Situmbeko Musokotwane (born 25 May 1956) is a Zambian politician and economist serving as the Minister of Finance of Zambia since 2021; he is also the Member of Parliament for Liuwa. Prior to his appointment he served as Minister of Finance from 2008 to 2011 under

Rupiah Banda Rupiah Bwezani Banda (19 February 1937 – 11 March 2022) was a Zambian politician who served as the fourth president of Zambia from 2008 to 2011, taking over from Levy Mwanawasa. Banda was an active participant in politics from early in the pres ...

Education and career

Musokotwane is PhD holder in

Monetary Economics Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions (as medium of exchange, store of value, and unit of account), and it considers how m ...

obtained from the Konstanz University in

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

. In 1988 he founded an agri-business one of Zambia’s largest dairy farming operations. He has also acted as an alternate

Governor A governor is an politician, administrative leader and head of a polity or Region#Political regions, political region, in some cases, such as governor-general, governors-general, as the head of a state's official representative. Depending on the ...

at the

IMF The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of la ...

African Development Bank The African Development Bank Group (AfDB, also known as BAD in French) is a multilateral development finance institution, headquartered in Abidjan, Ivory Coast since September 2014. The AfDB is a financial provider to African governments and ...

, and the

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

. He introduced the central bank in Zambia to

Open market operations In macroeconomics, an open market operation (OMO) is an activity by a central bank to exchange liquidity in its currency with a bank or a group of banks. The central bank can either transact government bonds and other financial assets in the open ...

and the re-introduction of Treasury Bills and Government securities auctions in Zambia. As Finance Minister during

's presidency, he was active in the promotion of Zambia as an investment destination which brought a 7.6% growth in Zambia’s economy and generated US$6 billion over a 3 year term. After being assigned as the Finance Minister under

's presidency (2008-2011), he was assigned as the Finance Minister for the second time after the 2021 general election by President

Hakainde Hichilema Hakainde Hichilema (born 4 June 1962), often known by his initials HH, is a Zambian businessman, farmer, and politician who is the seventh and current president of Zambia since 24 August 2021. After having contested five previous elections in ...

References

External links

National Assembly of Zambia profile
Living people 1956 births Ministers of finance of Zambia Members of the National Assembly of Zambia United Party for National Development politicians Zambian economists University of Konstanz alumni University of Zambia alumni {{Zambia-politician-stub