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.