Bank of Zambia Governor Danny Kalyaya says the central bank is expected today to sign a Memorandum of Understanding with the Central bank of Tanzania to help with the smooth flow of currency between the two countries.
Dr.Kalyalya said this yesterday when he paid a courtesy call on both Nakonde District Commissioner Field Simwinga and her royal highness Chieftainess Waitika of the Namwanga people of Nakonde.
The Governor said the Memorandum is expected to help with a smooth flow of goods and services between Tanzania and Zambia.
Dr. Kalyalya added that this will also help banks stalk both currencies making it easy for those who wish to transact their business in either kwacha or Shilling.
And Nakonde District Commissioner Field Simwinga said the move by the two countries to sign a Memorandum of Understanding will help reduce cases of illegal money changers as business personnel’s will easily access either currencies in the banks.
The DC said this will reduce cases of people being duped by illegal money changers when they come to the border for business purposes.
And Chieftainess Waitwika has welcomed the move by the two countries to sign a Memorandum of Understanding as it will help strengthen the relationship between the two countries.