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Alba Iulia
Monday, January 24, 2022

Kwacha appreciation elates Labour movement

General News Kwacha appreciation elates Labour movement

Zambia Congress of Trade Unions (ZCTU), in Muchinga Province has expressed happiness with the continued appreciation of the Zambian Kwacha against some major foreign currencies following the election of the UPND administration.

ZANIS reports that ZCTU Muchinga Regional Coordinator,

HH
UPND Alliance leader, President Hakainde Hichilema
noted that the recent gains of the Zambian kwacha against some major foreign currencies is an indication of fixing the struggling economy.

Mr Kasanda said he is optimistic that the appreciation of the kwacha will result in reduction of prices for essential commodities hence improving the living standards of ordinary citizens.

“The gain of the Kwacha is symbol of green light and better times ahead.It has signaled the confidence and trust of market forces in the UPND government,” said Mr Kasanda.

He said that President-elect Hichilema is coming at a critical time when Zambian people want an economist as a President to lead them into economic recovery.

The Zambian Kwacha has appreciated by 7.8 percent this week to 17.92 per dollar as at Thursday morning of August 19, 2021.

Meanwhile, ZCTU has appealed to the President-elect Hichilema not to abandon the debt swap initiative that the Patriotic Front (PF) government had initiated involving the civil servants.

47 COMMENTS

  1. Twalemyeba kutilati nga Bally aingila mubuteko ninshi na economy yamba ukucinja.

    So wait until he is sworn in next week Tuesday and he will start fixing the damage brought by Kandolo (PF) government.

    HH is the soul for Zambia and just watch on the terraces.

    Zambia Forward!

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  2. Twalemyeba kutilati nga Bally aingila mubuteko ninshi na economy yamba ukucinja.

    So wait until he is sworn in next week Tuesday and he will start fixing the damage brought by Kandolo (PF) government.

    HH is the soul for Zambia and just watch on the terraces.

    Zambia Forward!!

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  3. This website has now become zambia watchdog. All stories are about this tribal election fraudster. Lusaka times have some balls to remain impartial like you were under pf. Is this a sign of how dictatorial hh is such that you need to lick his backside to continue to exist. Shameful

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  4. Today I saw one mp for chililabombwe on TV already working. I hope the members of parliament realise the fact that 100 days have already gone today before the next dissolution of parliament. Unlike the president, their term of office is 3 months less.

  5. The election rigger , this time you failed.
    You are in denial . Your government was mediocre. How can someone like you be appointed “Political adviser “. Your government was the most tribal ever, where all the senior government positions including parastatals were occupied by people from 2 regions to the total exclusion of the rest.
    Shame on you.

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  6. I was in Cairo road today, stopped at Insurance House and caught sight of a white board standing on the pavement inscribed: USD16.30. My jaw dropped, the eyes momentarily bulged, but I still managed to resist the urge to go in and ask the bureau teller. Am still waiting to find it at $10 by Tuesday after inauguration of head of government. If it survives these 4 days, then it is not a bubble.

  7. Why should kwacha appreciation be exciting for labor? It means fewer jobs because it robs incentives for investors

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  8. The power is not how low or high the FX is, but how sustainable it is to remain at a given value for 4, 6 or 12 months for proper planning, forecasting or budgeting. This explains why prices are going up while the Kwacha is gaining. Currency appreciation is as damaging as depreciation. Check inflation too.

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  9. “Zambia Congress of Trade Unions (ZCTU), in Muchinga Province” the same groups who were endorsing Lazy Lungu are now swiftly turning around without shame to praise HH…these were compromised unions …really laughable!!

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  10. flag Corruption scandals: 48 Houses Social Security Cash Luxury Presidential Jet Ambulances Fire Trucks Mukula Trees Ndola-Lusaka Rd Malawi Maizegate Fuelgate Swaziland landgate Zesco Loans Honeybee

    1st can every Jim and Jack stop commenting on issues that they don’t understand. Yes there’s a ‘sugar high’ confidence driving the appreciation of the Kwacha but there’s nothing to be celebrated as the Challenge to sustain it for a year or longer… that will depend on what he, HH does and how his govt performs.

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  11. flag Corruption scandals: 48 Houses Social Security Cash Luxury Presidential Jet Ambulances Fire Trucks Mukula Trees Ndola-Lusaka Rd Malawi Maizegate Fuelgate Swaziland landgate Zesco Loans Honeybee

    And these are useless organisations who only serve their own purposes other than their members. They exist for their leaders to get some bribes from corrupt politicians. Unions should be made accountable.

  12. @Mutu, then you wonder why Lungu lost…he appointed dunderheads in government like Kaizar Zulu & listened to discarded politicians like Alexander Chikwanda…

    When a Kachema who knows how to run things comes along,things change even before his inauguration !

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  13. Iwe Kaizar kabwalala Zulu, shut the heck up. You were in office for 6 years, you and your buddy clueless Lungu. What did u do in there, except steal? Bakabwalala imwe. Leave HH alone and start getting ready for prison time.

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  14. flag Corruption scandals: 48 Houses Social Security Cash Luxury Presidential Jet Ambulances Fire Trucks Mukula Trees Ndola-Lusaka Rd Malawi Maizegate Fuelgate Swaziland landgate Zesco Loans Honeybee

    People please stop being duped by this pretend Kaizar Zulu wannabe. This is just a lowlife troll based in the UK craving for some attention on the Internet to make his sorry life feel important.
    The real Kaizar Zulu was fired by Lungu long time ago and he doesn’t even read the garbage his fake pretender writes here.

  15. @Kaizar Zulu Just go away. You are a NASTY person. You are a disgrace to Jehovah. A TRUE christian’s action are supposed to speak for themselves. It appears you are missing a SOUL. Your home in HELL awaits you. Beware there’s such a thing as karma

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  16. Hypocritical KZ. You instructed LT previously to moderate contributions critical of Edgar China Lungu, and allow your dirty language towards the UPND regardless. Now reality has set in, and facts show PF was and is a criminal failure – and more will be revealed surely – now you turn on LT. You truly are a wasteful scumbag. Rot in hell

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  17. Will the compromised NUMAU and Mine Workers Union of Zambia (MUZ) leaders which were supporting a misfiring PF government continue, just asking

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  18. Kaizar Zulu is, was and will continue being a f00l for the entire duration of our life time. He is the one who was even misleading the incompetent President Zambians just fired

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  19. The appreciation has little to do with HH the kwacha started appreciating before election and It could have continued in that path mainly because of the high copper prices increased power supply, anticipated SDR of US1.3billion coming in on Monday to increase the reserves and increased grain for export. Despite some of the PF failures ECL and PF had kept the economy intact in very difficult circumstances otherwise it could have been worse .

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  20. Why are we behaving as if it’s the first time the kwacha has ever appreciated? I remember not far back, RB’s administration when inflation was about 6% the kwacha was strong, economy was on the up. People called that government all sorts of names and voted them out. In hindsight that time is proving to be one of the best in our history. It was the catalyst to all the projects PF has completed. MMD started all these projects and PF hijacked them. Credit should only be given for finishing them but not for the original idea. Currency appreciation is expected once there is an orderly transition of power. it’s not new.

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  21. Funny thing is when the Kwacha dropped from 22 to 19 the same people were saying PF were manuplating the rate because of elections. Now they want to give credit to someone who hasn’t even been sworn in yet. My advice to Mr Hichilema is to be very careful with such people. Don’t welcome the Greeks even if they bring you gifts so goes the saying.

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  22. #10 David same as mine. Some people don’t understand that even a strong currency can bring problems too depending on some factors.

  23. Mulongoti I had a simple explanation from my employer… don’t know whether he was just tricking me or not. He said it’s easier for him to pay me good wages when the Kwacha deprecated because he will only bring a few dollars to meet the figure that he was paying in Kwacha equivalent. Like I said I don’t the truth.

  24. Currency appreciation should result in lower prices of goods and services. Unfortunately, in the markets of the Zambian Kwacha, such economic responses barely yield benefits. Pump rate remains high, food prices high, bus fares high. Nevertheless, automobile dealers have breathe a sigh of relief!

  25. Another way of looking at it is that your inbound goods go up and your outbound reduces. So if it becomes cheaper to import mango juice from Malawi than making it locally which of these two countries benefits in terms of jobs? If you can answer that question then you will now that a strong kwacha will make the economic situation even worse so nothing to celebrate here.

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  26. FutureZed – Always contradicting yourself and thinking out loud thereby exposing your limitations on issues …its pointless elaborating anything to you.

  27. Kwacha appreciation at least commodities should start getting reduced…checked the prices yesterday…infact things are getting expensive…Cement in Livingstone now at K150, Fuel still expensive bus fares still expensive and nothing will happen for the next 5 years the cost of living will still be high..and real estate companies are crying,diasporans buying properties in Zambia are crying…induced Kwacha gains is not a good thing it causes more damage than good

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  28. The Labor Movement in Zambia in its current state is just a waste of space. By the way, anyone seen the Economics Association guy anywhere?

  29. Diasporans who send money back to their loved ones in Zambia are crying because things are still expensive but they have to send more dollars/pounds and they were shouting Forward Forward was talking to a friend of mine in Atlanta he was in the middle of buying a house in Lusaka and now the sale is on hold…soon HH will realize that to rule a country is no Joke..

  30. Bury your head in sand if you think the kwacha gains are because of Kalusa Lusa. PF has left behind good economic fundamentals in place. lets see who will destroy them. Just watch the things to unfold in the next 3 months.

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  31. Bally will fix it…Forex bureau are going out of business..those youths exchanging Forex in border towns are crying..exporters are crying..diasporans sending money back home are crying and also this will mean less Tourists coming to Zambia….it’s not even rocket science..this induced kwacha gains is causing more damage and putting people out of work

  32. I have also adjusted the number of general workers at my construction site in Livingstone. I had 6 guys working now i have to let 3 go and remain with 3 so I can keep up with this induced kwacha gains

  33. Zambians in the diaspora now you have to dig deeper in your pockets because don’t expect things to go down…this is band aid type of fixing things….

  34. The more Kwacha gains the less tourism..which means Hospitality industries/Lodges will start laying off workers due to lack of Tourists. There’s a reason why American sometimes weakens up the dollar so that more Tourists can come and spend more in the USA…but if the local currency is strong Tourists don’t travel and if they do they spend less
    Bally will end up on his backside very soon

  35. Zambians with relatives in the Diaspora and the Diaspora will soon miss Lungu and the K22 exchange rate since prices won’t go down…things will remain expensive and yet less money in the pocket…saw an interview with one owner of a bureau de change and he is complaining big time..no business and he has put 2 of his employees on hold he said he is not making any money right now from forex…Bally is fixing it real good

  36. @ Kaloki
    Economists are hiding because they know the damages being caused by this induced kwacha gains..there’s no currency in the world that gains value like this which means it also lose value guick within a short period of time and no one wants to invest in an economy like that..notice Spaka also is complaining against Bally because he knows that this is fake kwacha appreciation doing more harm than good

  37. All the UPND diasporans are now hiding now they have to drive UBER to make extra money to send back to their relatives not so fast am sure Diasporans are already missing the K22 US/kwacha rate

  38. @ Saulosi
    Am one of the diasporans complaining now I have to send more money because things will still remain expensive in Zambia

  39. The exchange rate going down like this is not good and HH will soon regret this tricks no wonder Economists are quite

  40. Things will get tough for ordinary Zambians the next five years..looks like HH needs proper economic recovery advisors or else I see more misery coming

  41. No way should Hachilema claim praise on the appreciation of the Kwacha. We are still under PF and this appreciation trend started with PF ala.
    @ K16/US$1, this is the true value the Kwacha should have been all this while. We have been swindle by these bazunguzi, trash the investor confidence talk. It is obvious there is some tuning and unfair fixing in the background not bally fixing our country.
    If at inauguration day it goes K5/US$1, then the next Government should gain praise at day one not now.

  42. Zambia needs true and genuine economic recovery not these Band Aid sugar coating..no wonder it’s hard to have a genuinely strong economy too much games and fooling around….remember it’s not the dollar that’s losing value to the Kwacha…but it’s some fake mechanism being used….that issue of investor confidence is fake because no one wants to invest in an economy where the currency is loses and gains value meaningless at free wiil…from K19 to K17 in a matter of hours…something is wrong and Zambians are realizing that the kwacha gain will do more bad than good on the, Zambian economy

  43. Let Kaizer Zulu rant leave him alone , so that , we, the supporters of Bally we can show them how democratic we are. When the time of reckoning comes it will be purely for Kaizer to account how a lab technician can own so much property, on GRZ salary?

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