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.

Dr Chigunta urges government to strengthen Monetary Policies »

10 Feb, 2014
News

Former President Rupiah Banda’s political advisor Dr Francis Chigunta has advised the Patriotic Front government (PF) to strengthen the monetary policy implementation to avoid the increasing levels of inflation. In an interview with the Lusaka star, Dr Chigunta said the inflation rate in Zambia on an annual basis is still low and around this time of the year it is normal to experience an increase in inflation.

BOZ maintains monetary and policy rate for December »

15 Dec, 2013
Business

THE Bank of Zambia (BoZ) has maintained the policy rate for the month of December 2013  at 9.75 per cent, head of public relations Kanguya Mayondi has announced. He said this in a statement in Ndola last week that the committee noted that the recent developments in inflation have broadly been in line with expectations, as annual overall inflation was recorded at 7 per cent in November 2013.