Zambia records an increase in financial inclusion

Zambia records an increase in financial inclusion »

21 Aug, 2015
Business

ZAMBIA has seen this year seen an increase in financial inclusion among the adult population, the 2015 Finscope Survey has recorded. Speaking when he presented the findings during a one day e-money card and payments summit, Bank of Zambia (BoZ) deputy governor Bwalya Ng’andu, revealed that financial inclusion among the adult population had increased from 37.3 percent in 2009 to 59.3 percent this year.

Zambian banks face money shortage

Zambian banks face money shortage »

31 Jul, 2015
Business

THE Bankers Association of Zambia (BAZ) says banks in the country are struggling to support key sectors of the economy because they do not have enough funds. BAZ President Leonard Mwanza told the Lusaka Star in a telephone interview today that the recently increased statutory reserve ratio empowers the central bank to be entitled to as much as 18 percent of all deposits made in Banks.

Zambia at 50; a Golden Milestone

Zambia at 50; a Golden Milestone »

24 Oct, 2014
Star Comment

A journey of a thousand miles begins with one step, they say. Our forefathers took that one mighty step to fight for independence many years ago and today, we are privileged to celebrate mother Zambia’s 50th independence anniversary. The first Zambian president Kenneth Kaunda and his government did an amazing job in putting Zambia where it is today. They had to gather up their strength and transition the remnants left by colonial masters into a beautiful land.

Economic Diversification is the Answer to Zambia’S Poor Economy

Economic Diversification is the Answer to Zambia’S Poor Economy »

8 Apr, 2014
Focus Point

THE economy of Zambia has been under-performing for a long time now and there is urgent need to diversify the sectors which the economy is dependent on. From the post-independence period to date, the economy has heavily relied on foreign currency earnings from copper which apparently is proving to be unsustainable. It is unsustainable in that the country does not have the manufacturing machinery to process the very copper into finished products. Copper exports amount to approximately 77 percent of the country’s income. 

BoZ steps up currency rebase campaign

BoZ steps up currency rebase campaign »

12 Oct, 2012
Business

The Bank of Zambia has intensified its nationwide campaign aimed at sensitizing the public on the rebasing of the local currency.   Bank of Zambia Manager for Communications and Protocol Besnat Mwanza revealed that the central bank has deployed a ten man team to educate the public on the process of rebasing.