chairperson, as you deliberate at this conference, i expect that you will challenge yourselves to the issues that i have outlined above. accelerated growth and adoption of mobile payments are possible but we must in the process adequately address issues of cost of mobile payments, security of payments, ease of use of technological platforms and design of compatible and interoperable platforms. the bank of zambia looks forward to receiving the recommendations and outcomes of this conference. i thank you and wish you fruitful deliberations. bis central bankers ’ speeches

##2. 9 billion compared to the increase of 13. 9 % in 2006. the lusaka all shares index almost doubled, rising by 92. 9 % to close the year at 3, 533. 52 points compared to an increase of 47. 7 % in the previous year. this robust performance was a reflection of strong macroeconomic fundamentals in the economy and positive investor expectations in the growth and earnings prospects for both listed and quoted companies. government introduced 7, 10 and 15 - year bonds to help deepen the financial markets in 2007. foreign investments in government securities rose to k830. 5 billion as at december 2007 from k539. 8 billion recorded end - december 2005, an indication of the rising confidence in the economy. 2. 7 fiscal developments on the fiscal front the government is expected to limit domestic borrowing to 1. 2 percent of gdp in 2008. by reducing levels of government borrowing and enforcing prudent budget execution, this should result in greater mobilisation of domestic resources and effective coordination with the monetary authorities. zambia has articulated its long - term development objectives in the national long term vision 2030, which is aimed at raising zambia to a middle income status by 2030. part of this vision is enshrined in the fifth national development plan ( fndp ) ; 2006 - 2010 whose theme is : “ broad based wealth and job creation through citizenry participation and technological advancement ”. the growth of the economy will be driven by increased activities by the private sector in agriculture, mining, export - led manufacturing and tourism. government will support this growth by accelerating the implementation of structural reforms and promote investing in key infrastructure such as roads, energy and telecommunication in conjunction with the private sector as well as improve legal, institutional and regulatory frameworks. 3. 0 infrastructure development in order to consolidate the recent economic successes and to realize full potential, zambia needs to address the large infrastructure gap that is inhibiting further growth. weak infrastructure such as : roads, rail system, airports / airstrips and other communication barriers reduce the ability to take advantage of the good location that the country has. furthermore investment, particularly in rural infrastructure needs to be scale - up significantly. poor infrastructure and inadequate access is resulting in significantly increased cost of doing business, making it difficult to integrate the rural population with the rest of economy. opportunities for investment in infrastructure development exist in the following sectors : 3. 1 transport and communication the generally good land route communication networks of zambia ’ s neighbouring countries have