caleb m fundanga : the bank of zambia ’ s management development programme for managers remarks by dr caleb m fundanga, governor of the bank of zambia, at the opening of the management development programme for managers, livingstone, 4 - 15 december 2006. * * * • director – human resources • assistant director – organisation development • the consultants • participants • ladies and gentlemen i welcome you all to this management development programme. management development programmes are crucial not only to staff development but also to the realisation of the bank of zambia vision. as you are aware, our vision is “ to be a world class central bank ”. our vision can only be realised if the performance of our employees measures up to world class standards, because it is employees who make an institution what it is. in other words, we can not have a world class central bank without world class employees. ladies and gentlemen : i would like to refer you to our strategic plan document. you will note that in its values statement, the bank states that employees of the bank of zambia shall at all times endeavor to direct their efforts towards the achievement of the mission of the bank by consistently following the values encapsulated in the boz way. you will also note that the bank has, in turn, undertaken to support employees by, inter - alia, continuously enhancing the capacity of the bank through the development of all staff. this reflects the realisation by the bank that without world - class employees, its aspiration to be a world class central bank as stated in its vision statement cannot be attained. for the bank therefore, this programme is important because it is a step taken towards enhancing the skills of our staff to world class standards and is a commitment to attaining our vision. the programme you have come to participate in is unique in two respects. first, this programme is tailor - made or specifically designed for bank of zambia staff. second, it focuses on middle management which is a reflection of the importance that the bank places on the role that its middle managers play in helping it achieve its vision and mission. the programme has been designed to impart general management knowledge and skills to you our middle managers which will enhance your leadership and managerial abilities. the programme is designed to provide you with the tools that will enable you to contribute effectively towards the management of the bank and also to prepare you for succession as and when opportunities arise. the first module you will learn is on the functions of the board of the bank of zambia. this was included to

caleb m fundanga : achievements and accomplishments at the bank of zambia during the past forty years speech by dr caleb m fundanga, governor of the bank of zambia, at the 40th anniversary celebrations, lusaka, 5 - 6 august 2004. * * * chairperson, baroness lynda chalker of wallasey the guest of honour, his excellency, the president of the republic of zambia, mr levy patrick mwanawasa, state counsel honourable ministers honourable deputy ministers your excellencies members of the diplomatic corps honourable members of parliament present special guest, governor tito mboweni, governor reserve bank of south africa distinguished past governors of the bank of zambia senior government officials distinguished invited guests ladies and gentlemen on behalf of the bank of zambia and indeed on my own behalf, it is my singular honour and rare privilege to extend a warm welcome to you all as we commemorate the 40th anniversary of the establishment of the bank of zambia. i would also like to thank, his excellency, the president of the republic of zambia, for accepting our invitation to officiate at this special occasion. further, special thanks go to governor mboweni for accepting to deliver a key note speech and all foreign participants for coming. mr president may i mention that amidst this gathering are participants from sister central banks in the region that have come to celebrate this anniversary with us as well as zambians based outside the republic. mr president, ladies and gentlemen, this anniversary marks 40 years of dynamic transformations and achievements accomplished by the bank. some of the challenging issues that the bank has confronted in the past and likely to do so in the future form part of the selected topics of papers to be presented and discussed at this conference. this conference is therefore expected to provide a platform for sharing ideas required for practical solutions aimed at improving the bank ’ s deliverables. in doing so, however, we must be cognisant of global trends in central banking. madam chairperson, since its establishment in 1964, the bank of zambia has played an important role in the economy by formulating and implementing monetary, regulatory and supervisory policies in its quest for price stability. over this period, progress has been made towards the deepening of financial markets, specifically in the areas of monetary policy management, and the foreign exchange market. in addition, substantial improvements to the legislative and regulatory frameworks for banks and financial institutions have been attained. ladies and gentlemen, during the pre - liberalisation period from 1964 to 1991, monetary policy was largely characterised