Board of Directors
The Bank of Zambia Board of Directors is the authority in which all the functions of the Bank are vested and it is responsible for policy formulation.
The Board is composed of the Governor, as Chairperson, six Non-Executive Directors (NEDs) and the Secretary to the Treasury who, as an ex-officio member, does not have voting rights or count towards a quorum.
The NEDs are appointed by the Minister of Finance and National Planning from persons with professional or academic experience in business or financial matters and who are not employees of the Bank. The Vice Chairperson is elected by the members from their numbers. NEDs also sit on Board Committees namely: Audit and Finance; Governance and Risk; Appointments and Remuneration; and Monetary Policy and Advisory Committee.
Directors of the Board are appointed for a period not exceeding three years and are eligible to be reappointed for another three years. The current Board members were appointed on 29th December 2021 and are as stated below:
