Zambia's Central Bank Governor Christopher Mvunga Resigns

Zambian President Hakende Hachilema announced on Tuesday the resignation of Central Bank Governor Christopher Mvunga, and the appointment of Paul Chanda Kabuswe as the new Minister of Mines and Minerals.

The President's office said in a press release that Hechilema appointed the Central Bank's Deputy Governor for Operations Francis Chipimo to be the Governor of the Central Bank after Mvunga's resignation.

The statement added that Kabuswe, Member of Parliament for Chililabombwe is expected to be sworn in on Wednesday.

Africa's second-largest copper producer is grappling with a prolonged debt crisis, which Hichilema, who won a landslide election victory last month over President Edgar Lungu, has promised to resolve it.

On Tuesday, Stanley Kakubo was sworn in as foreign minister and Silvia Masebo as health minister, while Former Finance Minister Felix Mutati has been selected as Minister of Technology and Science.