Mthuli Ncube

Mthuli Ncube

Visiting Professor in African Studies


Saïd Business School University of Oxford Park End Street Oxford OX1 1HP


Professor Mthuli Ncube is currently Managing Director and Head of Quantum Global Research Lab (Switzerland).

This is part of Quantum Global Group, the largest Private Equity group dedicated to investing in Africa. Quantum Global Research Lab conducts investment research and advises private sector and public sector clients on Africa and African policy-makers. He leads a team of researchers who research African economies, pointing to where investment opportunities and risks lie and linking these to the ever-changing global economy. He has developed an 'Investment Index' for Africa.

Professor Ncube was Professor of Public Policy at the Blavatnik School of Government, Oxford. He is the former Vice President and Chief Economist of the African Development Bank Group (AfDB) and is ranked as a top economic thinker on Africa and globally. He is also the HSBC Distinguished Professor of Banking and Finance at the Graduate School of Business Administration (Wits Business School), University of the Witwatersrand, on a part-time basis.

Professor Ncube holds a PhD in Economics (Mathematical Finance) from University of Cambridge on 'Pricing options under stochastic volatility'. He started his career as a Lecturer in Finance at The London School of Economics. He has been the Dean of the Faculty of Commerce Law and Management, and also Dean and Professor of Finance at Wits Business School, all at University of Witwatersrand in South Africa. He founded the Centre for Entrepreneurship at Wits University.

He has extensive experience as an investment manager and investment banker, having worked at Investec Asset Management and Quantum Global Group. He served as Board member of the South African Financial Services Board (FSB), Chairman of the National Small Business Advisory Council, Chairman of the Board of African Economic Research Consortium(AERC) in Kenya, Board member of the Global Development Network (GDN), Board member of the Royal Africa Society and London, Board member of OMFIF, London.

He has published numerous books, papers and articles in the area of economics and political economy and finance. He is a regular commentator in media such as the BBC, Economist, Financial Times, Wall Street Journal and Sunday Times (SA).


Mthuli's main interests include finance, macroeconomics, development economics, political economy, and business and investment strategy in Africa.


Being based in the private sector enables Mthuli to engage continously with business in ways that have enriched his teaching style and approach.

Dealing with clients has enabled him to understand better what they are looking, and to understand the African investment climate as an investor.


Mthuli teaches an MBA course on 'Growth Prospects and Opportunities for Business in Africa'.

His teaching philosophy hinges on conveying the theories behind issues, and case studies that bring the issues to life. The style involves the use of case studies, company visits and emersion in the African environment for doing business. The approach has opened up students to the African business opportunities, and some of them go on to seek opportunities in Africa.

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