Parliament has unanimously ratified President Edgar Lungu’s appointment of Christopher Mvunga as Bank of Zambia (BOZ) Governor replacing Denny Kalyalya.
This came to light when PF Msanzala MP Peter Daka presented moved a motion to adopt the Report of the Parliamentary Select Committee appointed to scrutinise the Presidential appointment of Mr Christopher Mphanza Mvunga to serve as Governor of the Bank of Zambia, for the Fifth Session of the Twelfth National Assembly, laid on the Table of the House on Wednesday, 30th September, 2020.
Mr. Daka says all security agencies were satisfied that Mr. Mvunga is highly qualified and fit to be Bank of Zambia Governor.
Seconding the motion, Kantanshi Independent MP Anthony Mumba says President Lungu made the right choice.
Leader of the Opposition in Parliament and Monze Central MP Jack Mwiimbu, UPND Bweengwa MP Kasautu Michelo, Livingstone MP Mathews Jere, Liuwa MP Situmbeko Musokotwane, also debated the motion.
Finance Minister and former BOZ Deputy Governor Bwalya Ng’andu brings to the table understanding latest technology in line with the fast changing technology adding that he is focused on delivering results.
Justice Minister Given Lubinda says Mr. Mvunga was not BOZ Governor when the Kwacha collapsed for the opposition to make an issue out of his appointment.
Home Affairs Minister Steven Kampyongo condemned the UPND for championing ethnic emotions in Parliament even when the appointees meet the constitution of Zambia.
Livestock and Fisheries Minister Nkandu Luo says the new Governor will instill confidence in the international community especially that he was trained abroad in America and Europe.
MMD Serenje MP Maxwell Kabanda says Mr. Mvunga has a wealth of experience and multi -skilled.
PF Kanchibiya MP Martin Malama says the appointment of Mr. Mvunga has met the requirements of the Republican Constitution.
Feira MP Steven Miti says Mr. Mvunga has local and international experience adding that the appointee was seen as a strategic thinker and a reservoir of knowledge to run BOZ.
*BACKGROUND INFORMATION ABOUT NEW GOVERNOR MR. CHRISTOPHER MVUNGA*
Mr Mvunga, is immediate past Deputy Secretary to Cabinet in charge of Finance and Economic Development.
According to the constitution, a person holding the office of Governor must have the following qualifications;
He or she must have specialised training and experience in economics, finance, accounting, banking, law or other field relevant to banking, as prescribed; and a person of proven integrity.
Below are the qualifications and past work experience of Mr. Mvunga;
> Fellow of the Zambia Institute of Chartered Accountants and the Association of Chartered Certified Accountants (ACCA- UK).
> Qualified as an Associate Member of both ZICA and ACCA in 1994 and progressed to a Fellow in 1999.
> Worked for Deloitte and Touche from 1988 to 1993 as a Senior Auditor.
> Joined DevCorp Business Consultants from 1993 to 2002, a local Zambian Consultancy firm as Director: Corporate Finance. Gained extensive experience ranging from Company Valuations, Receiverships/Liquidations, Raising capital for a number of local and multi national companies, rendered investment advisory services and facilitating strategic planning sessions for clients.
> Qualified as an Associate Member of both ZICA and ACCA in 1994 and progressed to a Fellow in 1999.
> Worked for Deloitte and Touche from 1988 to 1993 as a Senior Auditor.
> Joined DevCorp Business Consultants from 1993 to 2002, a local Zambian Consultancy firm as Director: Corporate Finance. Gained extensive experience ranging from Company Valuations, Receiverships/Liquidations, Raising capital for a number of local and multi national companies, rendered investment advisory services and facilitating strategic planning sessions for clients.
> Joined Standard Bank from 2002 to 2011 as a Product specialists in personal markets.> Undertaken extensive travel across Africa, Europe and USA resulting in exposure to international business environment.
> Specialties: Pricing Strategies: Measuring, Capturing and Retaining Value.
> Joined Stanard Chartered Bank in November 2011 as Africa Region Head, Network Management responsible for Correspondent Banking relationship, Wholesale Banking.