Zambia
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
Bank of Zambia cuts rates as food crisis mounts
Zambian central bank calls for better government policy as drought causes a sharp rise in food prices
IMF warns Zambia over risks
Country must act fast over rising debt to prevent “disorderly” fiscal adjustment, IMF board says
Zambian president makes deputy governor finance minister
New finance minister must tackle large debt burden, rising inflation and falling growth
Zambia raises rates for first time since 2015
Governor hopes to prevent inflation rising above 6–8% target
Zambia deputy governor emphasises importance of female financial inclusion
Survey data reveals extent of gender disparity in market
Bank of Zambia urges country to embrace financial technology
Zambian payments app becomes integrated with Visa and MasterCard
New Zambian banknotes cause trouble for ATMs
Central bank advises public to deposit new notes at banks due to a delay in ATM calibration
People: Finland’s Rehn confirmed; Kalyalya gets extension
Olli Rehn gets top job at Finnish central bank; Denny Kalyalya handed additional five years as head of Bank of Zambia
Central Banking Awards: BoE a leader in fintech
Awards go to the Bank of England, Vizor, Lanqart and Openlink for their innovative work
Technology consultant of the year: Vizor Software
The Dublin-based company continued to grow its client base in 2017, proving its mettle in emerging markets, with the addition of Brunei’s central bank and the Zambian pensions and insurance regulator
Zambia cuts rates amid improved inflation outlook
Inflation projected to continue trending towards lower end of target over medium term; governor praises government efforts to rein in deficit
Bank of Zambia outlines resolution plan for failed lender
Balances of 99.8% of IBC depositors will be restored in full under new arrangement, which will see creation of new commercial bank
Zambia cuts interest rates again
Monetary tightening has tamed inflation but squeezed financial sector – IMF
Bank of Zambia begins liquidating three financial institutions
Commercial Leasing Zambia, Cetzam Financial Services and Genesis Finance to close with immediate effect; those affected have 30 days to file objection to the courts
Measures needed to keep married women in wage sector in Sub-Saharan Africa, paper finds
Working paper examines gender gap in labour markets in Burkina Faso, Ghana, Mauritius, Rwanda and Zambia; finds education opens opportunities, but they can diminish after marriage
Zambia hikes by 300bp as inflation almost doubles
Bank of Zambia increases policy rate to 15.5% in an effort to keep inflation expectations anchored in single digits; annual inflation jumps to 14.3% in October as kwacha slides
Kalyalya: Bank of Zambia will revamp communications
New governor tells press the central bank will look to establish ‘more structured and regular’ communications with the public; sets out economic challenges and opportunities
Kalyalya replaces Gondwe as Bank of Zambia governor
Former deputy governor Denny Kalyalya replaces Michael Gondwe at the helm of the central bank, after new president decides he wants a change at the top
Zambian governor fears shariah scholar shortage
Michael Gondwe identifies challenges to the growth of Islamic finance in Zambia, which he believes is necessary to provide affordable products and services to the population
Bank of Zambia holds interest rate as inflation stabilises
First MPC meeting of new quarterly schedule sees no change in policy; bumper maize harvest and a stabilising exchange rate credited with lowering inflation
Zambia governor opens conference on financial inclusion for women
Michael Gondwe says deliberate policies and a long-term commitment will be needed to ensure financial inclusion for all Zambia's women
Zambia warns speculators the kwacha is on the up
Bank of Zambia warns the public not to speculate on the continued fall in the kwacha's value, as economic fundamentals point to appreciation
Bank of Zambia moves to quarterly MPC meetings
Central bank reduces number of planned MPC meetings each year in an effort to produce ‘more meaningful’ analysis with a ‘longer time perspective’