Denny Kalyalya is new Bank of Zambia Governor

Dr Kalyalya speaking to Journalists in file picture
Dr Kalyalya speaking to Journalists in file picture

President Edgar Lungu has appointed Dr. Denny Kalyalya as Governor of the Bank of Zambia with immediate effect, replacing Dr. Michael Gondwe who will be assigned a new role elsewhere.

The three-year contract appointment is pursuant to the powers vested in the President under Section 10 of the Bank of Zambia Act Number 43 of 1996.

President Lungu notes that in his previous assignment as Deputy Governor-Operations,Dr Kalyalya served commendably well and that his service at the World Bank as Alternate and later as Executive Director for four years was distinct.

President Lungu says Dr Kalyalya boosted Zambia’s image and was held in high esteem by his colleagues.

Mr Lungu in his letter to Dr Kalyalya says his experience and knowledge in the sphere of economics should stand him in good stead to help the country at a time when it faces enormous challenges largely on account of external factors.

The President has stressed that Government would rely on the Central Bank to take measures that stimulate the economy and widen participation by small and medium enterprises as a veritable strategy for employment creation.

The Head of State has paid unqualified gratitude to Dr Gondwe for serving with distinction both at home and abroad.

President Lungu notes that the vast reservoir of knowledge, experience and contacts Dr Gondwe posses will enable him serve Zambia well in his new role.

Meanwhile, President Lungu has appointed Luapula Province Police Commissioner, Malcom Mutale Mulenga, as Deputy Inspector-General of Police with immediate effect.

The appointment is pursuant to the powers vested in the President under Article 44 of the Constitution.

The President announced last week that he would appoint two deputies: one for administration and the other for operations in order to improve service delivery.

The Head of State has also renewed the contract for the Inspector-General of Police, MStella Libongani for another term starting February 20 when her current contract comes to an end.

This is contained in a statement issued to QFM News by Amos Chanda the President’s Special Assistant for Press and Public Relations.