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About the Ministry

About The Ministry

The Ministry of Finance (MoF) derives its mandate from Part X of the Constitution of Zambia. It is also guided by statutory and portfolio functions as stipulated in the Government Gazette Notice Number 836 of 2016. The mandate and core functions of the Ministry are as follows:

  1. Banking and Financial Policy;
  2. Capital Market Development Policy;
  3. Climate Change (Financing);
  4. Economic Policy Analysis and Management;
  5. Financial and Economic Affairs;
  6. Government Accounts;
  7. Insurance Policy;
  8. Internal Audit;
  9. Loans and Investments;
  10. Lotteries;
  11. Micro Finance;
  12. Miscellaneous and Credit Guarantees;
  13. National Budgeting;
  14. Pensions Policy and Schemes;
  15. Public Debt Policy;
  16. Public Expenditure;
  17. Public Finance Management;
  18. Public Procurement;
  19. Public Resource Mobilisation;
  20. Revenue Collection;
  21. Revenue Policy;
  22. Stock Exchange; and
  23. Stores Policy.

The Ministry is headed by a Minister whose mandate is drawn from the Minister of Finance (Incorporation) Act, Chapter 349 of the Laws of Zambia. The administrative and technical team is headed by the Secretary to the Treasury who is assisted by four Permanent Secretaries:

  1. Permanent Secretary – Economic Management and Finance (EMF)
  2. Permanent Secretary – Budget and Economic Affairs (BEA)
  3. Controller of Internal Audit
  4. Accountant General

Vision Statement

“To be a world-class institution in the mobilisation and management of public resources for sustainable national development.”

Mission Statement

“To efficiently and effectively coordinate national planning and economic management, mobilise and manage public resources in a transparent and accountable manner for sustainable national development.

Value Statement

“The Ministry of Finance will uphold excellence, professionalism, teamwork, integrity, commitment, transparency, accountability and value for money”

The Ministry comprises the following directorates:

  1. Budget Office
  2. Economic Management Department
  3. Government Stores
  4. Human Resource and Administration
  5. Investments and Debt Management Department
  6. Office of the Accountant General
  7. Office of the Controller of Internal Audit

Statutory bodies and grant-aided institutions:

  • Bank of Zambia;
  • Betting Control and Licensing Board;
  • Development Bank of Zambia;
  • Directorate of State Enterprises;
  • Financial Intelligence Centre;
  • Indo Zambia Bank;
  • Industrial Development Corporation;
  • Lotteries Control Board;
  • National Road Fund Agency;
  • National Savings and Credit Bank;
  • Pensions and Insurance Authority;
  • Public Service Micro Finance Bank
  • Rural Finance Expansion Programme (RUFEP)
  • Securities and Exchange Commission;
  • Standing Accidents Board and Provincial Standing Accidents Committees;
  • State Lotteries Board of Zambia;
  • War Pensions Board/Fund;
  • Zambia Credit Guarantee Scheme
  • Zambia Finance and Leasing Company;
  • Zambia Institute of Chartered Accountants;
  • Zambia Institute of Purchasing and Supply;
  • Zambia National Building Society;
  • Zambia National Commercial Bank;
  • Zambia National Insurance Brokers Limited;
  • Zambia Public Procurement Authority
  • Zambia Revenue Authority; and
  • Zambia State Insurance Corporation.