Zambia`s new President Rupiah Banda sacked the finance minister Friday as he reshuffled the cabinet two weeks after scoring a narrow election victory.

Banda dropped five cabinet ministers in the shake-up including Finance Minister Ng`andu Magande, who was replaced by presidential economic advisor and well-respected technocrat Situmbeko Musokotwane.

Former justice minister George Kunda has been appointed as his vice president, Banda told a press conference.

The country`s police chief Ephraim Mateyo was also recalled.

Banda beat his closest opposition rival, Michael Sata, by a slim margin in the October 30 election, which the opposition claims was rigged in favour of the ruling party.

The election followed the death of former Zambian leader Levy Mwanawasa in August.