President Edgar Lungu has appointed Bank of Zambia Deputy Governor, Dr Bwalya Ng’andu as Finance Minister and nominated him to Parliament.

In a statement Issued to Money FM News by Special Assistant to the President
Press and Public Relations Isaac Chiampa says the President has since terminated the appointment of Margaret Mwanakatwe, as Minister of Finance.

And Mr Chipampe said the President has also revoked the nomination of Mrs Mumbi Phiri as Member of Parliament.

“In a letter addressed to Dr N’gandu, dated 13th July, 2019, His Excellency the President writes, “ IN EXERCISE of the powers vested in me under Article 69(1) of the Constitution of Zambia, I hereby nominate you as Member of Parliament and subsequently appoint you as Minister in the Ministry of Finance, pursuant to Article 116(1) and (2) of the Constitution of Zambia,” Mr Chipampe said.

Mr Chipampe said the appointment of Dr Bwalya N’gandu is with immediate effect.

“In a letter addressed to Ms Mwanakatwe, the President thanked the Lusaka Central Member of Parliament for services rendered to the Government of the Republic of Zambia and wished her well in her future endeavors,” He said.

“ In exercise of powers vested in me under the provisions of Article 92 (2) (e) read with Article 270 of the Constitution of the Republic of Zambia and Section 26 of the interpretation of the General Provisions Act CAP 2 of the Laws of Zambia, I hereby terminate your appointment as Minister of Finance,” the letter from His Excellency the President, dated 13th July, 2019 to Mrs Mwanakatwe reads.

In a letter to Mrs Phiri, dated 13th July, 2019, “the President writes that he has revoked her nomination as Member of Parliament with immediate effect.

Mr Chipampe says the Head of state has also constituted a team to of Members of Parliament to be led by Kantanshi Member of Parliament Anthony Mumba to be part of the Konkola Copper Mines negotiating team that already comprises Government officials.

He said the wants transparency in the process and the team will also include unions and chambers of commerce.