as is reflected in the volatility and weakening of the kwacha exchange rate in the recent past. the result of all this is lower government revenues and more expensive imports which would in turn culminate in higher inflation. unfortunately, for a low income country like zambia, lower government revenue entail lower spending on social amenities including education and health. high cost of goods and services also mean that most of our citizens would not afford to educate their families. ladies and gentlemen, as we strive to achieve the vision of becoming a middle income country by the year 2030, we shall no doubt be confronted with such and many more similar challenges both economically and politically. to be well prepared for such trying times ahead, we need to groom our best talents to assume leadership positions in all sectors of the economy. to achieve this vital task of nurturing our future leaders, the government is trying its level best to provide education to all zambians. the government has done well thus far and should be implored to continue doing so. however, providing education for the benefit of all citizens is never an easy task due to other budgetary pressures exerted by other competing sectors like health, agriculture, and community development etc. if we are to achieve education for the majority of our people, we need concerted efforts from all stakeholders including private institutions and charitable organisations like the masomo education foundation. mr president, i am informed that the objective of the foundation is to educate young zambians at local colleges. i am particularly pleased that the foundation is utilizing local educational institutions. this should be commended as it demonstrates the confidence you have in the calibre of our learned colleagues at these institutions. having been a lecturer at the university of zambia in the earlier days of my career, puts me in a better position to understand the passion and deep knowledge of the local issues the zambian teachers and lectures possesses. i have no doubt that supporting our local institutions will lead to a stronger motivation and morale in our teachers. to this end, my institution, the bank of zambia, currently provides scholarships to the university of zambia and the copperbelt university. additionally, we also provide salary supplements to relevant departments as a way of encouraging our zambian academics who are working under very difficult and challenging situations. furthermore, i am reliably told, that the masomo scholarship is conferred only on the best and intelligent young men and women. the stringent selection criteria ensure that only deserving candidates possessing outstanding performance in academic and co -

will emulate your commitment towards developing the youths so that they can contribute to the welfare of our country. mr. president, i salute and urge you to keep up with the good work that you are doing. to the sponsors and the board of directors, may the good lord continue blessing your deeds and may he give more to those who had a hand in helping the cause. let me finish by saying that i can not wait to see these beaming young faces to lead our future generations into a better zambia and a better life for all. i thank you.