they took him lightly based on basic narratives which appear around him in social media when he is having fun with his friends and family. I remember when both of us where living in Johannesburg, South Africa, he would host big events at this residence and invite hundreds of Zambia’s at his house for relaxation and fun and then we would start dancing and he wanted everyone dancing. And wanted to know everyone by name. He has a wonderful wife and family.
However, on a professional side, he is extremely deep and broad. He is very intelligent and deadline driven. He is one of the few civil servants whom I know who has an extraordinary sense of urgency and so deadline driven. At one time I called him and told him, “sir I don’t like what is going on in the energy sector-it is a nexus of national financial bleeding. This has to stop” He said, “come we hold a meeting “. I could tell the depth of seriously and commitment and action points which were being taken and implemented. He is also very passionate about reforms in the Energy Sector because this is the area where we have been bleeding as a country. Hon Mvunga is a former Deputy Minister in the Ministry of Finance which supervises the Bank of Zambia. He is immediate Deputy Secretary to the Cabinet in Charge of Finance and Economics. He is coming from the banking and financial sector where he held alpha level positions in both in Zambia and South Africa. Please lets give him chance. Mvunga will prove his critics wrong. Lets not personalize positions. He has such a strong praxis of leadership and gravitas when he sets his hands to the plough. This man has a history of almost sleeping in the office until work gets done from what we hear from those close to him.
With the support of the staff at Bank of Zambia and smooth transition, he will perform beyond expectations. But I can forewarn the lazy, those who talk a lot and get little done, and those who have insufficient sense of urgency, those who frustrate leadership and make things hard for them, are not going to have it easy at Bank of Zambia. He wants this done and done like yesterday. And in any case, no matter how educated and experienced a Central Bank Governor is, his success depends on several factors internal and external.
Several African and European economies are have gone through doldrums even with the best Central Bank Governors in Place. Even here in Zambia, we have had some of the best Bank of Zambia Governors but we still went through significant challenges. As a country we have Vision 2030 to pursue. We have the Seventh National Development Plan (7th NDP) which is informing, guiding, directing and mentoring the developmental aspirations of our country. And Hon Mvunga was heavily involved in consultations, and validations workshops with developmental stakeholders at promulgation stage of 7th NDP and its implementation. He is well vested with Part II of the 7th NDP which talks about Macroeconomic Framework-Towards economic stabilization and growth, fiscal policy, monetary and financial sector polices. He was part and parcel of the architects of the 7th NDP. Let him drive. He is also part of the travelling party to the World Bank and IMF and elsewhere all the time. He is current.
I would like to encourage to pay a lot of attention to energy sector and its impact on our economy. Much of the bleeding has been because of energy poverty in the country both at electricity sector and petroleum subsector.
Interesting perspective
This Johnson Chikwanda is bootlicker like Yali…these people have no shame whatsoever
Un ashamed PF bootlicker.
As an appointee at Indeni Oil Refinery, Mr Chikwanda is only remembered for a corruptly awarded tender to supply energy saving bulbs.
Oil refinery vs Energy saving bulbs.
What do expect from a PF cadre.
It is normal to have what we call haters when you are doing well in life. The wise ones try and learn from those who have made something out of their lives while the low lives continue spreading hate and jealousy.
We wait and see for sure
Well said, let’s give him a chance to prove us wrong, on any case, no matter how much we lament, the appointing authority has already moved on, he’s been to visit crocodiles ( sic),in sinazongwe and now luapula for four days, campaigning the most part. Let’s see how Mvunga will release the 10billion Kwacha stimulus fund which Sunday Chanda accused his predecessor to have been hoarding.
How many chances did we give you missatanyocco yenu?
Drunk after drunk peace of idyots.
Getta-fvck-out of my Zambia phykkala fyenu.
How many chances did we give you missatanyocco yenu?
Drunk after drunk peace of idyots.
Getta-fvck-out of my Zambia phykkala fyenu.
If I was Mr. Christopher Mvunga, the last people I would want to listen to or get advice from are “tenderpreneurs” like Mr. Johnstone Chikwanda. It seems that Mr Chikwanda has already been lobbying Mr. Mvunga to intervene in his (Chikwanda’s) energy sector deals. Now, it might be looting time! Shame!! Mr. Chikwanda, stop asking people to give your friend Mr. Mvunga time. How much more time do you guys need while the economy is run down? You have ruined this economy beyond recognition. If Mr. Lungu was serious about replacing Dr. Kalyalya, there is a wealth of very well qualified professionals with the right surnames (because it is a criteria for PF), with extensive central banking experience, right there at Bank of Zambia. To have those highly qualified individuals reporting to Mr…
Sat in business class from Johannesburg to Lusaka, primitivity chabe. And how do you know he will perform well. I just feel we close the country and decide what next
To have those highly qualified individuals reporting to Mr. Mvunga is at best an insult. These highly qualified economists at BOZ apparently cannot be trusted to deliver the promised K10 billion for PF campaigns (covid -19 relief, presidential economic fund, etc) because they have careers and integrity to protect. On the other hand, Mr. Mvunga (whose qualification for the job is already being questioned even before he enters that big office) must surely know which side of his bread is buttered. He can in short be relied on to either print the currency or draw down the already depleted reserves. For the Zambians, we should all lie back and watch in horror as the kwacha begins its rollercoaster ride now till 2021 and beyond!.
Mr chikwanda is damn right. Lets give mr mvunga space and chance to execute his job.
Judge him on his performance
Don’t experiment with monetary policies. A bank governor is a serious job not for chakolwas like Edgar Lungu.
Bring back Caleb Fundanga he has been tested and those the people who can leave a good successor.
PF must has failed!
How much time have we given the clueless drunk in state house? Keep your opinion about this other drunk to yourself.
The Appointing Authority has already said Revenue Collection to the Treasury has sharply declined. So Chris Mvunga’s priority is to print or borrow Money to finance Govt Expenditures. With Elections in August 2021 Chris will have to quickly mobilise both local currency and foreign exchange to finance those Elections. The writing is on the wall.
I reserve the right to not predict anything , but currency futures are very accurate relying on a battery of complicated algorithms and constants , right now the Kwacha has not improved with this appointment
Kkkkkkkkkkk ati give him chance? u don’t foresee the future yours is wat benefits u now. Bwana you are destroying this Country day in day out and I can assure u that it will be very painful for u wen u come back to your senses and see the damage u are inflicting on this our Country. Remember u have Children and grand Children wat kind of Zambia would u leave them in?
https://cointelegraph.com/news/us-printed-more-money-in-one-month-than-in-two-centuries/amp
Political circus pa Zed….popcorns pliz !
Of course let him have his chance, however my measure of hope is when the Kwacha starts making significant gains against the US Dollar! There is always a period of uncertainty for the unknown when a change is effected, as regards central banks even the bourse experiences trading distortions.
@ Kaizar Zulu, you make an interesting observation which also makes me to wonder why you don’t apply the same reasoning for HH. Apart from no factual data court shy accusers, HH seems to have done very well for his life as a black Zambian to qualify as mentor to younger investors! Kaizar you have stated well a blemish that a lot among Zambians must be cleansed for sanitized politicking to prevail!
It is sad that so much energy is wasted on water that is already under the bridge. Mvunga is BoZ governor what are you going to do for yourself? That is the important question you need to answer. If you can’t ask yourself that and give a satisfactory answer you might as well ignore your existence!! Mvunga is sorted and his happiness doesn’t depend on you. What will be your contribution to fix the economy as he does his thing whatever that is?
Ati we sat in business class, very childish
I was in economy on the same day on the plane and we arrived at the same destination. Childish indeed
Wooo wooo. Nostradamus bro! Cool & calm down. Lest you burst!!!!! Why stress yourself on things you have no control & can’t change.
What is the governor going to prove when he brings nothing to the table and besides the less than a year left before elections will be a learning experience for him. By the time he has something to prove he will be out of there with his appointing authority. People have the right to be concerned and its genuine concern considering that the man has zero central bank experience. Let’s be realistic you cannot expect a duck taste like a chicken
Only time will tell. The exchange rate is currently at K19.45 to $1. We shall see what your superhero will do. We shall see whether your superhero will release the stimulus package.
With a sharp decline in Revenue Collection, at the Treasury, increased total Expenditures, unsustainable Debt and declining Forex Reserves ,Chris Mvunga has his work cut out. Reckless and excessive printing of money is highly inflationary. So very soon we will see skyrocketing prices of goods and services and a sharp depreciation of the Kwacha to the USD. Forex Reserves will decline and the Economy will be in a free fall. Christopher Mvunga welcome to the Real World of Economics unlike Politics.
It is like waiting to be proven wrong when one has added 2 to 2 and give the answer as 5.
Weather you like it or not, you will give Mvunga a chance to work. He has been appointed and sober minded people like me will judge him on his performance and not who has appointed him or the tribe of the person he has taken over from.
QUOTE: I remember when both of us where living in Johannesburg, South Africa, he would host big events at this residence and invite hundreds of Zambia’s at his house for relaxation and fun and then we would start dancing and he wanted everyone dancing. And wanted to know everyone by name. He has a wonderful wife and family.
THAT’S ONE RICH RESUME.
QUOTE; I remember when both of us where living in Johannesburg, South Africa, he would host big events at this residence and invite hundreds of Zambia’s at his house for relaxation and fun and then we would start dancing and he wanted everyone dancing. And wanted to know everyone by name. He has a wonderful wife and family.
THAT’S ONE RICH RESUME.
Sometimes Zambians are too quick to judge without any basis. No one is coming out to show where Christopher Mvunga has failed in the line of his professional duties. In times like this one when things are fragile, the worst thing the appointing authority can do is to put a non-performer in BOZ. Banangwa let us just give this man a chance to work in his new appointment then evaluate his performance later or else we are just wasting our time.
I recall we gave chance for some one to be an ambassador based on appointment by virtue of marriage. Uhm he ended up dancing his appointment away and indeed slept in the office in a drunken stupor.
Once upon a time , in a sh!t hole country, there was a drunk woman who became the minister of finance. She was called Auntie Dizzy and apparently was a well qualified ‘Accountant’. What did she achieve? Nothing! She was reading the budget speech in a stupor.
Now you have another drunk Bookkeeper as BOZ governor. You get what you deserve!