KWACHA, REBOUNDING AFTER CURRENT HARVEST – CHILOMBE
MAZABUKA Resident, Bost Chilombe, has expressed hope that the harvest season in the current agriculture period will help appreciate the value of the Kwacha which has seen continued depreciation against other currencies in recent times.
Chilombe, a Farmer based in Chivuna, says a good harvest will mean that the Country can have enough food to export, hence earning a health foreign exchange.
He has, however, expressed concern with the rise in the cost of living which has seen staple products like mealie meal skyrocket in prices, nevertheless expressing confidence that the prevailing can be offset with a good harvest.
Another Mazabuka Resident, Christopher Chirwa, says he has no hope that the Kwacha will appreciate against other currencies any time soon.
Chirwa further notes the rise in prices of essential commodities, making it more difficult for households to fashion a decent lifestyle.
Linda Kabicci, also a Mazabuka Resident, says she has been finding it difficult to purchase a 25-kilogram bag of floor for her Scone Business owing to the rise in prices.
Meanwhile, Economist, Shabdin Mweemba, has attributed the continued depreciation of the Kwacha to less exports of minerals, with some Mines not being fully operational in the Country.
Mweemba is confident that once issues surrounding some Mines are fully resolved, the sector will be vibrant, hence appreciation of the local currency.
Various banks in the Country are buying and selling the kwacha above K27 as at 23rd January, 2024.
[ Byta FM Zambia]