Physical address Stand number 22768 Acacia Office Park Cnr Thabo Mbeki and Great East Roads Lusaka, Zambia Telephone Numbers: +260 211 366 800 Fax Number: +260 211 253 057 / 250 602 Email. ‘Zambian Airways’ approached Investrust Bank Plc . Kenya's shilling is expected to extend its gradual march lower as foreign-currency demand ramps up from all sectors before the end of the year. 43 of 1996; Statutory Instrument 191 of 1996] An Act to revise and consolidate the provisions of the Bank of Zambia Act; to revise the law relating toThe Bank of Zambia (BoZ) is the Central Bank of the Republic of Zambia and derives its functions and powers from the Bank of Zambia Act, no,43 of 1996 and the Banking and Financial Services Act, Chapter 387 of the Laws of Zambia. the Bank of Zambia website Mr. Nickel-brass 1 kwacha coins were introduced in 1989 and depicted "Bank of Zambia" on the edges. 19 million (ZMK) As a matter of fact, Zambia has 20 privately owned Banks operational. ZAMBIA SELECTED ISSUES This Selected Issues paper on Zambia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. Stylized facts of the Zambian banking sector After more than two decades of financial repression, financial liberalisation offered an opportunity for a revival of the Zambian banking industry. ZMW USD. Since the launch of telephone banking in late 2008, Zanaco has opened approximately 50,000 mobile banking accounts. Chungu, Chanda (2020) "Richard Musenyesa v. Regular interest payments. Detailed information about SWIFT code INZAZMLX. 77 billion in loans had been disbursed to Zambia and its state-owned enterprises by 18 major and minor Chinese banks or funds from 2000 to August 2021. lusaka: abbazmlu: 2: absa bank zambia plc: kitwe: kitwe processing centre: barczmlxkpc: 3: absa bank zambia plcZambia last week opted to bow out of a $42. The Zambian kwacha derives its name. The Constitution of Zambia Act No. Chipimo recently explained that part of the big investment in. As of 2018, the banking sector in Zambia had a total of 18 banking corporations (BoZ 2018). Find out which discounts are applicable to you when you use your Absa cards at any of our rewards partners. 9 School enrollment, primary (% gross)b 98. 3 million) originated from Citigroup for accounts housed within the Zambian subsidiary of South African Standard Bank Group, Stanbic Bank Zambia. Access Zambia’s economy facts, statistics, project information, development research from experts and latest news. INDO Zambia Bank Limited Appeal No. Branch name. 9443 ZMW. All you need is to be a salaried employee or self employed to qualify. Bank of Zambia - HQ. Wide range of destinations. TransferWise. LUSAKA. 5 stanbic bank zambia ltd sbiczmlx 6 standard chartered bank zambia plc scblzmlx 7 indo zambia bank ltd inzazmlx 8 finance bank zambia ltd zfbazmlu 9 cavmont capital bank ltd cvmtzmlu 10 internarket banking corporation (z) ltd idhzzmlu 11 investrust bank plc vstrzmlu 12 bank of china (z) ltd bkchzmlu 13 banc abc zambia ltd fmbzzmlx 14 first. Zazu is Zambia’s fintech start-up that was launched in 2015 to provide digital payment services via its digital wallet and financial education courses to the Zambian. RM EXKXPE – Detail from a Zambian 50 Kwacha banknote (2009) showing an eagle watermark. Physical address Stand number 22768 Acacia Office Park Cnr Thabo Mbeki and Great East Roads Lusaka, Zambia Telephone Numbers: +260 211 366 800 Fax Number: +260 211 253 057 / 250 602 Email. Once the review is approved by IMF Management and completed by the Executive Board, Zambia will have access to about $184 million in. Competitive Yields. 10 of 2017 (the “ Banking Act ”) in Zambia is clear that unless conditions to the banking licence stipu-lates otherwise, a registered bank in Zambia is authorized to engage in the following activities in addition to banking business: provide branchless banking services. 2,523 views. During this period the Zambian pound circulated alongside the Zambian Kwacha until 31st January 1974 when the withdrawal process was completed and the sole legal tender became the Kwacha and ngwee. November 22, 2023 at 5:41 AM PST Listen 1:18 Ex- Barclays Plc ’s Chief Executive Officer Bob Diamond ’s African banking group is facing a multi-million dollar trial in a UK court. The Bank has an objective to ensure that. - The indo-zambia bank corporate banking app allows you to perform all your banking tasks from the palm of your hands, from anywhere, anytime!. Currency Management. Zambian President Hakainde Hichilema named Denny Kalyalya as central bank governor, returning the highly. Toggle navigation. Bold actionsThe history of Zambia experienced many stages from colonization to independence from Britain on October 24, 1964. Development Bank of Zambia | 3,916 followers on LinkedIn. Banking. 25 ZMW 19. 793669061 ZAR. The period of analysis was chosen based on data availability and its sufficiency to provide reliable results based on quantitative and statistical. Geographical and historical treatment of Zambia, a landlocked country in south-central Africa. 100 ZMW 79. +260 21 127 8443. 2 million (about US$1. Zambia's economic. The banks major shareholders are Industrial Development Corporation (IDC), National Pensions Authority (NAPSA), Madison Financial Service Plc and Workers Compensation Fund Control Board. 1165: 23. 6. Therefore you can only use other services to withdraw money in. On Wednesday, Fitch Ratings downgraded a key. A World Bank (2017) study shows that Zambia’s poor WSS service is partly responsible for the high levels of childhood stunting (40 percent) in the country, which represents a staggering loss of human potential in Zambia. 0% for headline inflation, and the BoZ is expected to hold its policy rate at 9% in 2023. This study attempts to fill this void by investigating cost efficiency in the Zambian. The Bank of Zambia said. What is the Bank of Zambia. 5835: 23. It is subdivided into 100 Ngwee . Exclusively designed savings account to inculcate savings habits in parents and guardians for their children. Contacts: Bank of Zambia Bank Square Cairo Road P. A series of meetings was held in Lusaka between the World Bank team and the Ministry staff, resulting in the outline of a strategy and next steps. According to the Bank of Zambia 2019 statistics, the number of savings groups in Zambia was around 20,000 with estimated savings of K500 million and over 600,000 members and these are potential. 2 International poverty rate ($2. Three main themes have emerged in our 2022 survey: An increased level of convergence over the. It is typically referred to being in South-Central Africa or Southern Africa. With over 7 million people who get the real exchange rate with TransferWise and its fully accepeted in Zambia. This is in line with the Bank of Zambia’s (BoZ) target of 6. How to open a Company Bank account In Zambia. For project-related issues and complaints. Management can be efficient in one bank, at the some time quick in another. org. 3. Prior to this, Barclays Bank Zambia used to have Telephone Banking which could be accessed from a landline. FIRNZMLXXXX. Text Table 2: External Debt Service by Creditor Class (on already disbursed debt as of end 2018) Sources: Zambian authorities and IMF staff calculations. 7 percent of GDP in 2020 to. Section 2 gives an overview of the banking lending channel with a review of relevant literature. Bordering the area of Victoria Falls, Zambia is a country that is situated on a high plateau, with many parks. . The authorities’ program, supported by the ECF-arrangement, will advance the authorities’ homegrown reform plan to restore. 2410. 175/2017 8) John Mukoma Kasanga and Others v Development Bank of Zambia and Others CAZ Appeal No. Currently, Zambia is one of the first 17 African countries to implement the Digital Economy for Africa (DE4A) Initiative, in which the World Bank has committed to investing $25 billion in Africa’s digital transformation. This savings account offers attractive interest rates and other benefits to realize your savings goals with other value added features such as IZB Contactless Visa Card, SMS Alert, Mobile and Internet Banking facility. Enter the transfer amount in the selected currency - for example, 2000 GBP. Zanaco account. 3600: 23. Download IZB Corporate Banking and enjoy it on your iPhone, iPad and iPod touch. Bank in Washington DC, Marie Sheppard, World Bank Group, Zambia, Juliet Munro, FinMark Trust, and Roland V. This development comes shortly after the bank acquired a majority stake in BancABC Botswana — its fourth acquisition in 2021. Kitwe 26 02 12. Valid email - You need to have a valid e-mail address with an Internet Service Provider. 0 Gini indexa 55. 00 ZMK to 700 ZMK maximum. 119443 ZMW. I. 8 Lower middle-income poverty rate ($3. Pearson, Jr. 1 million USD is equal to 23. Create an account with your email address. There is over 20 best banks in Zambia, registered legally, operating nationwide and offering best financial services to clients. id bank city branch swift code; 1: ab bank zambia ltd. The most recent outbreak in October 2017 resulted in 5,900Studies on banking competition in developing countries, and especially in Africa, are sparse. Manage your account conveniently through the Internet. Other common features include the coat of arms, the signature of the Governor of the Bank of Zambia, and the face value of the sum of the note. It is a commonly held view that the full impact of Zambia’s pre-Covid-19 economic challenges and the further complications brought on by the Covid-19 pandemic are only now becoming apparent. Topics to prepare for EY Global Delivery Services ( EY GDS) Technology Consultant interview:. Address: Central Park Prestige Banking Farmers House, Lusaka, Zambia, Zambia. 4. Send money online to Zambia faster and more securely from the United States with Remitly, and discover our great exchange rates and low money transfer fees. v Martin Musonda and Others CCZ Selected Judgment No. Good Friday. Copies of this report are available to the public from Further, the Banking and Financial Services Act No. On this basis, Bank of China had grown to become the eighth largest bank in Zambia albeit operating with only one branch. Zambian Kwacha to South African Rand. 3 billion loan agreement from the International Monetary Fund. You can Sign Up at Payoneer from here. ZNBS is wholly owned by the Zambian Government and is the largest building Society in Zambia. 8 percent to 20. The following is a list of all the registered Banks within Zambia: Registered Commercial Banks PDF. The Currency Act of 1967 replaced the Zambian po. On Wednesday, Fitch Ratings downgraded a key. For project-related issues and complaints. BOX 35273, LUSAKA […] Tuesday's study estimated that $7. May 18, 2022. Steps on how to change your alert settings. The Finscope 2020 shows that while bank use by Zambians dropped from 24% to 20% from 2015 to 2020, during the same period digital financial services use accelerated from 14% to 59% of the total population. 00 K25. Long Tenures. The banking sector has an important role to play in Zambia’s economy. 1. Financial Times (FT) Banker Awards. Support +260 211 224 653/225 080, +211 227194, +211 22079 +260 211 225 090. Standard Chartered Bank. 8% in 2020, supported by firmer copper prices, favorable external demand, good rainfall, and post-election market confidence. zm) Published On: May 11, 2023 TYPE: Interim Reports Year: 2023 Period: Q1 Country: Zambia Sector: Banking. Emmanuel Mwamba. STAND NO 22768 CNR GREAT EAST, ROAD, THABO MBEKI ROAD. Nonbanks also constitute important players in the local debt market, holding about 45% of government securities. The tightening of monetary conditions in February by the Bank of Zambia was an appropriate policy response. OwnershipThe startup last year raised US$15 million in growth capital to fuel its expansion across Africa, and it has now partnered leading bank Zanaco to launch operations in Zambia. 1600 ZMW. Read More. Free transfers to other banks and mobile wallets Send and receive money from other banks and mobile wallets in real-time. 2898 USD. zambiaalert@worldbank. 4. June 22, 2021. As a result we’ll only be covering 4 savings accounts, the 4 best safest accounts in our opinion that have relatively good interest rates and banking practices. 5 USD 115. Mobile money. All of the obverse of Zambia’s notes ( ZMW2, ZMW5, ZMW10, ZMW 20, ZMW 50 and ZMW 100) feature a fish eagle which is the common symbol of Zambia’s independence. License Number 010/1986B FBZ currently employs nearly 800+ personnel. A World Bank (2017) study shows that Zambia’s poor WSS service is partly responsible for the high levels of childhood stunting (40 percent) in the country, which represents a staggering loss of human potential in Zambia. 00 p. 10 USD 231. View Answers (1) Q5. The rest of the paper is organised as follows. As a local financial institution we understand the Zambian culture and. 9 School enrollment, primary (% gross)b 98. 1078: 23. Introducing the Action Panel – Bringing your banking features front and center, like payments, transfers, my cards, and cash withdrawals. Standard Chartered Money Insights is a podcast series created to bring you the latest market views on-the-go. This is for informational purposes only. No minimum transfers. Zambian kwacha is the national currency of Zambia. . Overall, it improves economic and GDP growth. 00 K15. Indo Net Banking. zm. Printing and scanning is no longer the best way to manage documents. m K40. The Bank’s mandate is to drive Zambia’s economic development. Homepage. 2607. Zambian exports in 2006. This deposit depends on the account type. 4. Send money to Zambia with WorldRemit Use promo code 3FREE and pay no fees on your first 3 transfers. ( 2 ) Census reports and other statistical publications from national statistical offices, ( 3 ) Eurostat: Demographic Statistics, ( 4 ) United Nations Statistical Division. Supporting You , Developing Zambia | Indo Zambia Bank was formed on 19th October, 1984 by the Government of the Republic of Zambia and the Government of India out of the desire to promote banking facilities to support the economic development of Zambia. Accurate, up-to-date public holidays, bank holidays, and observances in Zambia for 2023 ready to be integrated into your application. Location code 0-9 A-Z 2 characters made. Box 30080. 3: Iss. This page contains a national calendar of all 2024 public holidays for Zambia. Let's Start. 2 workshop the World Bank was requested to work with the Ministry to draft a strategy for improving the corporate governance of state-owned enterprises in Zambia. 4 billion dollars equivalent to 2. 366906064 ZAR. [4] In 2021, Zanaco became the first bank in Zambia to register ZMW1bn in profit after tax. 0000431462 USD. 77 billion in loans had been disbursed to Zambia and its state-owned enterprises by 18 major and minor Chinese banks or funds from 2000 to August 2021. You can open a current or savings account using Standard Chartered app (Stanchart app) on Playstore or App Store. 0. Our bank statement 3 – 6 months examples enable you to submit the required information. The Girls Education and Women’s Empowerment (GEWEL) project provides cash transfers to. The Bank of Zambia has now raised its key rate four times this year to curb inflation, which climbed to 12. AB BANK ZAMBIA LIMITED AB BANK PO. The World Bank Group’s Managing Director and Chief Financial Officer (MDCFO), Anshula Kant, commended Zambia on a strong reform program to restore macroeconomic stability and promote a private sector-led economic recovery from the COVID-19 crisis. The indicators are used to analyze economic outcomes and identify what reforms of business regulation have worked, where, and why. Standard Chartered Money Insights. Industrial Branch 26 00 02. ACCESS BANK ZAMBIA LIMITED ACCESS PO. A range of monetary and fiscal measures appear to be behind the economy’s strength, such as. SCHEDULE II - BANK BRANCH AREA SORT CODES. Profitability analysis is made along 4 key pillars including key metrics, risk. The credit released today is part of the World Bank’s $275 million concessional development policy financing (DPF) for Zambia. 6088: 23. Loans and mortgages. Job Description To initiate and enable transactional sales origination, cross-sell and client engagement in the business to achieve transaction banking revenue goals Provide input. It is based on the information available at the time it was completed on June 30, 2023. Zambia's Finance Minister Situmbeko Musokotwane takes part in a panel during the annual meeting of the International Monetary Fund and the World Bank, following. 3300: 23. ID Bank or Institution City Branch Swift Code; 1: AB BANK ZAMBIA LTD. !Important Notice: It is not possible in 2021 for any Zambian PayPal user to receive money in the country to withdraw through preferred Zambian bank account. Zambia Public Holidays 2023. LUSAKA, November 8, 2017 – Mary. Mvunga Governor. The Central Bank of Zambia lifted its key interest rate by 100 bps to 11% at its regular meeting on November 22nd 2023, after raising it by 50 bps in August. Dr. View Account Balances Monitor cleared transactions, forex rates inquiry vew, print and store electronic copies of your statements. Set rate alerts for ZAR to ZMW and learn more about South African Rand and Zambian Kwacha from XE - the Currency Authority. 50% as inflation in the copper-rich nation remained high. Zambia - Colonial Rule, Independence, Economy: At first the BSAC administered its territory north of the Zambezi in two parts, North-Eastern and North-Western Rhodesia. Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies. Bank Deputy Governor- Operations, Dr. Rekha Chifuwe Mhango, at Radisson Blu Mosi-oa-Tunya Livingstone Resort. (“Investrust”) with a view to securing a USD5,500,000. anticipated external debt payments, the central bank has recently stepped up its efforts in opportunistically purchasing FX from the market. 1. As of February 2018, the World Bank committed $1. Developing Zambia. Zambia’s economic freedom score is 47. However, the average interest rate on loans in Zambia is 27. In 2016, Zambia began work on a system to account for its valuable natural resources. 3200: 23. Tapping the potential of capital markets and. 214/2016 (2020)," SAIPAR Case Review: Vol. Chat Pay – A revolutionary new feature called Chat Pay that allows you to pay any FNB customer via a simple chat, all within FNB’s secure ecosystem giving you peace of mind that the person you are. Similar. These write-offs are proposed in such a way that they also help to improve the liquidity position of the Bank and therefore enable the Bank to. 00 p. 00 K25. The one hundred kwacha note of Zambia is a denomination of the Zambian currency. 3. 6853 ZMW. #Kula. Payments. “Spending on social protection is projected to more than double from 0. Cholera outbreaks are also a common occurrence. This article is for subscribers only. This chapter describes the conduct of monetary and exchange rate policies in Zambia since Independence and discusses policy options for the future. 7% in the prior month. Our personal loans require no security, no deposit and no guarantees. Bank transfers are an easy way to send money to Zambia but they charge extra for the convenience and are often slower than other methods. Members of the World Bank Group Board of Directors* completed a three-day visit to the Republic of Zambia, where they experienced firsthand some of the work being implemented with World Bank support. [3] [5]Keep your own banking hours. Postal Address First National Bank Zambia Limited PO Box 36187 Lusaka, Zambia. 1 USD 23. Select the departure currency - you can send money online from the UK in EUR and USD. Absa Bank Zambia PLC is regulated by Bank of Zambia under licence No. Working at Zanaco means you have the opportunity to have an impact and play a hand at shaping the. 2. Zambia’s overall annual inflation is projected to decline to 19. The Mission Statement of the Bank is to achieve and maintain price and financial system stability to foster. Ecobank Zambia is a full-service bank. Support +260 211 224 653/225 080, +211 227194, +211 22079 +260 211 225 090. Zambia banking market outlook report from OGANALYSIS provides comprehensive analysis, trends, drivers and challenges of operating or expanding into the market. Latest news and information from the World Bank and its development work in Zambia. LUSAKA, Nov 22 (Reuters) - Zambia's central bank raised its benchmark lending rate ZMCBIR=ECIby 100 basis points to 11. 1007/978-3-030-47945-9_183Open a Wise account and save up to 6x on international bank transfers. 04:13 PM. 793669061 ZAR. Rates change according to market price. Assented to on 29 July 2022. 1. We are a proudly Zambian Bank, maintaining our position as one of Zambia’s leading and innovative banks since 1969. Phone number. 1. App, online and other banking. The Bank has a compelling employee. Margaret Mhango Mwanakatwe is a Zambian politician who was the Minister of Finance from 14 February 2018 to 14 July 2019. business. 21449 USD. 1%. 5700: 23. Atlas Mara Bank Zambia Limited 4. africa. 149 3. 0% in a decision announced on. 55 billion which includes. credit in 2006. In this regard, the Bank of Zambia. 5 million eurobond repayment, becoming the first African nation to default on its debt in the Covid-19 era. 3400: 23. Carr v Allen Bradley Electronics Limited. INZAZMLX. Also, $11. 00 K100. Zambia National Commercial Bank Pie v Joseph Kangwa, SCZ Appeal No. LUSAKA: ABBAZMLU: 2: ABSA BANK ZAMBIA PLC: KITWE: KITWE PROCESSING CENTRE: BARCZMLXKPC: 3: ABSA BANK ZAMBIA PLC ZAMBIA Table 1 2022 Population, million 20. Zambia’s economy rebounded in 2021, with real GDP growing at 4. 0 Upper middle-income poverty rate ($6. 00 K300. Overview The principal responsibility of the bank is to create and implement monetary policy that will maintain. Up-to-the-second details of your account Access anytime, from anywhere No queues to stand in, or turns to wait for. When buying US dollars or Zambian kwachas money transfer specialists typically offer better rates and cheaper fees than a local bank. 53706 ZMW. BOZ. It acts as a proof of all the records of transactions you have made during the last thirty days. Telephone: (+260) 211 399300, 0971 270090, 0963884820) Email: [email protected] USD. zm) listed on the Lusaka Securities Exchange under the Banking sector has released its 2023 interim results for. The mobile money revolution in Zambia by Mwatula Chiti. and can be found on the World Bank’s Zambia web-site. Find out how to send money at the best rate and for free and transfer money online to a bank account, mobile wallet, card The bank opened its door to the public on 1st August 2018 and provides a full suit of banking products for MSMEs, Corporate and Retail customers. 1. The leader of Zambia's Socialist Party, Fred M’membe, is accused of espionage, which he denies Image caption: The leader of Zambia's Socialist Party, Fred M’membe, is accused of espionage. After suffering a ransomware attack by the Hive operation, the Bank of Zambia made it clear that they were not going to pay by posting a picture of male. It was established by the Building Societies. Issuing bank . 65)a 78. Welcome to the Home of Mortgage Finance | Zambia National Building Society is a provider of mortgage, banking and property management services. 00 NIL NIL 15 Standard Chartered Bank Zambia PlcOn a monthly basis, consumer prices increased by 0. This new initiative is the first of its kind on the Zambian market and will allow Stanbic Bank customers to access instant pre-approvedFNB Zambia is a subsidiary of FNB South Africa, a wholly owned division of FirstRand Bank Limited which is listed on the Johannesburg Stock Exchange, and provides personal, commercial & corporate. In a major development, the World Bank has appointed a Zambian National, Dr. 2 of 2016. Source: Bank of Zambia Note: Bars below zero mean low demand, above zero high and zero (no bar) means unchanged. or . 85)a 91. In use in… Search tips Enter a year (eg: 2010) to find the coins that could be used in that year. The Bank of Zambia will increase the statutory reserve ratio requirement for local- and foreign-currency deposits by 3 percentage points to 14. economy is to put in place a regime which anchors expectations of low and predictable inflation and allows the central bank to deploy its instruments in support of stable medium-term growth. FCB is part of the by FMBcapital Group which has banking operations in Malawi, Mozambique. #Kula. And in the bid of regulating the bank charges in Zambia, this step has received negative response from the Bank Association of Zambia as a violation of the set competition laws. Follow US. 8%, amid the ongoing. In a Zambian context, “Financial Institution” is any legal entity registered by the Patents and Company Registration Agency (PACRA) and licensed and regulated by the Pensions and Insurance Authority and, for Commercial Banks, by the Central Bank of Zambia–BOZ. id bank city branch swift code; 1: ab bank zambia ltd. [1] The current paper note, first issued in 2013 features the Freedom Statue in Lusaka, the issuing authority of legal tenders in Zambia, in the middle there is the National Assembly, the face value of the banknote in words in the lower left corner, and in numerals. SIMILAR CONTENT. Industry-wide profitability increased by 10. 3700: 23. 1% in 2024, WB Forecasts. LUSAKA. This article is for subscribers only. 2 billion at the end of March. In Zambia, the bank currently controls 13 branches. One of the services offered in most banks in the country include the option to open a foreign currency account. 2856. 00 K10. The banks include Indo-Zambian Bank, Zambia National Commercial Bank, First National Bank, AB Bank, UBA Bank, Cavmont Bank and Absa (formerly Barclays). Therefore, it represents a significant improvement over previous analyses. The restructured bank opened for business on 23 October 2018, in Lusaka, Zambia's capital city, with new shareholders and under new management, in a ceremony presided over by the then Minister of Finance, Margaret Mwanakatwe. com is the world’s trusted currency authority. The certificate must be in English or in one of the corresponding. First National Bank of Zambia Limited. Minimum investment amount of ZMW100,000 for local bonds and USD50,000 (or equivalent) for foreign bonds. Zambia's annual inflation rate dropped to a near 3-1/2-year low of 9. Enter the country of receipt – Zambia. 5% with effect from. 13, it said in a circular on. Step 1: Visit Online Banking or SC Mobile app and log in to your account. United States Dollar to Zambian Kwacha. LUSAKA, November 8, 2017 – Mary. 50 ZMW 39. Rates change according to market price. ZMK replaced by ZMW. The report shows that that digital financial services in Zambia have increased significantly since 2016, laying the. 6% of the population—were active in Zambia at the beginning of 2023. The Strategy is designed to assist Zambia sustain economic growth while diversifying the economy and strengthening country competitiveness. ZM BANK OF ZAMBIA BANK OF ZAMBIA LUSAKA BANK SQUARE, CAIRO ROAD. About us. 15) the number of beneficiaries of the social cash transferFurther, the Banking and Financial Services Act No. When buying US dollars or Zambian kwachas money transfer specialists typically offer better rates and cheaper fees than a local bank. FINANCIAL AND OTHER STATISTICS 1 Table 1: Selected Macroeconomic Indicators, 2012 - 2021 *The GDP numbers for 2021 are prelimimnary Source: Bank of Zambia, Zambia Statistics Agency and Ministry of FinanceThe Bank of Zambia has raised the Monetary Policy rate to 9-percent from 8. 9% in 2023 and 4. May 18, 2022.