Tito Mboweni under fire over Zambia’s Central Bank Governor

The president Cyril Ramaphosa reprimanded the Minister of Finance, Tito Mboweni, following comments made by the Minister on social media regarding the removal of Zambia’s Central Bank Governor by President Edgar Lungu.

Lungu has terminated Bank of Zambia governor Denny Kalyalya’s contract this passed weekend with immediate effect, without giving any explanation.

Tito Mboweni, am ex governor of the SA Reserve Bank, tweeted over the passed weekend that, “Presidents in Africa must stop this nonsense of waking up in the morning and fire a Central Bank Governor! You cannot do that. This is not some fiefdoms of yours! Your personal property?! No!!”

In another tweet which has since been deleted, Mboweni said that he is promising to mobilize if not given reasons why the Central Governor has been fired by President Lungu.

In a press statement, the president Ramaphosa has assured the government and people of the Republic of Zambia that the unfortunate remarks do not reflect the views of the South African Government and its people.

“The issue is being addressed to ensure that such an incident does not occur again.”

The president has expressed that South Africa and Zambia enjoy strong historical relations dating back to the days of the struggle against apartheid. South Africa remains committed to maintaining the deep and solid bonds of friendship between the peoples of South Africa and Zambia.

In a second tweet from Mboweni, he tweeted that he stands by his statement.

“Looks like I am in trouble about my statement on the dismissal of the Bank of Zambia Governor. I stand by my statement. Central Bank independence is key. Not negotiable. Let all central bankers speak out,” tweeted Mboweni.

Some people came to light defending Mboweni on his statement.