Mthuli Ncube

Mthuli Ncube
Ncube in 2018
Minister of Finance and Investment Promotion of Zimbabwe
Incumbent
Assumed office
10 September 2018
PresidentEmmerson Mnangagwa
Preceded byPatrick Chinamasa
Personal details
Born (1964-11-30) 30 November 1964 (age 59)
Bulawayo, Southern Rhodesia
NationalityZimbabwean
Alma materCambridge University

Mthuli Ncube (born 30 November 1964),[1] is the Finance Minister in the Zimbabwe cabinet appointed by president Emmerson Mnangagwa[2] and past chief economist and Vice President of the African Development Bank.[3][4] He holds a PhD in Mathematical Finance from Cambridge University. On 7 September 2018, President Emmerson Mnangagwa announced Zimbabwe's new cabinet where he named Professor Mthuli Ncube as the Finance Minister.[5]

In the 2023 Zimbabwean general election, Ncube lost the newly created seat of Cowdray Park to Pasho Raphael Sibanda from the Citizens Coalition for Change.[6][7]

Academic career

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Before joining the bank, he was dean and professor of finance at Wits Business School and then dean of the faculty of Commerce, Law and Management at the University of the Witwatersrand (Wits) as well as a lecturer in finance at the London School of Economics.

He has published a number of award-winning papers[citation needed] in the area of finance and economics as well as a number of books including, Mathematical Finance: Option and Asset Pricing;[8] South African Dictionary of Finance (editor);[9] Financial Systems and Monetary Policy in Africa;[10] Development Dynamics: Theories and Lessons from Zimbabwe;[11] and Monetary Policy and the Economy in South Africa (with Eliphas Ndou).[12]

Ncube is currently a visiting professor at the University of Oxford.[13]

Work at the African Development Bank

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Ncube was the Chief Economist and Vice President of the African Development Bank (AfDB).[13] As Chief Economist, he oversaw the Economics Complex, which is focused on the process of knowledge management within the Bank and with its partners, and general strategic economic research within the Bank. In this regard, he supervised the Development Research Department, Statistics Department and African Development Institute. As a vice president, Professor Mthuli Ncube was a member of the senior management team of the Bank and contributed to its general strategic direction.[5]

Other work

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Ncube was also a regulator and a board member of the South African Financial Services Board (FSB), which regulates non-bank financial institutions in South Africa, founding chairman of Barbican and Selwyn Capital and worked for Investec Asset Management as a Portfolio Manager and Head of Asset Allocation Strategy.[13]

Ncube has also been chairman of the Board of the African Economic Research Consortium,[14] chairman of the Global Agenda Council on "Poverty and Economic Development" (World Economic Forum) and a governor of the African Capacity Building Foundation.[15]

Finance Minister

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Ncube was appointed Finance Minister of Zimbabwe on Friday 7 September 2018 under President Emmerson Mnangagwa's government.[2][5] In 2019, he presided over the conversion from foreign currency to a new Zimbabwean currency, and the resultant return of hyper-inflation.[16][17][18] Ncube suspended publishing inflation data after June 2019,[17] and in October 2019 he indicated inflation figures for Zimbabwe would again be released in February 2020.[16]

Personal life

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Ncube is married and has four children or more.[14]

Notes and references

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  1. ^ The journal Africa Confidential lists his birth date as 30 November 1964 "Mthuli Ncube". Blackwell Publishing. Retrieved 5 March 2020.; although the entry at "Ncube, Mthuli, 1963-". Library of Congress. Retrieved 28 September 2014. uses 1963.
  2. ^ a b Dzirutwe, MacDonald (7 September 2018). "Zimbabwe's Mnangagwa names ex-banker Mthuli Ncube finance minister". Reuters. Archived from the original on 8 September 2018.
  3. ^ Clark, Meagan (15 January 2014). "Sweden's H&M Sets Sail For Africa". International Business Times. Archived from the original on 22 January 2014.
  4. ^ "Africa's Middle Class Spearheads Economic Growth". International Monetary Fund. 26 December 2013. Archived from the original on 5 January 2018.
  5. ^ a b c "Mnangagwa names #ZimCabinet, appoints African Development Bank Vice President Prof Mthuli Ncube as Finance Minister". Celeb Gossip News. 7 September 2018. Archived from the original on 7 September 2018.
  6. ^ Muzavazi, Shakespeare (24 August 2023). "ZANU PF candidate locks borehole after losing to CCC; as Mthuli Ncube loses in Cowdray Park". Zw News Zimbabwe. Retrieved 25 August 2023.
  7. ^ "No, Mthuli Ncube has not won Cowdray Park seat". www.thezimbabwean.co. Retrieved 25 August 2023.
  8. ^ Ncube, Mthuli (2010). Mathematical Finance: Option and Asset Pricing. Sandton, Johannesburg, South Africa: Heinemann. ISBN 978-0-7962-3386-8., no reviews found.
  9. ^ Wuite, Rudy (2009). Ncube, Mthuli (ed.). South African Dictionary of Finance. Northcliff, South Africa: Rollerbird Press. ISBN 978-1-920334-02-4.
  10. ^ Ncube, Mthuli (2008). Financial Systems and Monetary Policy in Africa. Nairobi, Kenya: African Economic Research Consortium. ISBN 978-9966-778-30-7., no reviews found.
  11. ^ Ncube, Mthuli (1991). Development Dynamics: Theories and Lessons from Zimbabwe. Aldershot, Haunts, England: Avebury. ISBN 978-1-85628-087-7., no reviews found.
  12. ^ Ncube, Mthuli; Ndou, Eliphas (2013). Monetary Policy and the Economy in South Africa. London: Palgrave Macmillan. ISBN 978-1-137-33414-5.
  13. ^ a b c "Mthuli Ncube, visiting professor 2017–2020". University of Oxford. Archived from the original on 29 October 2018.
  14. ^ a b "Mthuli Ncube, Vice President and Chief Economist" (PDF). Distinguished Lecture Series. Johannesburg, South Africa: Vibrant Media. 2012. Archived (PDF) from the original on 9 January 2016.
  15. ^ "Mthuli Ncube". IGC. Retrieved 4 November 2020.
  16. ^ a b Mordasov, Pavel (9 October 2019). "The Return of Hyperinflation in Zimbabwe". Mises Wire. Auburn, Alabama: Mises Institute. Archived from the original on 11 October 2019.
  17. ^ a b Amin, Haslinda (22 January 2020). "At More Than 500%, Zimbabwe's Ncube Sees Inflation Stabilizing". Bloomberg News. Archived from the original on 26 February 2020.
  18. ^ Vinga, Alois (26 January 2020). "Ncube scorned for Davos claims Zim economy recovering". New Zimbabwe. Archived from the original on 26 January 2020.
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