Bank of Zambia wants business plans from banks

Commercial banks in Zambia will, effective next year, be required to submit yearly business strategic plans to the central bank.

According to Bank of Zambia (BOZ) financial system supervision department acting director Edna Mudenda, this was meant to promote corporate governance in financial institutions. The business strategic plans would enable BOZ assess banks' strategy, vision, policies, target and direction.

Mudenda said this was because the central bank recognised the fact that banks were