The appreciation of the Zambian Kwacha has boosted cross border trade at Nakonde border in Northern Province.
A snap survey carried out by the Zambia News and Information Services (ZANIS)in Nakonde today revealed that the slight appreciation of the Kwacha against some major foreign currencies in the past week has boosted cross border trade.
Some goods across the border at Tunduma in Tanzania have been reduced by between five to eight per cent.
Prices of clothes have been reduced by between K10,000 and K15,000 while the cost of strong iron sheets has been reduced by K8,000 from K48,000 to K40,000 and less than K40,000 in some shops.
The cost of Tanzanian cement has also reduced from K49,000 to K40,000 per pocket.
However, the sale of food stuffs in both Zambia and Tanzania have remained constant with the cost of rice, stable food in Tanzania, still being sold at K70,000 per 18 kilogram bag.
Maize grain in Nakonde is costing K23, 000 per 20 litre tin.
The price of irish potatoes has also remained the same at K17, 000 per 20 litre tin.
Cross border traders talked to said most of the goods across the border are likely to go further down as the Zambian kwacha was expected to gain more in the coming months.
A Zambian cross border trader, Chrisptopher Simukonda, said the nation’s economy is growing steadily and going at the rate at which things stand now in the country, the Kwacha is likely to gain more buying power against some major foreign currencies.
Mr Simukonda said had it not been for the serious floods which had affected most parts of the country coupled with the electricity loading shedding, Zambia’s economy would have registered more positive gains than the current situation.
Mr Simukonda also appealed to the government to investment more in energy generation so as to overcome the current power outage which he said would affect the growth of the nation’s economy in the long run.
That’s good news. A strong currency is prerequisite to a strong economy. I would like to see us go back to the time when the Kwacha was worth more than the paper it is printed on.
I wish Mwanawasa took over from KK, this time our countries was going to be fit for human habitation as it is becaming today, if this good govnt continues we will see you pipo abroad and those who fled to neighbouring botswana and namibia coming back.
chiluba distroyed the country by stilling i even feel nauseated to see him breaking news in papers and on TV than being behind bars, Sata is just a product of chiluba he was holding 3rd highest position in govnt but he supported chiluba during the debates of third term untill he dispointed him by appointing mwanawasa coz he is power hungry he formed his own party.
and poor zambians thinks he can deliver, HOW? , let chiluba and his products go with their theft we want new people with new ideas. It only takes a thief to support another thief, i would like to hear from Sata supporters why they think he supported chilubas 3rd term compain if he knew he was a bad guy who distroyed the countries economy? mind you sata is another mugabe or even worse.
It depresses me to see that we do not have any well coordinated plan for taking advantage of the high demand for copper let alone the strong kwacha.We need to have a plan of efficiently maximising copper production, earning as much revenue as we can during this period, reinvesting that revenue in agric and diversive manufacturing industry, reinvesting that revenue in transport and communication infrastructure.Right now the positives we’re enjoying are not of our own making.China’s thirst for copper has been the source of our strength. I repeat that we need a coordinated plan to take advantage of this situation before it goes away.
Sata’s govt will definetely form the next government whether you like it or not.Entire C/B and urban Lusaka is PF.This is a fact.
Despite the price of copper being good, 99% of Zambian roads are full of potholes.What a nation??
Look at Botswana,the Batswanas are not as educated as Zambians,but they run the country better than us,why???
Zambians are good at talking.Typical example,Simata Simata.He is just busy praying for Kalusha Bwalya’s FAZ executive to fail.
iwe ka mbeki u think sata will make new roads. u cheating yourself. if he goes to state house, of which he will never,he change the language.what did he do when he was with ftj, nothing. the current economic boom the country is going thru wil result in the improvement of vurious infrastructure. LPM is the type of a president we need and sata shuld always be in opposition. he make a good opposion leader.
Some fools are still thinking Sata can deliver us from the crisis, why didnt he do that in the past three regimes? Think people, think!!
now i have a friend sadist#8
Zambian reporters use very sloppy English that may be equated to elementary standard of english. A paragon of what I am talking about is the English used in the above news regarding the apparent strength or may I say the appreciation of the Kwaccha against some foreign currencies. Another silly way of describing weights and measures in terms that are not consistent with the particular item being described. I can refer to, for instannce, irish potatoes sold at K17, 000 per 20 litre tin and Maize grain for K23, 000 per 20 litre tin. Why can’t these reporters find out how much a 20 liter tin of a particular commodity weighs? This would make some sense to everybody that reads the news.
great news and, please, let us make sure the Kwacha does not fall terribly. A sudden fall would cause a rude shock to the economy.
As for reduction in pricing of some certain foods, this is extreme;y good news. BBC and CNN are busy reporting on an eminent food crisis around the whole world which will in turn result in high food prices.
John Mbeki, what mathematics are you using to compare Zambian roads to Botswana simply because the Kwacha has gained. You really qualify to be Sata’s mister of finance.
Thats nothing you are evening proud of saying that Tanzanian cement has dropped to K40000. Thats BS we have Chilanga Cement plc why buy cement in Tanzania this entails that things are not good. The economy is bad not until we equate 0ne kwacha to Malawian kwacha. This government suke
#13
Please do not talk about impossibilities of equating 1 Zambian Kwacha to 1 Malawian Kwacha. The inflation we incurred during Chiluba’s reign is irreversible. If you want to equate 1 Kwacha to 1 Malawian Kwacha, the only way to do it is to change currency,i.e introduce a new currency where you start all over. A strong Kwacha is not that good anywayz. As far as im concerned, if Zambia wants to industrialize, a strong Kwacha has got more bad than good. Bad in the sense that our products will be to expensive for export, good in the sense that machinery and other technology will be cheaper to import. So it depends how you look at it.
The trouble of getting old politicians in govt is that they only get their peers to work with them. Get Sata in State House and you will see the whole team back, Chitalu Sampa, Newton Zimba, etc and of course their relatives since every body will have to be replaced have to be replaced. I have a strong feeling that their is more progress with the younger generation of politicians than the old ones. Lets think in terms of Hichilema, Magande, Chirwa, Nawakwi, Mbikusita Lewanika etc. Mr Sata should be grooming someone by now if PF has to have serious chance of wining. It is not being principled to loose election and keep trying everytime. U loose once and pass it to someone else!
# Mbeki, Lusakam and CB alone can not determine the fate of a person becoming a president in Zambia. Majority of voters in zambia, like in most African countries are in the rural areas. Are the prices falling in Zambia or Tanzania? Don’t we grow our own Irish potatoes, rice, and maize? Does’t zambia make its own cement, Iron sheets and others? Why impoprt these from Tanzania? Something is wrong. Can some economists shed more light on this.