The ruling United Party for National Development( UPND ) leadership in Muchinga Province says the continued appreciation of the Zambian Kwacha gives hope of many good things coming ahead.
In an interview today, Provincial Coordinator, Frederick Chimeya says the continued appreciation of the Zambian Kwacha is a boost to the economic recovery of the country.
Mr. Chimeya says it is fundamentally important for the Zambian Kwacha to appreciate against the other convertible currencies adding that this is needed for the resuscitation of the country’s economy.
“As new dawn administration, we are on course to resuscitate our economy and the appreciation of the Zambian Kwacha recorded in recent months as because of the measures put in place to ensure the economy of the country improves, ” said Mr. Chimeya.
He says the appreciation of the Zambian Kwacha is allowing many people to trade locally and internationally.
The UPND provincial coordinator says the performance of the currency shows investor’s confidence in the new dawn administration towards resuscitating the economy.
Meanwhile, at Nakonde border the appreciation of the Zambian Kwacha has boosted trade.
A check by ZANIS revealed that the number of cross border traders from Zambia has increased in the past days to buy goods and other merchandise from the border town of Tunduma in Tanzania.
Provincial Coordinator for the Zambia Micro and Small Traders Cooperative, Josephat Chitimbwa says the demand for maize and Soya beans has further strengthened the performance of the Zambian Kwacha at the Nakonde border.
Mr. Chitimbwa has told ZANIS that the demand for maize grain and Soya beans by the foreign countries calls for the need to invest more in agriculture in order to boos our economy.
“Agriculture is now the main stay of our economy and we need to invest more in agriculture in order to increase production and earn more foreign exchange through exports,” said Mr. Chitimbwa.
Mr. Chitimbwa says Zambians at Nakonde are benefiting from the increased demand for both maize and Soya beans which is being exported to Kenya and Tanzania.
The demand for maize and Soya beans has seen an increase of Tanzanian and Kenyan nationals at Nakonde who are working in partnerships with Zambia citizens in exporting maize and Soya beans to Kenya and Tanzania.
Mr. Chimeya says the demand for Kwacha by the foreigners buying maize and Soya beans has further strengthened the performance of the Zambian Kwacha at the border giving it more buying power.
“We have seen an influx of people from Kenya and Tanzania coming to trade with us especially in maize grain and soya beans which is of mutual benefit to our cross border traders of Zambia as the buying power of the Zambian Kwacha has been strengthened, ” said Mr. Chitimbwa.
The Zambian Kwacha has gained value in recent months and is now more robust than the South African Rand and other currencies in the Southern region.
The Zambian Kwacha has continued to demonstrate its overall stability for a couple of months now.