Musokotwane named Africa’s Finance Minister of the Year, pays tribute to Zambians

Former Finance and National Planning Minister, Situmbeko Musokotwane, has won the Africa Finance Minister of the Year Award, with the recognition placing Zambia’s recent economic reforms and debt restructuring efforts in the continental spotlight.

Speaking during the award ceremony in Brazzaville, Republic of Congo on Wednesday, Musokotwane said Zambia’s economic recovery journey had required difficult decisions, fiscal discipline, and strong partnerships aimed at restoring stability and rebuilding confidence in the economy.

“It is with deep humility and sincere gratitude that I receive this distinguished honour,” Musokotwane said.

He praised President Hakainde Hichilema for providing consistent and visionary leadership during Zambia’s economic recovery programme, saying the Head of State had demonstrated courage, fiscal discipline, transparency, and institutional integrity in steering reforms.

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Musokotwane also acknowledged the support of the African Development Bank (AfDB), cooperating partners, creditors, and the private sector in supporting Zambia’s reform agenda and debt restructuring programme.

He noted that the AfDB currently had a portfolio of 24 projects in Zambia valued at approximately US$905.8 million across transport, agriculture, water and sanitation, power, finance, and social sectors.

The former minister further paid tribute to ordinary Zambians, including farmers, miners, teachers, entrepreneurs, and civil servants, for enduring the economic adjustment period with patience and resilience.

Meanwhile, Secretary to the Treasury, Felix Nkulukusa described the award as well-deserved, citing Musokotwane’s “exceptional work ethic” and leadership during difficult economic conditions.

Zanaco Board Chairperson, Oliver Saasa, said the award reflected Musokotwane’s contribution to debt restructuring, inflation reduction, kwacha stability, and investment growth.

African Development Bank Executive Director, Shebo Nalishebo, also praised the former minister’s “calm leadership” and bold reform agenda, saying the recognition affirmed Zambia’s progress toward sustainable economic recovery.

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