The Bank of Zambia (BOZ) has expressed it’s commitment to promoting inclusive and sustainable Development in Zambia through the the launch of the 2024 to 2027 strategic plan.
Speaking during the Launch of the 2024 to 2027 strategic plan themed “promoting inclusive and sustainable Development in a Digitalized world,” attended by the Zambian Business Times -ZBT, Bank of Zambia Governor Dr. Denny Kalyalya said that the focus areas of the strategic plan are on price stability, financial stability, financial inclusion and organisational resilience and growth.
Dr. Kalyalya said that the focus areas will be directed at addressing key challenges and opportunities in the financial operating environment.
He said that the strategic plan will also give guidance to the bank on sustainable stable prices, financial system, financial inclusion and organisational resilience and growth.
He noted it is anticipated that by the end of the plan period, substantial accomplishments will be made in extending financial services to the unbanked and underbanked sectors.
“iam pleased to launch the Bank of Zambia strategic plan for the period 2024-2027. This plan has four focus areas, price stability, financial stability, financial inclusion, organizational resilience and growth. These focus areas are directed at addressing key challenges and opportunities in the operating environment,” he said.
“As the economy is recovering from the adverse effects of COVID-19, new challenges such as the effects of climate change, cyber risks, ongoing geopolitical tensions and debt overhang have emerged. These challenges pose threats to the financial sector and sustained economic growth.”
” The bank has developed a strategic plan that will guide it towards sustainable stable prices, financial system as well as enhanced financial inclusion. The strategic plan also sets sets clear targets to foster internal organisational resilience and growth,” said Dr. Kalyalya.
Dr. Kalyalya revealed that that the Bank of Zambia will leverage information and communication technologies to achieve the goals outlined in the strategic plan.
He noted that the 2024 to 2027 strategic plan was formulated after wide consultations with internal and external stakeholders.
He therefore thanked everyone who made contributions to the successful development of the strategic plan.
“This plan underscores our commitment to serving the people of Zambia through delivering on our mandate. It has been formulated after wide consultations with internal and external stakeholders. Finally, I would like to thank everyone who contributed to the successful development of this strategic plan. Together let us build a resilient, inclusive and prosperous Zambia,” said Dr. Kalyalya.
Meanwhile Ministry of Finance and National planning Dr Situmbeko Musokotwane commended the Bank of Zambia Governor and his team for wide consultations with internal and external stakeholders.
Speaking during the Launch, Musokotwane said, the new strategic plan will guide and focus its activities for the period 2024 t0 2027.
this is the 6th plan since the bank of zambian formalized the strategic planning in 2003, the importance of a strategic plan can not be over emphasized.
“I therefore commend the Bank of Zambia for incorporating environmental, social and Governance issues in the 2024 – 2027 strategic plan.” said Musokotwane.
