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

President Lungu has terminated the appointment of Margaret Mwanakatwe as Minister of Finance.

Meanwhile, President Lungu has revoked Mumbi Phiri’s nomination as Member of Parliament.

This is according to a statement issued by Special Assistant to the President for Press and Public Relations Isaac Chipampe, Sunday.

In a letter addressed to Dr N’gandu, dated 13th July, 2019, President Lungu wrote, “ 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. The appointment is with immediate effect.”

Dr N’gandu will be sworn in tomorrow at 09:00 hours.

And in a letter addressed to 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 endeavours.

“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,” read the letter.

Meanwhile, President Lungu has 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.

President Lungu says he wants transparency in the process and the team will also include unions and chambers of commerce.