Opinion: Give Social-Smart Mvunga Chance To Prove Himself; His Social Life Has Nothing To Do With His Job At BoZ


President of the Republic of Zambia Dr Edgar Chagwa Lungu yesterday made a decision to relieve Dr Denny Kalyalya of his duties as Bank of Zambia Governor.
The Head of State, with immediate effect, appointed Deputy Secretary to the Cabinet Christopher Mvunga to replace Dr Kalyalya. The changes which were confirmed last night by State House have, however, been received with mixed feelings. While others think the decision by the President has come at the right time considering the continued fall in the Kwacha against major convertible currencies, others think Mr Mvunga is the worst pick, questioning his capabilities on the fact that he is not an economist, like Dr Kalyalya who served in different positions at BoZ itself and as executive director at the World Bank Group. Unlike Dr Kalyalya, Mr Mvunga is a Chartered Accountant (ACCA). He held various executive positions in big Banks such as Standard Chartered Bank and Standard Bank. His experience with big banks has obviously played a key role in the decision made by the Head of State. It is too early to doubt him for now.

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