By Sukoluhle Ndlovu
President Emmerson Mnangagwa has split Zimbabwe’s economic ministry, appointing businessman and Zanu-PF Senator Kudakwashe Tagwirei as Minister of Economic Development and Investment Promotion while Professor Mthuli Ncube takes charge of Finance.
The changes were announced today, October 8, 2026, and take immediate effect.
In a statement, Chief Secretary to the President and Cabinet Dr Martin Rushwaya said Mnangagwa had, in terms of Section 104(1) of the Constitution, “appointed Kudakwashe Tagwirei as Minister of Economic Development and Investment Promotion.”
“The appointment is with immediate effect,” Rushwaya said.
In a separate statement issued today, Rushwaya said Mnangagwa had “re-assigned Professor Mthuli Ncube as Minister of Finance.”
“The re-assignment is with immediate effect,” the statement said.
The changes effectively split the combined Ministry of Finance, Economic Development and Investment Promotion, which has been headed by Ncube since the 2023 elections.
Ncube will now retain the Finance portfolio, while Tagwirei takes over economic development and investment promotion.
Tagwirei’s appointment brings the Sakunda Holdings boss into Cabinet and gives him a formal government role overseeing a key part of the country’s economic policy.
Tagwirei was co-opted into the ruling party party’s Central Committee last year. His elevation into Cabinet gives him a powerful new platform.
