‘ED has brought the right for­mula’

The Sunday Mail (Zimbabwe) - - OPINION/NEWS - Dr Gift Mugano

Pres­i­dent Em­mer­son Mnan­gagwa gave us re­newed hope af­ter ap­point­ing a new Cab­i­net that is made up of sea­soned pro­fes­sion­als and tech­nocrats.

In re­cent weeks, I em­phat­i­cally asked our Pres­i­dent to ap­point sea­soned pro­fes­sion­als and tech­nocrats into Cab­i­net.

To be spe­cific, I called on the Pres­i­dent to ap­point an econ­o­mist as Min­is­ter of Fi­nance and Eco­nomic De­vel­op­ment.

In the same vein, I an­tic­i­pated to see tech­nocrats oc­cu­py­ing key min­istries such as Mines and Min­ing De­vel­op­ment; and Higher and Ter­tiary Ed­u­ca­tion, Sci­ence and Tech­nol­ogy De­vel­op­ment.

Rightly so, Pres­i­dent Mnan­gagwa ap­pointed Pro­fes­sor Mthuli Ncube, Win­ston Chi­tando, and Prof Amon Mur­wira as Min­is­ters of Fi­nance, Mines and Higher Ed­u­ca­tion re­spec­tively.

Although I can­not ex­haust all the min­is­ters ap­pointed by the Pres­i­dent, it is fit­ting to say that the ap­point­ments to all re­spec­tive min­istries is well thought.

Moreso, the size of the Cab­i­net is lean and rel­e­vant.

Yes, the ma­jor highlight was the ap­point­ment of Prof Mthuli Ncube as the Min­is­ter of Fi­nance and Eco­nomic De­vel­op­ment.

The Prof Ncube is cur­rently MD and head of Quan­tum Global Re­search Lab (Switzer­land), part of Quan­tum Global Group, the largest pri­vate eq­uity group ded­i­cated to in­vest­ing in Africa.

Quan­tum Global Re­search Lab con­ducts in­vest­ment re­search and ad­vises pri­vate sec­tor and pub­lic sec­tor clients on Africa and African pol­icy mak­ers.

He leads a team of re­searchers who re­search African economies, point­ing to where in­vest­ment op­por­tu­ni­ties and risks lie and link­ing these to the ever-chang­ing global economy.

He has de­vel­oped an In­vest­ment In­dex for Africa.

Prof Ncube was Pro­fes­sor of Pub­lic Pol­icy at the Blavat­nik School of Gov­ern­ment, Oxford. He is the for­mer VP and chief econ­o­mist of the African De­vel­op­ment Bank Group, and is ranked as a top eco­nomic thinker in Africa and glob­ally.

He is also the HSBC distin­guished Pro­fes­sor of Bank­ing and Fi­nance at the Grad­u­ate School of Busi­ness Ad­min­is­tra­tion (Wits Busi­ness School), Univer­sity of the Wit­wa­ter­srand, on a part-time ba­sis.

Prof Ncube holds a PhD in Eco­nom­ics (Math­e­mat­i­cal Fi­nance) from Univer­sity of Cam­bridge on “Pric­ing op­tions un­der sto­chas­tic volatil­ity”.

He started his ca­reer as a lec­turer in Fi­nance at The Lon­don School of Eco­nom­ics. He has been the Dean of the Fac­ulty of Com­merce, Law and Man­age­ment, and also Dean and Pro­fes­sor of Fi­nance at Wits Busi­ness School, all at Univer­sity of Wit­wa­ter­srand in South Africa.

He founded the Cen­tre for En­trepreneur­ship at Wits Univer­sity.

He has ex­ten­sive ex­pe­ri­ence as an in­vest­ment man­ager and in­vest­ment banker, hav­ing worked at In­vestec As­set Man­age­ment and Quan­tum Global Group.

He served as board mem­ber of the South African Fi­nan­cial Ser­vices Board, chair­per­son of the Na­tional Small Busi­ness Ad­vi­sory Coun­cil, chair­per­son of the Board of African Eco­nomic Re­search Con­sor­tium in Kenya, board mem­ber of the Global De­vel­op­ment Net­work, board mem­ber of the Royal Africa So­ci­ety and Lon­don, board mem­ber of OMFIF, Lon­don.

He has pub­lished numer­ous books, pa­pers and ar­ti­cles in the area of eco­nom­ics and po­lit­i­cal economy and fi­nance.

He is a reg­u­lar com­men­ta­tor in me­dia such as the BBC, Econ­o­mist, Fi­nan­cial Times, Wall Street Jour­nal and Sun­day Times.

Hav­ing a per­son in the form of Prof Ncube as a Min­is­ter of Fi­nance, who is a global au­thor­ity in eco­nom­ics, gives us peace of mind that our tax pay­ers’ money is in safe hands.

We have high ex­pec­ta­tions that he will be able to come up with prac­ti­cal so­lu­tions to the fis­cal con­straints, debt over­hang, cash cri­sis, et cetera.

Let me end by ap­plaud­ing our Pres­i­dent for be­ing a lis­ten­ing Pres­i­dent.

Dis­claimer: The re­sume of Prof Ncube was ex­tracted from Oxford Univer­sity web­site.

◆ Dr Mugano is an author and ex­pert in trade and in­ter­na­tional fi­nance. He has suc­cess­fully su­per­vised four doc­tor­ate can­di­dates in the field of Trade and In­ter­na­tional Fi­nance, and pub­lished over 25 ar­ti­cles and book chap­ters in peer re­viewed jour­nals. He is re­search as­so­ciate at Nel­son Man­dela Univer­sity, Reg­is­trar at Zim­babwe Ezekiel Guti Univer­sity and Di­rec­tor at Africa Eco­nomic De­vel­op­ment Strate­gies. This ar­ti­cle was ex­tracted from Dr Mugano’s up­com­ing Book ti­tled: Trade lib­er­al­i­sa­tion Para­dox: How Africa Must Re­spond. Feed­back: +263772541209 and gmugano@ gmail.com

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