Situmbeko Musokotwane (born 25th May 1956) is a Zambian politician and economist serving as the Minister of Finance of Zambia since 2021; he is also the Member of Parliament for Liuwa.
In this post, I’ll walk you through the biography of Situmbeko Musokotwane, his date of birth, early life, education, career family and more. Without further Ado, let’s get into it.
Early Life and Education
Musokotwane was born in Kalomo, Zambia, on May 25, 1956 (67 Years Old). He received his early education at Kalomo High School and later attended the University of Zambia, where he earned a Bachelor of Arts degree in Economics in 1979. He then went on to pursue postgraduate studies at the University of York in the United Kingdom, where he obtained a Master of Arts degree in Monetary Economics in 1981 and a Doctorate in Monetary Economics in 1984.
Career
Musokotwane began his career as an economist in the Zambian government, working at the Ministry of Finance and National Planning. He also held positions at the Bank of Zambia and the Zambia National Commercial Bank.
In 2008, Musokotwane was appointed Minister of Finance and National Planning under the presidency of Rupiah Banda. During his tenure as Finance Minister, he played a key role in promoting Zambia as an investment destination and oversaw a period of significant economic growth. He also implemented a number of reforms aimed at improving the country’s fiscal discipline and economic competitiveness.
After stepping down as Finance Minister in 2011, Musokotwane worked as a consultant for the International Monetary Fund and other international organizations. He also served as a board member of several companies, including the Zambia National Commercial Bank and the Zambia Revenue Authority.
In 2021, Musokotwane was appointed Minister of Finance and National Planning once again by President Hakainde Hichilema. He is currently leading the government’s efforts to address Zambia’s economic challenges and implement its economic recovery plan.
Political Career
Musokotwane has been a member of the United Party for National Development (UPND) since its founding in 1998. He was elected to the National Assembly as the Member of Parliament for Liuwa in 2016 and was re-elected in 2021.
Personal Life
Musokotwane is married and has three children.
Awards and Recognition
Musokotwane has received numerous awards and recognitions for his contributions to economic development in Zambia. These include:
- The Africa Leadership Award for Excellence in Finance and Economic Management (2010)
- The Global African Business Award for Finance Minister of the Year (2011)
- The Euromoney Finance Minister of the Year Award for Sub-Saharan Africa (2011).
Net Worth
Based on publicly available information, Situmbeko Musokotwane’s net worth is estimated to be around K116,020,000 (approximately USD $682,000) as of 2023. This information comes from his declaration of assets and liabilities, which all cabinet ministers in Zambia are required to submit annually.
Here’s a breakdown of his declared assets:
- Land and buildings: K82,656,842
- Investments: K22,920,000
- Vehicles: K6,400,000
- Cash: K4,043,158
