Cambridge Trust alumnus appointed Finance Minister of Zimbabwe
Cambridge Trust alumnus, Professor Mthuli Ncube was last month appointed Minister of Finance and Economic Development of Zimbabwe by President Emmerson Mnangagwa.
Mthuli was supported by the Trust for his MPhil in Economics at Selwyn College (1986-87) with a Livingstone ODA Scholarship. He then returned to Selwyn for his PhD in Economics (1989-92) with the support of a Cambridge Commonwealth Trust Scholarship.
Prior to his appointment, he was Head of Research at Quantum Global Group. A renowned industry expert in macroeconomics, development economics and finance, Mthuli was formerly Chief Economist and Vice President of the African Development Bank Group.
He has also held the posts of Professor of Public Policy, University of Oxford; Lecturer in Finance at the London School of Economics as well as Dean and Professor of Finance, Wits Business School, South Africa. Mthuli is also the author of 11 books and several research papers.
Mthuli was in Cambridge in June this year giving a keynote address at the ‘Africa Together 2018: Pathways for a New Africa’ conference when he shared his views on the economic outlook for the Continent and the opportunities ahead with students, academics and government officials.
In his new role, he has been tasked by President Mnangagwa with addressing the severe economic problems faced by Zimbabwe, which include lack of foreign investment, high unemployment, hyperinflation and large debt arrears to the World Bank and the African Development Bank.
“I have taken over the immense responsibility of leading the revival of the Zimbabwe economy as Minister of Finance and Economic Development for the country. The aim is to move Zimbabwe to an upper middle income country by year 2030,” he explains.
“The job of Minister of Finance demands the use of all my experiences honed in academia, the private sector, and public policy. One has to balance competing needs and stakeholders, both internal and external.
“I launched the Transitional Stabilisation Programme (TSP) in early October 2018 as a roadmap for restoring economic stability.
“I still remember my time at Cambridge with fondness and some of my best and lifelong friendships were forged there. Although I had stints as an academic at the University of Oxford, where I remain a Visiting Professor, and at LSE and Wits University (South Africa), my heart remains firmly in Cambridge among the draping ferns along the Backs on the Cam.
“I am eternally grateful to the Cambridge Trust and Selwyn College, for the scholarship I received to study at Cambridge. It was a worthy investment in Africa and Zimbabwe in particular. I call upon corporates and high net worth individuals to support the Cambridge Trust in order to enable it to invest in Africa’s future human capital.”