Thu, 21 Sep 2017 12:03:19 +0000 By Mailesi Banda THE depreciation of the Kwacha against the major currencies is worrying because Zambia is largely dependent on imported goods, financial analyst Maambo Hamauudu has said. Mr. Hamauudu said Zambia continued to face a challenge in the stability of the local currency due to the lack of a strong industrial base in the country. He advised that more resources needed to be put in the manufacturing industry to promote the stability of the local currency. “As a country we should be worried when the Kwacha depreciates because we depend on imported goods and the depreciation of the currency has a negative impact on the citizens since as prices of basic commodities increase,” Mr. Hamauudu said. He said it was important for Government to set measures in place to ensure that a stable currency was maintained, adding that the only way this could be done was if the […]
