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The Bank of Zambia (BoZ) is set to introduce a new capital adequacy framework for banks and financial institutions aimed at strengthening capital quality and expanding access to financial services.
BoZ Governor, Denny Kalyalya, in a speech delivered by Assistant Director, Owen Mooka, during the reopening of First National Bank (FNB) Zambia’s Cairo Branch in Lusaka on Thursday, said the upcoming framework follows extensive consultations with stakeholders.
“For the financial sector to remain the anchor of economic growth, it must be resilient to shocks,” Kalyalya stated.
“The Bank of Zambia remains committed to implementing measures that enhance the safety and soundness of financial and payment services,” he noted.
Kalyalya added that the new capital adequacy regime would improve the quality of capital held by banks and support broader financial service provision across the country.
Commenting on the newly opened FNB branch at Central Park, Kalyalya commended the bank for its continued support to both businesses and individuals.
He said that a robust financial sector underpinned economic development by enabling efficient resource allocation and facilitating trade.
“As you may all be aware, the previous FNB Cairo Road branch was located at Society Business Park. Unfortunately, it had to be relocated due to the closure of the building last year. However, we appreciate that FNB took swift action by establishing a temporary branch nearby to ensure uninterrupted service delivery,” he said.
FNB Zambia Chief Executive Officer, Kapumpe Chola, emphasized that the new branch was designed to meet the needs of both digital-first and walk-in clients, offering services ranging from account opening to loan support and financial advisory.
“We made a promise to our customers when we temporarily closed the Society Business Park branch — that we would return stronger, better, and more accessible. This branch fulfils that promise,” Chola said.
Head of Retail Banking, Mwamba Musambo, acknowledged customer loyalty during the transition period and described the new Cairo Branch as a symbol of the bank’s renewed commitment to customer-centric service.
“Your loyalty during that period spoke volumes. We’re proud to return with the new Cairo Branch — a space that reflects our vision of turning banking into a seamless and personal experience,” Musambo said.
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