of access to financial services to 48 % by 2008 and 50 % by the end of 2009. following the earlier survey, a subsequent study called the “ finscope supply – side survey ” was conducted in 2007. some of the key findings were that : a. bank charges are unaffordable for 90 % of the rural adult population in zambia ; b. zambian banks generally have high operating costs and interest rate spreads ; and c. the physical coverage of financial outlets may not increase at current cost levels. it is therefore, my hope that this forum will address these and other challenges that slow the pace of financial inclusion in our countries. honourable minister, over the past two years, we have noted with delight that financial institutions in zambia are beginning to rise up to the challenge by beginning to broaden the scope of their financial services and extending their services beyond the traditional customers to include previously unbanked communities. in addition, the zambian financial sector has in recent years experienced growth in numbers of both registered commercial banks and non – bank financial institutions. we in zambia, therefore, see this forum as being timely and providing a unique opportunity for african financial institutions to share knowledge and experiences on how best to promote financial inclusiveness, particularly among our rural and peri - urban communities who have since not been fully integrated in the financial systems of most of our countries. this entails that they are not effectively participating in the economic growth that is being experienced in these countries. this forum also comes at a time that we in zambia have just lost a statesman who was passionate about rural development and empowerment of all citizens. the conference theme therefore, is appropriate for us as we carry on the vision of our beloved late president, dr. levy patrick mwanawasa, sc ( m. h. s. r. i. p ). in this respect, we would also like to acknowledge the many expressions of sympathy extended to us during our time of mourning. distinguished delegates, on behalf of afraca, i would like to thank our various presenters and panelists for accepting to facilitate our deliberations over the next two days. i would therefore, like to implore all delegates to engage fully in these discussions and make the most of the wealth of knowledge and experience represented in the house. ladies and gentlemen, it is my pleasure and privilege once again to welcome you to the second afraca central banks ’ forum. i now wish to invite our distinguished guest of honour, the minister of finance and national

of licensing and enforcement before moving to the bank of zambia. to say something about my academic qualifications, i graduated with a bachelor of laws degree from university of zambia, thereafter a master of laws degree from harvard where i was a fulbright scholar and a phd from university of london, centre for commercial law studies, queen mary and westfield college. allow me to mention that all my studies were done on scholarship. bis central bankers ’ speeches apart from my work, i am also involved in service to the public and to the church through sitting on various bodies. i was not appointed to this position my chance ; it took effort and hard work to be noticed. i believed in myself and knew i had to put in the best to achieve anything i wanted to achieve. so what message do i carry for you this afternoon? my theme is that you can do it! to you the students, i want to encourage you to see yourselves as leaders. you are the future of this nation. you are part of the cream that need to push this country forward. i would like you to realise that academic and professional qualifications are an integral part of settings yourselves up for one ’ s life. by being here, you are establishing a path for your successful career whether as an employee or an entrepreneur. the knowledge that you are gaining is assisting in developing and enhancing your ability to think and perceive as well as manage the various situations that life offers. the outcome of your academic development will obviously have a positive impact on your family, society, culture and country at large. make sure you take full advantage of this opportunity. it sets the stage for the rest of your future. if you graduate from here with poor grades will mean you have limited your access to top notch institutions, should you, for example, wish to get an advanced qualification. you are limited even to apply for scholarships. and in situations of competition, the best will be selected. zcas is one of the renowned institutions in zambia. one thing you must realise is that not everyone has the opportunity to be enrolled in an institution of higher learning to obtain an academic or professional qualification. therefore, you must make the best of this opportunity to be here at zcas and indeed, be thankful to god. many of your friends are not able to have this opportunity. i am also aware that for quite a good number, it is a great sacrifice by your parents to send you here. you should ensure that this investment pays off by putting in your best. discipline for many of