Dr. Rajan Lekhraj Mahtani via his company Finance Bank Zambia established the Steven Malama award in the year 2012. Dr. Rajan Mahtani is known for his many contributions to the Zambian society, economy and its people. The institution of this award is one of them. The award was created in honour of late Steven Malama, a distinct legal professional in Zambia, a visionary and role model for many. Since its establishment and inauguration in 2013, the award has been a prestigious event within legal educational fraternity of Zambia. The award is presented every year to the top graduating student from ZIALE (Zambian Institute of Advanced Legal Education). To be eligible for this award, the top performing student must also pass the bar in their first attempt.

Every year, the award is presented to the deserving student along with a plaque and a prize money worth K15,000. This prize money has provided significant financial support to the deserving students in many ways, including advanced skill training, higher education, advanced courses as well as admission to professional programs. The Steven Malama award also raises awareness of the significant contributions from Steven Malama, a visionary, bar luminary with several achievements under his belt. Along with other members of the legal fraternity, Steven Malama’s contributions were instrumental in merger of distinct legal bars in Zambia; Barristers & Solicitors Bar into one single and more established bar. The outcome was that legal professionals were able to affiliate with the merged bar and provide their services without challenges and shortcomings.

The award for the year 2018-19 was received by Emmanuel Bwalya Kaluba who penned down a heartful message to Dr. Rajan Lekhraj Mahtani, later published in the ‘readers Forum’ of Daily Mail. In this article, Emmanuel thanked Dr. Mahtani and praised for his significant contributions towards the development and awareness of legal profession in Zambia.