high commodity prices amid appreciation of the KwachaDear Editor,THE kwacha, appreciated just after the August 12 general election. This follows the election of Hakainde Hichilema of the United Party for National Development (UPND) as the seventh republican President.The appreciation of the Kwacha can be attributed to the peaceful transition of power following the Patriotic Front’s electoral defeat in the general election. However, there was anxiety from the foreign investors and the local entrepreneurs before the polls as to what would ensue.People thought that there could be chaos after the general election. This compelled the foreign investors and the local entrepreneurs to hoard the dollars and other convertible currencies prior to the general election.Whatever economic fundamentals contributed to the appreciation of the Kwacha are greatly appreciated as it signified the trajectory of Zambia’s economic recovery whose benefit will trickle down to the ordinary Zambians through the low prices of goods and services.But unfortunately, this is not […]
high commodity prices amid appreciation of the Kwacha
