For the past decade, Africa has had strong growth. A new economic momentum has been created. The continent weathered the financial crisis and has bounced back. But headline economic growth is not enough. Deliberate policies to reduce inequalities and promote inclusion are now needed more than ever before. It is time to focus on what people want: decent work, a living wage, access to basic service, more democracy and accountable governments.  Africa and its people aim to be a pole of growth in the decades ahead. Read more

Mthuli Ncube

Professor Mthuli Ncube is the Chief Economist and Vice President of the African Development Bank, and holds a PhD in Mathematical Finance from Cambridge University, UK, on “Pricing Options under Stochastic Volatility”.  As Chief Economist, he oversees the Economics Complex, which is focused on the process of knowledge management within the bank and with its partners, and general economic strategic direction of the bank. In this regard, he looks after the Development Research Division, Statistics Division and African Development Institute, all of which are headed by Directors who report to him. That is, knowledge generation, knowledge acquisition, knowledge dissemination, and knowledge sharing, and capacity-building. As a Vice President, he is a member of the senior management of the Bank and contributes to its general strategic direction.

Before joining the Bank, he held the post of Dean of the Faculty of Commerce, Law and Management at the University of the Witwatersrand (Wits), Johannesburg, South Africa, and before that was Dean and Professor of Finance at Wits Business School.  He led Wits Business School to a point where it was rated at 45 globally by the UK Financial Times in 2007.He has extensive experience as an Investment Banker, and was founding Chairman of Barbican and Selwyn Capital, which are involved investment banking.

Prof Ncube was also a regulator, and served as a Board member of the South African Financial Services Board (FSB), which regulates non-bank financial institutions in South Africa.

He is also Chairman of the Board of the African Economic Research Consortium, a network that develops economists in Africa, with which he has been associated for the last 20 years.

He is also Chairman of the Global Agenda Council on “Poverty and Economic Development” (World Economic Forum).

Prof Ncube is also a Governor of the African Capacity Building Foundation.

Previously, Professor Ncube worked for INVESTEC Asset Management as a Portfolio Manager and Head of Asset Allocation Strategy.  He also managed Investec’s Global Managed Fund, an offshore umbrella-fund registered in Ireland.  The fund had five other funds under it with investments in US, Japanese and European Equities, bonds and money markets.

Prior to joining the corporate sector, Professor Ncube was a Lecturer in Finance at the London School of Economics, UK, where he taught and supervised undergraduate and graduate students in finance and investments, and general theory of asset pricing.

He has published widely in the area of finance and economics, and some of his papers have won awards.  Some of the papers have been published in international journals such as the Journal of Econometrics, Journal of Banking and Finance, Mathematical Finance, Applied Financial Economics, Journal of African Economies, among others.  He has also published 4 books, namely: Mathematical Finance; South African Dictionary of Finance; Financial Systems and Monetary Policy in Africa; and Development Dynamics: Theories and Lessons from Zimbabwe; and a book manuscript on Finance and investments in South Africa.

His interests are in golf, reading and painting. He is married to an Engineer with whom they have 4 children.


13août2014

Can Africa’s extreme poverty be eliminated by 2030?

With the year 2015 – the MDG finishing line – approaching, post-2015 goals as they impact Africa need to be firmed. The goal of ending extreme poverty remains paramount. In this context, extreme poverty means living on a less than $1.25 a day (PPP, 2005 prices). Given the continent’s potential and the track record, the extreme poverty reduction agenda beyond the MDGs should focus on building prosperous and resilient Africa. This can be achieved with strong, sustained and inclusive growth.


11juin2014

Politiques d’assouplissement quantitatif : quel impact sur l’Afrique et ses marchés financiers ?

Les flux de capitaux privés en direction des marchés émergents bénéficient d’un environnement mondial globalement favorable, en particulier de l'amélioration des perspectives mondiales et de la forte croissance prévue en Afrique. Au moment où la Réserve fédérale américaine amorce un changement de sa politique monétaire, passant de mesures d’assouplissement quantitatif à une politique plus restrictive, la Banque centrale européenne et la Banque du Japon devraient toutes deux opter pour une nouvelle politique d’assouplissement monétaire. Ainsi, les flux de capitaux privés en direction des pays émergents et des « marchés frontières » devraient être plus élevés qu'au début 2014.


08avril2014

Inégalités, croissance et pauvreté dans la région Moyen-Orient et Afrique du Nord (MENA)

La vague de protestations et de troubles, qui a balayé la région Moyen-Orient et Afrique du Nord (MENA) depuis 2011, a continué sous des formes différentes. En plus d’exiger une plus grande inclusion économique et politique, les manifestations sont nées, pour beaucoup, du refus de tolérer plus longtemps les inégalités socio-économiques que perpétuaient les “élites” longtemps restées au pouvoir. Nombreux sont les pays aujourd'hui, où la question des inégalités se pose désormais à l’avant-plan du discours national et international, dans la perspective de trouver des solutions.


12févr.2014

L’impact de la politique d’assouplissement quantitatif aux États-Unis, au Japon, au Royaume-Uni et en Europe

Dans un récent ouvrage que j’ai rédigé conjointement avec le Prof. Kjell Hausken intitulé « Quantitatif Easing and Its Impact in the US, Japan, the UK and Europe » (L’assouplissement quantitatif et son incidence aux États-Unis, au Japon, au Royaume-Uni et en Europe), nous analysons de façon empirique les effets de l’assouplissement quantitatif sur les taux d’intérêt et l’économie des États-Unis, du Japon, du Royaume-Uni et de l’Europe.


20déc.2013

Combien coûte la fragilité à l’Afrique ?

La fragilité de l'État, outre les conflits violents, menacent grandement la sécurité régionale et mondiale. La plupart des conflits armés contemporains ont lieu au sein même des pays, et la majorité des victimes sont des civils. Or, conflits et fragilité de l’Etat entravent les efforts déployés pour réduire la pauvreté, alors même que prévenir les conflits par le développement s’avère moins coûteux que gérer les conséquences d’une guerre.


23sept.2013

La Politique Monétaire et l’Economie en Afrique du Sud

Dans le livre récent que j’ai co-écrit avec M. Eliphas Ndou (Economiste au Département de la Recherche de la Banque Centrale de l’Afrique du Sud), intitulé « Politique monétaire et l’économie en Afrique du Sud », nous discutons de certaines questions empiriques et pertinentes de la politique monétaire en Afrique du Sud. En utilisant une approche VAR bayésien, l’ouvrage évalue le lien entre la politique monétaire avec diverses variables économiques.