of transactions are done in cash, to a cash - lite economy, with transactions becoming electronic. this move towards modernization supportive of e - commerce might be of particular interest to business people such as yourselves. on our part, we see the role innovations play in on - boarding currently excluded markets into the formal financial system. 3 / 4 bis central bankers'speeches but there is still much to be done. we count on you, rcm to help us in our financial inclusion efforts to collaborate with us towards maintaining a more stable, conducive and stronger business environment. i am confident that the returns on this, far from just being financial or proprietary, will be more satisfying and enduring. i end with a simple but powerful quote from deepak chopra “ if you want something, give it. ”. what one gives out, we know, returns somehow. as we work towards society ’ s positive transformation, we do not shirk at the possibilities of being at the receiving end. thank you for your kind attention. 4 / 4 bis central bankers'speeches

caleb m fundanga : the bank of zambia – placing a high premium on education speech by dr caleb m fundanga, governor of the bank of zambia, at the signing ceremony of the memorandum of understanding between the bank of zambia and the university of zambia, lusaka, 23 november 2007. * * * the vice chancellor the deputy vice chancellor the registrar the deans of various schools heads of departments present faculty members invited guests ladies and gentlemen i feel greatly honoured to once again participate in the signing of the memorandum of understanding ( mou ) between the bank of zambia ( boz ) and the university of zambia ( unza ). the bank of zambia and unza have a long standing relationship which is intertwined in more ways than one. i am sure that the majority of employees in the bank that possess a first degree have this university to thank for that achievement. it therefore gives me pleasure to stand here and undertake this function of signing the mou between our two institutions. vice chancellor, the bank places a very high premium on education. it is for this very reason that it has this day decided to renew its financial support to the university of zambia ’ s department of economics. under the new agreement, the bank has increased the level of support to unza to include setting aside a special fund specifically for research purposes and procurement of personal computers ( pcs ) and software for the same purpose. we in the bank consider research as very important because it forms the basis upon which we formulate our policies and execute our operations. to underscore this point, the bank of zambia launched the boz reader series a few years ago as a means of having articles of economic interest being published for the benefit of the zambian public. the three publications of the boz reader that have been published so far have largely contained articles prepared by boz members of staff. however, our intention has always been to have a wider network of contributors. with the signing of this agreement, we hope to see more economics related research being undertaken by faculty members in the department of economics on behalf of the bank. we further urge the university of zambia to be a key and keen contributor to the publications. the university of zambia economics department should coordinate with our economics department on this matter. in addition to the research fund, the monthly salary supplementation for faculty members in the economics department has been adjusted up by 64 %. meanwhile, the bank has continued to recognize academic excellence among economics students at unza. for this reason, the