By CATHERINE NYIRENDA –
PARLIAMENT has unanimously ratified the appointment of Denny Kalyalya as Bank of Zambia (BoZ) Governor.
Dr Kalyalya takes over from Dr Michael Gondwe whose contract was recently terminated by President Edgar Lungu.

. Kalyalya

Dr Kalyalya holds a Doctorate, two Masters Degrees and a Bachelors of Arts, all of them in Economics.
Moving the motion MMD Mafinga Member of Parliament (MP) Catherine Namugala told the House that all witnesses’ including professional bodies that were invited to scrutinise the nomination of Dr Kalyalya supported his appointment.
“The nominee has the relevant experience in development finance having served as an executive director of the World Bank group and has a vast understanding of the financial market considering his qualification and experience,” Ms Namugala said.
Ms Namugala who was the chairperson of the Parliamentary select committee was also happy that the relevant security agencies did not find any criminal cases against Dr Kalyalya.
“The committee is happy that Dr Kalyalya had the relevant qualifications and experience for the job, having worked for the Bank of Zambia for 14 years as economic advisor and later rose to the position of deputy governor,” she said.
She said the Committee was confident that Dr Kalyalya would help reduce interest rate and stablise the Zambian currency.
She said the committee was also confident that Dr Kalyalya would help the Bank of Zambia in its role of monitoring and supervision of the commercial banks in Zambia.
Patriotic Front (PF) Nchelenge MP Raymond Mpundu said in seconding the motion that Dr Kalyalya had sufficient knowledge and his role as deputy governor at the Bank of Zambia exposed him to the intricacies of the financial and capital market.
Mr Mpundu said Dr Kalyalya was capable of discharging functions of Governor of the Central Bank which aims at fostering sustainable economic and social growth.
Contributing to the debate MMD Lunte Member of Parliament (MP) Felix Mutati who welcomed Dr Kalyalya’s appointment appealed to him to ensure that the inconsistencies in the fiscal polices was addressed.
He said the new governor should among other things deal with the refund of the US$ 600 million dollar debt owed to the mines and respond to the challenges of the Small and Medium Enterprises (SMES).
He advised him not to be tempted to deplete the reserve to support fiscal expenditure as it would be a wrong direction to take.
United Party for national Development (UPND) Bwengwa MP Highvies Hamududu commended President Edgar Lungu for making two commendable appointments that of Dr Kalyalya and Chief Justice Irene Mambilima.
Finance Minister Alexander Chikwanda commended the House for the ratification of Dr Kalyalya as Bank of Zambia Governor and was happy that President Lungu recommended to the House a marketable individual.
Mr Chikwanda was optimistic that as an accomplished economist, practical man, a good communicator and humble man, Dr Kalyalya was capable of delivering a good service to the people of Zambia.