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 discuss local affairs in English. In 1948 the Federation changed its name to the Northern Rhodesia Congress and Godwin Mbikusita Lewanika, who had an aristocratic Barotse background, became its first president. In the late 1940s several local trade unions representing African miners merged to form the Northern Rhodesian African Mineworkers' Union. Under Mbikusita Lewanika, Congress gradually developed as a political force. It had some radical policies, but Mbikusita Lewanika favoured gradualism and dialogue with the settler minority. In 1950 and 1951 he failed to deliver a strong anti-Federation message and in 1951 Mbikusita Lewanika was voted out of office and