Zambian President, Edgar Lungu has sacked Finance Minister Margaret Mwanakatwe, his office said in a statement on Monday. Bwalya Ng’andu, central bank deputy governor, will take over as finance minister, the statement stated.
However, the statement did not give any reasons why she was sacked. The Zambian leader, however, thanked the sacked finance minister on her services rendered to the government since her appointment in February 2018.
The new finance minister has previously served in high profile positions both in government and the private sector. He was the managing director of the Development Bank of Zambia, National Savings and Credit Bank and director-general of the Zambia Investment Centre.
There has been pressure from stakeholders for the Zambian leader to finance minister, with stakeholders accusing her of failing to manage the economy.