Bank of Zambia

Pop Quiz Answers
1. The last day to deposit cheques in a commercial bank in Zambia is June 24, 2026.
2. The last day for interbank clearing of cheques in Zambia is June 26, 2026.

Congratulations to our winners Mudodi Madunka, Wonderful Councillor and Mutale James!

Thank you to everyone who participated.

Pop Quiz: Phasing out of Cheques
1. When is the last day to deposit cheques in a commercial bank in Zambia?
2. When is the last day for interbank clearing of cheques in Zambia?

State day, month and year in both responses. The first three fully correct entries will receive a branded gift.

Join us this morning for a live discussion on the phasing out of cheques as a payment instrument in Zambia. We look forward to interacting with you.

Representing the President of the Republic of Zambia, Mr. Hakainde Hichilema, Bank of Zambia Governor, Dr. Denny Kalyalya, officially opened the 2026 Copperbelt Agricultural, Mining, Industrial and Networking Expo (CAMINEX), Zambia’s premier Mining, Agriculture and Industrial Trade Expo on May 20, 2026. The Expo was held from May 19 – 21, 2026, under the theme “Collaboration for Growth, Developing Talent, Trust and Trade”. The President said the theme was apt as agriculture and mining continue to be the backbone of Zambia’s economy. He said the mining sector is a catalyst for national development as it drives and stimulates growth in several key areas of the economy.
And in an earlier engagement, Governor presented a keynote address at a Zanaco-sponsored Business Breakfast Meeting in the Kitwe showgrounds, alongside CAMINEX 2026. In his presentation, he demonstrated that Zambia’s macroeconomic environment is relatively stable, supportive of businesses to plan, invest, expand production and strengthen their competitiveness.
Governor’s Speech: https://www.boz.zm/news-detail/1f600794-4a72-43ef-83fe-a93d2a9ce28d

The Monetary Policy Rate has been reduced by 25 basis points to 13.25 %. The decision was arrived at by the Monetary Policy Committee (MPC) at its Meeting held on May 11-12, 2026. Governor, Dr. Denny Kalyalya, announced the decision at a Media Briefing held at the Bank of Zambia in Lusaka on May 13, 2026.

In arriving at this decision, the MPC took into account the expected favourable maize harvest during the current crop marketing season and the observed relative stability in the exchange rate of the Kwacha/US$. Although these factors are strongly supportive of a lower inflation path, anchored within the 6-8 percent target band, the Committee judged that the upside risks and uncertainty associated with the Middle East conflict warranted a cautious adjustment to the Policy Rate that maintains an appropriate stance of monetary policy.

Decisions on the Policy Rate will continue to be guided by inflation outcomes, forecasts, and identified risks, including those associated with financial stability.

The May 2026 Monetary Policy Report will be published on the Bank of Zambia website (www.boz.zm) by the end of the month. It contains detailed information on recent macroeconomic developments and the inflation outlook over the forecast horizon.

The next MPC Meeting will take place on September 28 and 29, 2026.

Statement: https://www.boz.zm/news-detail/67c6df25-c336-4f6c-835a-88aa8cae003b
Presentation: https://www.boz.zm/news-detail/a59fc9a1-952f-475d-b350-43d52ef83a5c

The Monetary Policy Committee is holding its quarterly meeting from May 11 - 12, 2026. This will be followed by the Monetary Policy Rate Announcement and Press Briefing on May 13, 2026.
The Press Briefing is by accreditation.

Full Notice: https://www.boz.zm/news-detail/225d4d65-8c52-425d-aed2-500fcda69b8b

The Bank of Zambia wishes to warn members of the public that the attached content currently circulating on social media is false and fraudulent. The matter has been reported to the relevant authorities for further investigation. Members of the public are urged to remain vigilant, exercise caution, and always verify information concerning the Bank through our official communication channels.