Caleb Fundanga, the governor of the Bank of Zambia, on Tuesday said the emergence of illegal cross-border trade due to the lack of financial and payment services in Southern Africa had made monetary policy operations more complicated.

At a roundtable symposium in Lusaka, Zambia, Fundanga said: "The lack of financial and payment services has not only hindered small-scale cross-border trade, but also led to the establishment and entrenchment of parallel currency markets at the borders. Needless to