I WISH to congratulate Mr. Christopher Mphanza Mvunga on his appointment as Governor of the Bank of Zambia (BoZ).
Mr. Mvunga, an Accountant by profession is a Fellow of the Association of Chartered Certified Accountants and also a Fellow of the Zambia Institute of Chartered Accountants..
Mr. Mvunga takes over from Dr. Denny Kalyalya. This follows the dismissal of the latter by President Edgar Lungu on August 22, 2020. Mr. Mvunga has vast experience in the banking industry, having worked for more than a decade. Standard Chartered Bank Africa is one of the notable financial institutions he has worked for. And this is not a mean achievement per se.
If this is not good enough, the new Governor of the central bank served as Deputy Minister of Finance and National Planning from 2015 to 2016. He also served as Deputy Secretary to the Cabinet in charge of Finance and Economic Development.
Mr. Mvunga is assuming the position of BoZ chief at the time the country is undergoing economic challenges. The poor economic performance of the country can be attributed to the Covid-19 which has devastated the economies of many countries across the globe.
Low volume of export and the plummeting price of copper at the London Metal Exchange (LME), among others can also be attributed to the country’s economic quagmire. In this vein, it is correct to state here that there is a lot of expectation from Mr. Mvunga as the new Bank of Zambia Governor.
Going by Mr. Mvunga’s professional qualifications as a Chartered Accountant coupled with his vast experience in the banking industry, I am optimistic that he will be equal to the task. Ultimately, he will deliver to people’s expectations.
To achieve this objective, there is need for support from everyone at the Bank of Zambia.
All said and done, let me hasten to state here that the appointment of Mr. Mvunga by President Edgar Lungu is the right decision and the former deserves the appointment.