Mthuli Ncube Biography| Age, Education, Personal Life, Academic Career, Finance Minister, African Development Bank, Political Career
Mthuli Ncube serves as Zimbabwe’s Finance Minister in President Emmerson Mnangagwa’s cabinet.
Prior to this role, he held positions as the chief economist and Vice President of the African Development Bank.
Mthuli Ncube was born on 30 November 1964.
Ncube is married and has four children.
He attended Fatima Primary School and later continued his education at Inyathi Secondary School. He completed his A levels at Fletcher High School in Gweru, where he studied Mathematics, Physics, and Biology.
Following his high school education, he pursued a Bachelor of Arts in Economics at the University of Zimbabwe from 1983 to 1985.
Later, in 1987, he obtained his M-Phil in Economics from the University of Cambridge.
Before joining the bank, Mthuli Ncube held various prestigious positions. He served as the dean and professor of finance at Wits Business School and later became the dean of the faculty of Commerce, Law, and Management at the University of the Witwatersrand (Wits).
Additionally, he worked as a finance lecturer at the London School of Economics.
He has authored several award-winning papers and written a range of books, including:
- Mathematical Finance: Option and Asset Pricing,
- South African Dictionary of Finance (as an editor),
- Financial Systems and Monetary Policy in Africa,
- Development Dynamics: Theories and Lessons from Zimbabwe, and
- Monetary Policy and the Economy in South Africa (co-authored with Eliphas Ndou).
Work at the African Development Ban
As the Chief Economist and Vice President of the African Development Bank (AfDB), Mthuli Ncube played a crucial role in overseeing the Economics Complex.
This department focused on knowledge management within the Bank and its partners, along with conducting strategic economic research.
His responsibilities included supervision of the Development Research Department, Statistics Department, and African Development Institute.
Furthermore, as a Vice President, Professor Ncube held a significant position within the senior management team of the Bank.
Mthuli Ncube’s impressive career extends beyond his roles at the African Development Bank. He has served as
- a regulator and board member of the South African Financial Services Board (FSB), responsible for overseeing non-bank financial institutions in South Africa.
- he has held positions as the founding chairman of Barbican and Selwyn Capital,
- worked as a Portfolio Manager and Head of Asset Allocation Strategy at Investec Asset Management.
- He has held the position of Chairman of the Board of the African Economic Research Consortium,
- chairman of the Global Agenda Council on “Poverty and Economic Development” at the World Economic Forum,
- and also served as a governor of the African Capacity Building Foundation.
As Finance Minister of Zimbabwe, Mthuli Ncube assumed office on Friday, 7 September 2018, during President Emmerson Mnangagwa’s administration.
In 2019, he oversaw the conversion from foreign currency to a new Zimbabwean currency, which resulted in the return of hyper-inflation. Due to the challenging economic situation, Ncube suspended the publication of inflation data after June 2019.
However, he later announced that inflation figures for Zimbabwe would be released again in February 2020. The economic policies during his tenure have been subject to both positive and critical assessments.
Mthuli Ncube is eyeing the Cowdray Park parliamentary constituency seat in Bulawayo.
Ncube joined the Government in 2018 as a non-elected Cabinet Minister.
Since then, he has made inroads into becoming an active member of the ruling party, Zanu PF.