HARARE – Professor Mthuli Ncube has replaced Patrick Chinamasa as Zimbabwe’s Minister of Finance as President Emmerson Mnangagwa announced his new cabinet this afternoon.
Prof Ncube is expected to drive the new Government’s drive towards economic revival.
Prof Ncube is a financial, economics, investment, and public policy expert and has vast experience and worked in the private sector, public sector, academia, and international financial institutions.
Observers says his extensive experience and know-how will go a long way in restructuring Zimbabwe’s economic landscape.
Prior to this latest appointment Prof Ncube was the managing director of the Quantum Global Research Lab AG, in Switzerland which advises companies on investment in Africa, and advises African government on economic policy-making.
He developed the “Africa Investment Index” which ranks African economies on investment attractiveness.
Prof Ncube served as vice president and chief economist of the African Development Bank Group (AfDB) where was able to give the bank a coherent strategy and agenda for the first time in a long while.
He was recommended and supported by the various Governments of SADC and East Africa, for the position at the African Development Bank Group.
He has a strong background in economics and finance, and banking. He led the strategic thinking within the bank on economic development issues for the entire African continent.
Zimbabwe’s new Finance Minister guided the development of the Bank’ 10 term Strategy (2013-2022) and was a member of the senior management team at AfDB. He represented the AfDB in most outside engagements and spokesperson on economic/development issues.
He was Chairman of Operations Committee (Approving Investment Projects and Operations) for the bank in 2011-2012.
And he was the Chair of the Advisory Panel on Ethics and Anti-Corruption for the AfDB in 2012.
He is a member of the Advisory Council for World Economic Forum (WEF) on Sustainable Infrastructure, and Chairman of the WEF Global Agenda Council on sustainable development.
Prof Ncube holds a PhD in Economics (Mathematical Finance) from Cambridge University in the UK.