Denny H Kalyalya: 60 years of central banking - repositioning for
sustainable and inclusive growth in a digital world
Speech by Dr Denny H Kalyalya, Governor of the Bank of Zambia, at the tree planting
exercise to commemorate Bank of Zambia's 60th anniversary, Mumbwa, 21 August
2024.
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SALUTATIONS
His Royal Highness Chief Mumba
His Royal Highness Chief Moono
His Royal Highness Chief Mulendema
Mumbwa District Council Chairperson, Mrs Chali Masumo
The District Commissioner, Mrs Namukulo Hayumbu
Deputy Governor - Administration, Mrs Rekha Chifuwe Mhango
Council Secretary
Area Councillors
National Heritage Conservation Commission Board Member - Commissioner Muliokela
Directors from the Bank of Zambia and National Heritage Conservation Commission
Representatives from Various Government Ministries
Distinguished Invited Guests
Members of the Media
Ladies and Gentlemen
Good morning
It is my honour and privilege to warmly welcome you all and express our gratitude for
joining us this morning in the tree planting exercise. This is no ordinary exercise for us.
It forms part of our 60th anniversary commemoration. For those among us who didn't
know, the Bank of Zambia was established on August 7, 1964, some two months ahead
of our country being declared independent on October 24, 1964. To commemorate this
major milestone, we thought of doing something out of the ordinary which contributes to
the sustainability of the environment we live in. In this vein, we coined the theme of our
60th anniversary celebrations as, "60 years of Central Banking: Repositioning for
sustainable and inclusive growth in a digital world." Accordingly, leaning on the United
Nations' Sustainable Development Goal (SDG) No. 13, which encourages all of us to
take action against climate change, we decided to undertake an eco-conscious initiative
to plant trees to mitigate the impact of climate change.
Distinguished Guests, the need to reduce emissions from deforestation cannot be
overemphasised. You will agree with us that the forest eco-system in Zambia is
threatened by land use practices that do not take into account the protection of forests.
For society to reach inclusive and sustainable growth, economic agents must
participate in economic activity without harming the environment.
Distinguished Guests, as we gather this morning, we recognise that our environment is
facing numerous challenges, from deforestation to climate change related ones, which
are becoming more frequent and severe. It is, therefore, our collective responsibility to
address the challenges we are able to and work towards a sustainable future. Planting
trees may seem like a small gesture, but in the long run, we believe, it has a significant
impact. Each tree we plant today is an investment in the wellbeing of our community
and generations to come. The benefits of our efforts today will contribute to cleaner air,
improved biodiversity, and a more resilient ecosystem.
Distinguished Guests, allow me to reflect a little further on the importance of planting
trees. Trees are the lungs of our planet which provide us with oxygen. As Antonio
Guterres, the United Nations Secretary General, once said "Forests are lungs of our
planet which draw in carbon dioxide and breathes out oxygen."
Trees play a critical role in maintaining ecological balance. We need to cultivate a
culture of planting trees to mitigate the effects of climate change. Consequences of
deforestation are many and dire. These include soil degradation, water conservation
and ozone layer depletion, an increase in the atmospheric level of carbon dioxide and
extinction of plant species, among others.
Distinguished Guests, since trees play an important role in human life, they must be
preserved at all times. Failure to do that will result in climate change continuing to
impact negatively on human survival. It has been observed that cutting down of trees is
not only rampant here in Mumbwa, but in many other parts of the country as well. Good
corporate citizenship calls for a conscious alignment of business operations with social,
environmental and economic responsibilities to the benefit of both society and the
business. I would like to urge everyone, individually and collectively, to develop a
culture of planting trees. This is an important way we can contribute to the health of our
planet.
For us as an institution, the concept of CSR requires us to raise our social
consciousness in the communities we operate in. Through this awareness, underpinned
by our values, we hold ourselves accountable for the impact our operations have on the
environment, seek ways to uplift our society and promote sustainable development.
Distinguished Guests, I am happy to inform you that the Bank deliberately chose to
partner with the National Heritage Conservation Commission (NHCC) knowing that the
saplings we are planting today will be nurtured - taken care of and provided with an
environment to grow into mighty trees that will stand for years to come.
Distinguished Guests, you may also wish to note that the Bank was presented with a
number of sites to be considered for support. The choice of these premises, the
Mumbwa Caves, was in recognition of their historic and scientific significance. The
caves are an exceptional site because of the deposits and preservation of organic
remains found here. The site preserved human and animal bone in some of its
8-meterdeep deposits. The caves are an important archaeological site as they are believed to
have provided shelter to prehistoric man and, are an important centre for present day
cultural activities as demonstrated by the revival of a number of Kaonde-Ila traditional
ceremonies being conducted at the site.
Further, the Bank was given an assurance that resources have been secured for drilling
of a borehole in the area. With water provided, we can rest assured that the saplings
will grow into a forest.
As I conclude, I want to urge business houses in the country to develop a culture of
planting trees in their various areas of operation. This act will contribute to global
reforestation efforts, repair the damaged ecosystem, and engender the culture of
climate change mitigation.
Let me end by appealing to all of us to save trees in order to save our lives. I may
venture say, many of us react to the presence of trees with a pleasant, relaxed, and
comfortable feeling. The Bank of Zambia will remain steadfast in supporting sustainable
practices.
Allow me to extend our sincere gratitude to Their Royal Highnesses, the National
Heritage Conservation Commission and all other stakeholders who contributed in one
way or another to making this exercise possible.
THANK YOU FOR LISTENING. GOD BLESS!