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Margaret Mwanakatwe

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Margaret Mwanakatwe
Minister of Finance
In office
14 February 2018 – 14 July 2019
PresidentEdgar Lungu
Preceded byFelix Mutati
Succeeded byBwalya Ng'andu
Minister of Commerce, Trade and Industry
In office
2 February 2015 – 14 February 2018
PresidentEdgar Lungu
Preceded byRobert Sichinga
Succeeded byChristopher Yaluma
Managing Director of United Bank for Africa[1]
In office
March 2009 – May 2011
Preceded byPost established
Succeeded byFrans Ojielu
Managing Director of Barclays Bank of Ghana PLC
In office
2004–2009
Preceded byKobina Quansah
Succeeded byErnest Debrah
Managing Director of Barclays Bank of Zambia
In office
2001–2008
Preceded byIan Knapman
Personal details
Born (1961-11-01) 1 November 1961 (age 63)
Northern Rhodesia
NationalityZambian
SpouseMupanga Mwanakatwe[2]
EducationAssociation of Chartered Certified Accountants
(Chartered Certified Accountant)
Alma materUniversity of Zambia
(Bachelor of Business Administration)
ProfessionSenior bank executive
Known forBusiness, management

Margaret Mhango Mwanakatwe is a Zambian politician who was the Minister of Finance from 14 February 2018 to 14 July 2019. She worked previously as a businesswoman, accountant, and bank executive. She was the director for business development in Anglophone Africa at the United Bank for Africa at the bank's headquarters in Lagos, Nigeria. In this role, she supervised business development in Cameroon, the Democratic Republic of the Congo, Ghana, Kenya, Liberia, Mozambique, Tanzania, Uganda, and Zambia.[1] Before that, she served as the managing director and chief executive officer of the United Bank for Africa Uganda Limited from March 2009 until May 2011.[1]

Overview

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Mwanakatwe is a business executive and banker, with a professional career spanning over twenty years. She has been a banking chief executive in her native Zambia, Ghana, and Uganda and a senior executive at the United Bank for Africa (UBA) in Nigeria.[3]

Background and education

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She was born in Northern Rhodesia on 1 November 1961.[4] She holds a Bachelor of Business Administration degree. She is also a Chartered Certified Accountant, recognized by the Association of Chartered Certified Accountants of London.[4]

Career

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Following education both in Zambia and abroad, she took up employment at Barclays Bank of Zambia (now Absa Bank Zambia Plc). She rose to the position of managing director. She was the first Zambian and first female chief executive at Barclays Bank of Zambia. She was also the first woman CEO in all of Barclays Bank's African subsidiaries at the time.[5] In 2004, she was appointed managing director and CEO at Barclays Bank of Ghana, serving in that capacity until 2009.[5][6]

In 2009, she left Barclays Bank and joined the UBA as managing director and chief executive at UBA Bank Uganda.[7] During the same timeframe, she served as the regional business director for southern Africa for UBA.[8] In 2011, she left UBA Uganda and transferred to the headquarters of UBA in Lagos, Nigeria as the director for business development in Anglophone Africa.[1]

Politics

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On 2 February 2015, Mwanakatwe was nominated Member of Parliament and appointed Minister of Commerce by Zambia President Edgar Lungu.[3] She was elected as Member of Parliament for Lusaka Central Constituency, which was previously held by Guy Scott.[4]

On 4 February 2018, in a cabinet reshuffle, she was appointed Minister of Finance.[9] With the Zambian economy struggling a number of key projects have stalled, Mwanakatwe's extensive experience in banking provides her with relatively reasonable experience to add value to the Ministry of Finance, restore investor confidence and to create new economic partners. In her role as Minister of Finance, Mwanakatwe tasked her department to work effectively in order to ensure that the ministry satisfies the expectations of the electorate.[10]

In a meeting held on 20 February 2018, the minister requested that her team formulate a plan to offset domestic arrears in a systemic manner. Additionally, in this meeting she directed officials to formulate a sustainable plan to pay salaries to public service workers on time and commended the team for its commitment to improving domestic resource mobilisation.[11]

She was relieved of her duties as Finance Minister by President Lungu on 14 July 2019.[12]

Family

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Margaret Mwanakatwe is married to Mupanga Mwanakatwe, who serves as the managing director of Zamtel, the state-owned telecommunications company.[2]

See also

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References

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  1. ^ a b c d Vision Reporter (19 June 2011). "United Bank for Africa to get new Managing Director". New Vision. Kampala. Archived from the original on 27 June 2019. Retrieved 8 September 2016.
  2. ^ a b Lusaka Times (26 July 2015). "Minister of Commerce Margaret Mwanakatwe has defaulted on CEEC loan-Tayali". Lusaka Times. Lusaka, Zambia. Retrieved 18 October 2021.
  3. ^ a b Kelvin Chongo (3 February 2015). "Margaret Mwanakatwe appointed minister". Zambia Daily Mail. Lusaka, Zambia. Retrieved 18 October 2021.
  4. ^ a b c Parliament of Zambia (2 February 2015). "National Assembly of Zambia: Margaret Mhango Mwanakatwe". Parliament of Zambia. Lusaka. Retrieved 8 September 2016.
  5. ^ a b Accra Daily Mail (6 July 2004). "Ghana: Barclays Ghana Appoints New Managing Director". Accra Daily Mail. Accra, Ghana. Retrieved 18 October 2021.
  6. ^ Ghana News Agency (18 November 2006). "Government to release $20m from MCA to SMEs". Ghana News Agency. Accra Ghana. Retrieved 18 October 2021.
  7. ^ Daily Monitor (1 February 2010). "UBA: Two years down the road" (Interview). Daily Monitor. Kampala. Retrieved 18 October 2021.
  8. ^ Myjoyonline (26 January 2009). "Former Barclays boss Margaret Mwanakatwe joins UBA". Modernghana News. Accra, Ghana. Retrieved 18 October 2021.
  9. ^ Chris Mfula; Mfuneko Toyana (14 February 2018). Andrew Heavens; Hugh Lawson (eds.). "Zambia's President Lungu appoints new finance, mining ministers". Reuters.com. Retrieved 18 October 2021.
  10. ^ Benedict Tembo (19 February 2019). "Cabinet Reshuffles Tactical". Zambia Daily Mail. Lusaka, Zambia. Retrieved 18 October 2021.
  11. ^ Zambia Ministry of Finance (February 2018). "Prepare for IMF – Honorable Mwanakatwe tells Ministry of Finance officials". Ministry of Finance (Zambia). Lusaka, Zambia. Retrieved 18 October 2021.
  12. ^ Chris Phiri (15 July 2019). "Zambia: Lungu Drops Mwanakatwe". Zambia Reports. Lusaka, Zambia. Retrieved 18 October 2021.
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