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 districts. The British South Africa Company was responsible for building the Rhodesian railway system in the period of primary construction which ended in 1911, when the main line through Northern Rhodesia crossed the Congo border to reach the Katanga copper mines. Rhodes' original intention was for a railway extending across the Zambezi to Lake Tanganyika, but when little gold was found in Mashonaland, he accepted that the scheme to reach Lake Tanganyika had no economic justification. Railways built by private companies needed traffic that can pay high freight rates, such as large quantities of minerals. A line from Kimberley reached