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Tuesday, 16 April, 2002, 11:41 GMT 12:41 UK
Zambia sacks central bank chief
Zambia's capital Lusaka
Zambia's president has reshaped the financial sector
Zambian President Levy Mwanawasa has dismissed the central bank governor Jacob Mwanza with immediate effect.

Sacked Zambian central bank governor Jacob Mwanza
No reason was given for Mwanza's dismissal
No reason was given for the sacking of 65-year-old Mr Mwanza, who took up the post as governor in 1995 and had three years left on his current five-year contract.

Economist Caleb Fundanga, senior adviser to the president of the African Development Bank, has been named as his replacement, presidential spokeman Arthur Yoyo said.

"With this appointment the President wants to demonstrate his resolve to seek the expertise and experience of Zambians where ever they might be," Mr Yoyo said.

More reshuffles

Since his election in December, Mr Mwanawasa has removed a number of senior government ministers and civil servants including the finance minister and the permanent Treasury secretary.

He has also reshuffled the boards of the Zambia Revenue Authority and Zambia Privatisation Agency (ZPA).

Mr Fundanga had been widely forecast to take over from Mr Mwanza, but his appointment had not been expected so soon.

See also:

04 Apr 02 | Business
Zambia agrees stop-gap oil deal
18 Feb 02 | Business
Zambian budget deep in the red
21 Jan 02 | Business
Zambia bid for foreign investors
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