Bank of Zambia in the 1938 formation of the Southern Rhodesia Currency Board, which was based in Harare, in present-day Zimbabwe. The Board's jurisdiction included Northern Rhodesia, now called Zambia and Nyasaland, known as Malawi today. In 1954 the Southern Rhodesia Currency Board was renamed the Currency Board of Rhodesia and Nyasaland, and as the winds of change were strong in Africa at the time, the currency board was transformed into the Bank of Rhodesia and Nyasaland in 1956. In 1964 the Bank of Zambia was created from the Bank of Northern Rhodesia, which itself had only formed a year earlier in 1963
Northern Rhodesia the authorities considered seditious. They were not generally politically active, but the Watchtower movement was supposedly involved in the 1935 Copperbelt riots, probably incorrectly. Secondly, Africans educated by missions or abroad sought social, economic and political advancement through voluntary associations, often called "Welfare Associations". Their protests were muted until the early 1930s, and concentrated on improving African education and agriculture, with political representation a distant aspiration. However, several of the Welfare Associations on the Copperbelt were involved in the 1935 disturbances. Hut tax was gradually introduced to different areas of Northern Rhodesia between 1901 and 1913. Its introduction generally caused