Zambia
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’
Bank of Zambia holds seminar for local journalists
The Bank of Zambia held a three-day seminar for journalists at a holiday resort last week, impressing on them their responsibility to provide accurate information on the economy
Bank of Zambia tries to talk down forex market ‘panic'
Bank of Zambia aims to arrest ‘panic' in foreign exchange market amid reversal of portfolio flows; hiked reserve ratio requirement on Monday in attempt to strengthen currency
Zambian governor says tougher capital rules will help foster financial inclusion
Michael Gondwe says recent increases in the minimum capital requirements imposed on domestic and foreign banks will make them stronger and improve the supply of credit to ‘local entrepreneurs’
Zambian central bank sees currency stability but inflationary pressures through year-end
The Zambian kwacha has taken a hit against the biggest global currencies but appreciated against the South African rand, meaning REER held steady