Zambia: Boz Pushes Kwacha Into SADC Trade

The Bank of Zambia (BoZ) says efforts are being made to include the Zambian Kwacha as a settlement currency on the Southern African Development Community (SADC) Integrated Regional Electronic Settlement System (SIRESS) for payments.

SIRESS is an electronic cross border fund transfer system that facilitates settlement of funds within the region in real time and on a gross basis.

BoZ governor Denny Kalyalya said progress had been made, in that trading on the platform was already taking place and Zambia, including other countries within the SADC region was working at ensuring that other currencies were included on the settlement platform.

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