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DENNY Kalyalya.

Finance community welcomes Kalyalya appointment

THE finance and business community has welcomed the appointment of Denny Kalyalya as Bank of Zambia (BoZ) governor.
Private Sector Development Association (PSDA) president Yusuf Dodia said Dr Kalyalya brings with him vast international experience in monetary policies having spent years at Bretton Woods Institute.
“I have no doubt that he is certainly qualified to hold this portfolio having previously worked as operations director at the Central Bank,” he said.
Mr Dodia said he expects Dr Kalyalya to apply mechanisms that will support Zambia’s economic development, including ensuring that the wealth through natural resources is employed in the financial sector.
Zambia Chamber of Commerce and Industry (ZACCI) chairperson Geoffrey Sakulanda said Dr Kalyalya is a seasoned economist.
Mr Sakulanda said Dr Kalyalya is a qualified banker, who can inspire confidence in the banking sector.
“As you have read from the statement President Lungu has issued about him, Dr Kalyalya is a respected economist, who is also esteemed by his colleagues,” he said.
According to Mr Sakulanda, he would like Dr Kalyalya to address availability of affordable credit to businesses.
He said commercial banks issue short-term credit but if institutions like Development Bank of Zambia and others can be recapitalised, they will lend business houses long term credit.
Mr Sakulanda said this will enable business houses set up manufacturing companies, which can contribute to growing the economy.
He said Dr Kalyalya understands matters concerning the economy and has no doubt he would provide the necessary leadership at the central bank.