Four key regulatory bodies in Zambia – the Competition and Consumer Protection Commission (CCPC), the Bank of Zambia (BoZ), the Pensions and Insurance Authority (PIA), and the Securities and Exchange Commission (SEC) – have jointly launched a “Shared Policy Framework for the Financial Sector of Zambia.” Published in March 2020, this framework builds upon their existing Multi-Sectoral Memorandum of Understanding (MMoU) to provide comprehensive guidance for financial consumer protection across the sector.
The framework’s core objective is to enhance information exchange and foster effective collaboration among regulators to promote financial consumer protection, competition regulation, financial literacy, and inclusion in Zambia. The implementation will be spearheaded by a Joint Working Committee, overseeing joint activities, investigations, and streamlined complaint handling, all within the bounds of each institution’s legal mandate and with a commitment to confidentiality and resource sharing.
Note: This is a simplified summary. Refer to the full MMoU for detailed clauses.
The Chartered Institute for Securities & Investment (CISI) and the Securities and Exchange Commission (SEC) of Zambia have joined forces through a comprehensive Memorandum of Understanding (MOU) to significantly enhance professionalism and introduce globally recognized qualifications within Zambia’s dynamic financial services industry.
This strategic partnership was agreed upon in 2016 to establish a robust framework for professional development, fostering a culture of excellence based on core principles of knowledge, skills, and integrity. A key outcome of this collaboration is the development of a formal certification program. This partnership underscores a significant step towards strengthening the expertise and ethical standards within the Zambian capital markets.
Note: This is a simplified summary. Refer to the full MoU for detailed clauses.
The Securities and Exchange Commission (SEC) of Zambia has entered into a Cooperation Agreement with Financial Sector Deepening Africa (FSD Africa) and Financial Sector Deepening Zambia (FSD Zambia). This Cooperation Agreement formalizes a partnership between the Securities and Exchange Commission of Zambia (SEC), Financial Sector Deepening Africa (FSD Africa), and Zambian Financial Sector Deepening (FSD Zambia). The primary objective is to create a general framework for collaboration and cooperation on specific projects aimed at developing Zambia’s capital markets.
The strategic alliance is a step towards strengthening Zambia’s capital markets and advancing long-term financial sector development specifically designed to significantly strengthen Zambia’s capital markets, with a sharp focus on bolstering institutional capacity, crafting a long-term strategic development plan, and providing robust regulatory support. By leveraging the combined expertise and resources of SEC Zambia, FSD Africa, and FSD Zambia, this collaboration aims to deepen the capital markets, increase investor confidence, and unlock sustainable economic growth for the country.
Note: This is a simplified summary. Refer to the full Agreement for detailed clauses.
