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This research study posits that uncertainty surrounding the future direction of monetary policy is a critical determinant of volatility in government securities. In particular, it emphasizes that fluctuations in the policy rate often used as the primary instrument of monetary authorities play a...

Monetary policy, including high-interest rates and tight credit conditions, significantly constrains financing for hardware store SMEs in Kabwata, leading to high financing costs and limited growth, while poor record-keeping and lack of collateral further exacerbate credit access challenges....

The rapid expansion of digital financial technologies has transformed credit access through Peer-to-Peer (P2P) lending platforms, which directly connect borrowers and investors. In Zambia, where 30.6% of adults remain financially excluded, platforms such as PremierCredit and Lupiya are expanding...

The effectiveness of monetary policy in Zambia is undermined by foreign exchange (FX) market inefficiencies, including lack of transparency, fragmented monitoring mechanisms, and limited regulatory enforcement. These shortcomings contribute to inflation volatility and weaken the capacity of the...

This study investigates the relationship between macroeconomic indicators and the NonPerforming Loan (NPL) Ratio in Zambia over a two-decade period (2003–2022/23). The research was motivated by the persistent challenge of high NPLs in Zambia’s banking sector, which undermines financial stability,...

This study develops a proactive approach to measuring systemic risk in Zambia’s banking institutions, addressing the inadequacies of existing methodologies that rely on stock market data and focus primarily on the industry as a whole rather than individual institutions. Using a combination of...

Just like other sectors, energy sector in Zambia has faced exchange rates volatility for a long time. Research has shown that Zambian kwacha has been unstable and that it has been depreciating. This study aimed at assessing the effect of foreign exchange rates on the financial performance of...

The implementation of the Treasury Single Account (TSA) in Zambia brought about drastic changes in the management of public funds. The Bank of Zambia assumed custodianship of public funds while Commercial Banks remain revenue collection agents throughout the country. This study investigated the...

Banking sectors play a crucial part in the growth of a country's economy. As a result, the banking sector's stability is critical to an economy's growth. However, commercial banks are faced with external environmental changes that may render negative as well as positive impacts on commercial...