Finance Minister Situmbeko Musokotwane has appointed six (6) members to become part of the reconstituted Board of Directors of the Bank of Zambia.
These are Mrs. Sarah Sally Tembo (Audit Specialist), Professor Douglas Kunda (Systems Specialist), and Dr. Patricia Nchimunya Shansonga-Kamanga (Lawyer).
Others are Mr. Caesar Cheelo (Economist) and Mrs. Pamela Kasese Bwalya (Economist) including Mr. Shebo Nalishebo (Statistician).
The appointments of the above persons bring the total number of Board Members to eight as provided in the Bank of Zambia Act – two of whom are Dr Denny Kalyalya, Governor of the Bank of Zambia and Chairman of the Board as provided for under 13 (1) (a) of the Act; and, Mr Felix Nkulukusa, Secretary to the Treasury, Board member in accordance with Section 13 (3) of the Act.
Dr Musokotwane has since congratulated the new Board Members, wished them success, and urged them to provide the Bank of Zambia with the guidance and leadership needed to ensure a stable monetary and financial system for the Zambian economy.
Below is the full statement
BANK OF ZAMBIA BOARD MEMBERS APPOINTED
Pursuant to Section 13 (1) (b) of the Bank of Zambia Act, Cap 360 of the Laws of Zambia, the Minister of Finance and National Planning, Dr Situmbeko Musokotwane, MP, has appointed six (6) members to become part of the reconstituted Board of Directors of the Bank of Zambia.
These are:
-
- Mrs Sarah Sally Tembo (Audit Specialist);
- Professor Douglas Kunda (Systems Specialist);
- Dr. Patricia Nchimunya Shansonga-Kamanga (Lawyer);
- Mr Caesar Cheelo (Economist);
- Mrs. Pamela Kasese Bwalya (Economist); and,
- Mr Shebo Nalishebo (Statistician).
The appointments of the above persons bring the total number of Board Members to eight (as provided in the Bank of Zambia Act – two of whom are Dr. Denny Kalyalya, Governor of the Bank of Zambia and Chairman of the Board as provided for under 13 (1) (a) of the Act; and, Mr Felix Nkulukusa, Secretary to the Treasury, appointed to the Board as provided for under Section 13 (3) of the Act.
The Minister has congratulated the new Board Members, wished them success, and urged them to provide the Bank of Zambia with the guidance and leadership needed to ensure a stable monetary and financial system for the Zambian economy.
We should have someone qualified in Banking and Finance or Bank Organization, not just economists
All the best team boz
@1 Taonga
The Central Bank is an Economics institution rather than a Banking one. Especially if we’re talking on a decision making level, where the board is at. I’m also sure this board has technocrats such as directors working beneath them with banking knowledge and experience who will offer advice and guidance if need be.
But I also get your point. Having at least one banker could have been even better, Nevertheless, not having one is an issue of it being less ideal rather than bad. I do not think it is something of concern, really.
The Minister of Labour should also up her game. Why has she left institutions like Napsa and Workers Compensation without boards? It is not health for institutions to run without the head. This creates bottlenecks in corporate governance. All decisions in these institutions are stalled because of laissei-faire attitude from this minister. She needs to be advised that institutional direction depends on board of directors.
‘Below is the full statement’ and it is exactly the same as the statement above kikkikikkikikikiki
Bringing in his own stooges.
CONGRATS TO SHEBO NALISHEBO WITH WHOM WE SURVIVED “DR KUNDA” UNTIL WE GRADUATED. BEST WISHES TO YOU.
Politicians should not meddle in the affairs of institutions. Law needs to be changed so that board of directors is appointed by competent expertise. It defeats the whole purpose of corporate governance.Appointees becomes compromised in order to appease the hand that appointed them.No wonder, professionalism is thrown in a bin of mediocrity. This should stop. Institutions are supposed to run independently minus a hidden hand from politicians.
You should have also appointed Pamela gondwe and faith musonda because those two knows how to seal the loopholes.