The Zambia currency, the Kwacha has continued depreciating.
On Thursday, one US dollar was selling K8.1 and buying at K7.9
Planning has become a challenge in Zambia due to the unstability of the currency.
Zambia is an importing country so prices are determined by the value of the US currency. Should Zambia just start trading in US dollar like Zimbabwe?
There you are, Sakala, are you not seeing the problems that Lungu and yourself are Creating to poor Zambians.
Ba PF MWAFILWA UKUTEKA.
The kwacha will continue depreciating in as long as Zambia depends much on importation. The only way the kwacha can stabilize is by encouraging the business houses to produce products that other countries do not produce and perhaps export them. Yes in zambia and Africa at large we are independent but not economically independent. Just from our copper that we produce there is a possibility that the money doesn’t even come to our Zambian accounts in order to stabilize the kwacha.The government last time offloaded dollars in our local money market but still the kwacha is not appreciating . Regardless of borrowing dollars from Euro-bond still the kwacha is depreciating . Ladies and gentlemen where is the problem? May be the government must lower the interest rate so that a lot of people can borrow and may be engage themselves in business. The government must realize that is this continues then then alot of Zambians will be redundant by the organizations they represent. Lets us join our heads and find a solution. thank you
Trading using the US $, that is where Sata started drifting the country a long time ago; and unfortunately Lungu is treading the same route and very fast. Shame indeed
Ifintu nafilungula kwena.