GOVT ADVISED TO INTRODUCE MOBILE MONEY BONDS AS A WAY OF COLLECTING MONEY BEING HOARDED BY SOME SECTIONS OF SOCIETY
By Chileshe Mwango
Economist Kampamba Shula has advised government to introduce mobile money bonds as a way of collecting money being hoarded by some sections of society.
Some stakeholders believe the kwacha’s continued deprecation could be as a result of some people hoarding money in large quantities.
In an interview with Phoenix News, Mr. Shula says government should emulate Kenya which some years back introduced mobile money bonds to withdraw money from people.
Mr. Shula says government should consider giving better returns to people that will willingly take part in the trade saying the problem that the country faces is the lack of mobile money bonds.
He is of the view that the money collected can then be used to liquidate Zambia’s debt.