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Zambia

 

Zambia, a landlocked country in south-central Africa, is about one-tenth larger than Texas. It is surrounded by Angola, Zaire, Tanzania, Malawi, Mozambique, Zimbabwe, Botswana, and Namibia. The country is mostly a plateau that rises to 8,000 ft (2,434 m) in the east.

History

Early humans inhabited present-day Zambia between one and two million years ago. Today the country is made up almost entirely of Bantu-speaking peoples. Empire builder Cecil Rhodes obtained mining concessions in 1889 from King Lewanika of the Barotse and sent settlers to the area soon thereafter. The region was ruled by the British South Africa Company, which Rhodes established, until 1924, when the British government took over the administration.

From 1953 to 1964, Northern Rhodesia was federated with Southern Rhodesia (now Zimbabwe) and Nyasaland (now Malawi) in the Federation of Rhodesia and Nyasaland. On Oct. 24, 1964, Northern Rhodesia became the independent nation of Zambia.

Kenneth Kaunda, the first president, kept Zambia within the Commonwealth of Nations. The country's economy, dependent on copper exports, was threatened when Rhodesia declared its independence from British rule in 1965 and defied UN sanctions, which Zambia supported, an action that deprived Zambia of its trade route through Rhodesia. The U.S., Britain, and Canada organized an airlift in 1966 to ship gasoline into Zambia.


 

Development Bank of Zambia

                                                  The Development Bank of Zambia (DBZ) is a

                                                  Development Finance Institution (DFI) established in

                                                  the early 1970s by an Act of Parliament, as a joint

                                                  venture between the Government of the Republic of

                                                  Zambia (GRZ), Public Sector Financial Institutions,

                                                  on one hand, local private sector and foreign

                                                  bilateral and multilateral institutions, on the other. 

                                                  At inception GRZ and Public Sector financial Institutions constituted the class ‘A’ shareholders and held 90% of the shares while the balance of 10% was held by the class 'B’ shareholders. The Bank has played a pivotal role in promoting Zambia’s economic development.  In its mandate to provide medium and long term development finance, the Bank invested extensively in Agriculture, Agro and Mineral Processing, Forestry, Quarrying, Textile Pulp and Paper, Fisheries and Manufacturing sectors.  Between the 1970s and early 1990s, the Bank held its place as the most significant financing institution providing medium and long term finance for fixed assets to medium and large scale enterprises in Zambia.  As the major catalyst in the establishment of industries, the Bank has been the cradle of Zambia’s industrial and commercial development. The Bank has recently undergone financial, organisational and operational restructuring under the auspices of the Development Bank of Zambia Amendment Act No. 11 of 2001. The basis of the Development Bank of Zambia Restructuring is the Development Bank of Zambia (Amendment) Act which was passed by Parliament in November 2002 when Honorable Minister of Finance and National Planning signed the appropriate Statutory Instrument (SI)

 

The Bank’s strategic objectives for achieving its mission and playing an effective developmental role in Zambia are:

- To effectively mobilise short, medium and long term financial resources required for development.

- To provide on profitable and competitive terms short, medium and long term financial resources.

- To promote economic activities which contribute to the creation or expansion of employment.

- To promote economic activities in the export sector to enhance foreign exchange earnings.

- To contribute to the expansion of economic and productive activities involving domestic entrepreneurs in order to develop a sound indigenous private sector.

- To promote environmentally friendly commercial and industrial activities.

- To contribute to the development of Zambia’s capital market.

- To maintain and enhance shareholder value and make payment of dividends.

CORE VALUES

 

The Bank will uphold the following three (7) core values:

 

1. Innovations                      2. Customer Focus      3. Recognition

4. Effectiveness                  5. Diligence                    6. Integrity

7. Teamwork

© 2023 by Success Consulting.

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