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
Company rule in Rhodesia of the century, Rhodes's Company held a vast, land-locked country, bisected by the Zambezi river. It officially named this land Rhodesia in 1895, and ran it until the early 1920s. The area south of the Zambezi became Southern Rhodesia, while that to the north became North-Western and North-Eastern Rhodesia, which were joined in 1911 to form Northern Rhodesia. Within Northern Rhodesia, there was a separate Kingdom called Barotseland which later became a British protectorate alongside other territories under the British sphere of influence. Each territory was administered separately, with an administrator heading each territorial legislature. In Southern Rhodesia, which attracted