Breaking Barriers and Building Business: Lusaka’s Leading Female CEOs Transforming the Economic Landscape

Lusaka is experiencing a transformative wave in its business sector—one led by dynamic female leaders who are redefining success, resilience, and innovation. Five (of many) standout women—Mukwandi Chibesakunda, Faith Mukutu, Lillian Mutwalo, Monica Musonda, and Rashmi Sharma—have risen to prominence as CEOs in industries ranging from banking to food processing, digital infrastructure, and jewellery. Their individual stories form a powerful collective narrative of ambition, adaptability, and progress in Zambia’s business ecosystem.

Mukwandi Chibesakunda – Revolutionising Financial Inclusion

A trailblazer in Zambia’s financial sector, Mukwandi Chibesakunda became the first female CEO of Zambia National Commercial Bank (Zanaco) in 2020. With a robust career in banking—including roles at NATSAVE and Access Bank—Mukwandi has spearheaded innovations in mobile banking and financial services outreach. Her accolades, such as CEO of the Year in Zambia (2021) and African Female Leader of the Year (2021 and 2022), underscore her influence in reshaping Zambia’s banking landscape.

Faith Mukutu – Securing Zambia’s Food Future

Faith Mukutu, CEO of Zambeef Products Plc, made history in 2022 as the company’s first Zambian chief executive. Under her stewardship, Zambeef is executing a $100 million expansion to enhance national and regional food security. With experience from Zambia Sugar and National Breweries, Faith combines financial expertise with visionary leadership, making her a central figure in Zambia’s agricultural sector.

Lillian Mutwalo – Championing Digital Connectivity

As Managing Director of Bayobab Zambia (formerly Zambia FibreCo, a subsidiary of MTN Global Connect), Lillian Mutwalo leads the charge in advancing Zambia’s (and the region's) digital infrastructure. With a strong background in telecommunications and banking, including roles at Absa Bank and MTN Zambia, Lillian now oversees one of the country's key wholesale fibre service providers. Her strategic leadership is critical in expanding internet access and enabling digital business, a cornerstone for modern economic growth.

Monica Musonda – Innovating with Local Ingredients

Lawyer-turned-entrepreneur Monica Musonda founded Java Foods in 2012 with a mission to provide affordable, nutritious food using locally sourced ingredients. Today, Java Foods’ eeZee Instant Noodles and Supa Cereal are household names across Zambia and beyond. Monica’s journey from legal counsel to food industry pioneer has earned her continental recognition, including the African Agribusiness Entrepreneur of the Year Award in 2017.

Rashmi Sharma – Showcasing Zambia’s Gems to the World

Rashmi Sharma, CEO of Jewel of Africa, has spent over 25 years elevating Zambia’s gemstone industry on the global stage. As a certified gemologist and jewellery designer, she blends artistry with advocacy, promoting ethical sourcing and craftsmanship. Her participation in international expos and TEDxLusaka has shone a spotlight on Zambia’s mineral wealth while empowering local artisans and designers.

Overcoming Challenges with Innovation and Resilience

These women have not reached their positions without adversity. Yet, their stories are ones of perseverance and innovation. Monica Musonda tackled funding limitations through partnerships and strategic branding. Mukwandi Chibesakunda drew from her deep industry experience to reshape how banks serve customers, especially women and rural populations.

Organisations like the Zambia Federation of Associations of Women in Business (ZFAWIB) play an instrumental role in supporting these leaders, offering networks, training, and advocacy that enhance women's business visibility and capability.

Economic and Social Impact

The influence of these female CEOs extends beyond their boardrooms:

Job Creation: Their businesses employ thousands, supporting livelihoods across Lusaka and beyond.
Innovation: From mobile banking to fortified cereals, they are solving real-world problems with smart, scalable solutions.
Inspiration: Their visibility motivates the next generation of women leaders in Zambia and the wider region.

These contributions align with Zambia’s Vision 2030—to become a prosperous middle-income nation through inclusive growth and sustainable development.

Comparative Snapshot: Leadership at a Glance

Name	Company	Sector	Key Achievement
Mukwandi Chibesakunda	Zanaco	Banking	First female CEO; Financial inclusion leadership
Faith Mukutu	Zambeef Products Plc	Food Production	$100M expansion for food security
Lillian Mutwalo	Bayobab Zambia	Telecommunications	Leading digital transformation
Monica Musonda	Java Foods	Food Processing	Founder of top noodle brand; Regional exporter
Rashmi Sharma	Jewel of Africa	Jewellery	Global promotion of Zambian gemstones

The Road Ahead: Scaling Female Leadership

The success of these women is not just a milestone—it’s a movement. As more female entrepreneurs and executives emerge, support systems must scale accordingly. Government-backed funding, mentorship initiatives, and inclusive policy reforms will be vital to ensuring continued progress. Their stories act as both blueprint and beacon for aspiring women in business across Zambia and Sub-Saharan Africa.

The leadership of Mukwandi Chibesakunda, Faith Mukutu, Monica Musonda, Lillian Mutwalo, and Rashmi Sharma is more than a personal triumph—it’s a national asset. Through bold decisions, innovative thinking, and unyielding determination, these women are helping to shape Lusaka into a thriving, inclusive, and forward-looking economic hub. As their impact grows, so too does the promise of a Zambia where every woman with a vision has the tools and support to lead.