On 7 September 2018, President Emmerson Mnangagwa announced Zimbabwe's new cabinet where he named Professor Mthuli Ncube as the Finance Minister.

[5] In the 2023 Zimbabwean general election, Ncube lost the newly created seat of Cowdray Park to Pasho Raphael Sibanda from the Citizens Coalition for Change.

As a vice president, Professor Mthuli Ncube was a member of the senior management team of the Bank and contributed to its general strategic direction.

[5] Ncube was also a regulator and a board member of the South African Financial Services Board (FSB), which regulates non-bank financial institutions in South Africa, founding chairman of Barbican and Selwyn Capital and worked for Investec Asset Management as a Portfolio Manager and Head of Asset Allocation Strategy.

[15] Ncube was appointed Finance Minister of Zimbabwe on Friday 7 September 2018 under President Emmerson Mnangagwa's government.