The Alliance Against Corruption (AAC) Executive Director Noel Chisebe says the Kwacha appreciation reflects Zambia’s improving economic fundamentals, increased investor confidence, and effective economic management.
Dr Chisebe has told the media in an interview in Kabwe that the Kwacha appreciation was good for the country because it boosts the purchasing power and attracts investment while reducing inflation.
He added that the performance of the Kwacha was a testament to Zambia’s progress, and not a weakness as asserted by some sections of society.
“A strong currency encourages business growth and access to cheaper imports and stimulates entrepreneurship and job creation. This encourages savings and investments, securing Zambia’s economic future,” he said.
Dr Chisebe urged policy makers to leverage this momentum to promote economic diversification, and ensure benefits reach all Zambians.
“Our policy maker’s goal should be to convert short-term gains from improved investor confidence and strong copper receipts into long-term plans,” Dr Chisebe said.
He dismissed fears by some sections of society that the kwacha appreciation will negatively affect the local industries but instead will bolster the imports.
He further cautioned that the situation if not well managed could trigger closure of factories consequently resulting in increased dependence on imported goods
But are imports good for a country or not? People should be educated not to celebrate importing copper wire and lightbulbs and even matches from other countries, even if it’s cheaper. Stronger currency can also reflect simple manipulation of exchange rates for the benefit of those who wish to purchase foreign goods. The prevalence of lame analysis dressed as expertise is absolutely shocking, give proper analysis!
But all currencies, even Malawi Kwacha have picked up against the US dollar. The dollar is weakening due to Trump’s tariffs
You do not focus on importing finished products but machinery to set up cottage industries that would allow you manufacture these bulbs of copper wires. You import means of production my good friend. This is the time as a farmer we are importing machinery to mechanize our farms for improved productivity.