Margaret Mwanakatwe

Margaret Mwanakatwe
Born	(1961-11-01) November 1, 1961 Northern Rhodesia
Occupation(s)	Politician, businesswoman, accountant, banking executive
Years active	1980s–present
Known for	Minister of Finance of Zambia (2018–2019), CEO roles in banking across Africa

Margaret Mhango Mwanakatwe is a prominent Zambian political figure who held the position of Minister of Finance from 14 February 2018 until 14 July 2019. Before entering politics, she built a career as a businesswoman, accountant, and senior banking executive. Mwanakatwe served as the director responsible for business development across Anglophone Africa at the headquarters of United Bank for Africa in Lagos, Nigeria, where she managed operations in countries including Cameroon, the Democratic Republic of the Congo, Ghana, Kenya, Liberia, Mozambique, Tanzania, Uganda, and Zambia. Additionally, she was the managing director and CEO of United Bank for Africa Uganda Limited from March 2009 to May 2011.

Overview

With over two decades of expertise, Mwanakatwe is an accomplished business executive and banking professional. Her leadership experience spans CEO roles in banking institutions across Zambia, Ghana, and Uganda, alongside senior management positions at the Nigerian-based United Bank for Africa (UBA).

Background and education

Born on 1 November 1961 in Northern Rhodesia, she earned a Bachelor of Business Administration degree and is a qualified Chartered Certified Accountant through accreditation by the London-based Association of Chartered Certified Accountants.

Career

Following her education both domestically and internationally, Mwanakatwe joined Barclays Bank of Zambia (currently operating as Absa Bank Zambia Plc), where she advanced to the role of managing director. She made history as the first Zambian and female to serve as CEO at Barclays Bank of Zambia, as well as being the inaugural female CEO among all Barclays African subsidiaries at that time. From 2004 to 2009, she held the position of managing director and CEO at Barclays Bank Ghana.

In 2009, Mwanakatwe transitioned from Barclays to UBA, assuming leadership as managing director and CEO of UBA Bank Uganda. Simultaneously, she fulfilled responsibilities as regional business director for southern Africa within UBA. By 2011, she relocated to UBA’s headquarters in Lagos, Nigeria to take on the role of director for business development across Anglophone Africa.

Politics

On 2 February 2015, President Edgar Lungu appointed Mwanakatwe as Member of Parliament and Minister of Commerce. She later secured election as Member of Parliament for Lusaka Central Constituency, succeeding Guy Scott.

During a cabinet reshuffle on 4 February 2018, she was named Minister of Finance. Facing economic challenges and stalled key projects in Zambia, her extensive banking background was seen as instrumental in strengthening the Ministry’s efforts to rebuild investor trust and foster new economic collaborations. As Finance Minister, she emphasized aligning her ministry’s work with public expectations.

At a meeting on 20 February 2018, Mwanakatwe instructed her team to formulate strategies aimed at systematically addressing domestic arrears while ensuring punctual payment of public sector salaries. She also praised initiatives focused on enhancing domestic resource mobilization.

President Lungu dismissed her from the Finance Minister post on 14 July 2019.

Family

Margaret Mwanakatwe is married to Mupanga Mwanakatwe, who serves as managing director of Zamtel, Zambia’s state-owned telecommunications enterprise.

See also

• List of banks in Nigeria
• List of banks in Uganda
• List of banks in Zambia

External links

• Summary of Margaret Mwanakatwe's Contributions in Ghana