NDOLA UPND TOAST KWACHA COMEBACK
By Nonhlanhla Phuti
The UPND in Ndola on the Copperbelt has attributed the recent kwacha appreciation against major convertible currencies to the significant investment made by Vedanta Resources in Konkola Copper Mines -KCM-.
The Kwacha has sharply appreciated against the us dollar and is currently hovering around K24.
UPND Ndola District Spokesperson David Zimba notes that while the ruling party acknowledges the challenges being faced in the country, citizens should recognize that managing the economy is a complex task that requires systematic and thoughtful planning.
Mr. Zimba says several stakeholders including opposition political party leaders have raised concerns over the depreciation of the kwacha without consideration that the closure of some mines in the previous regime has had a long-term impact on the performance of the kwacha, as mines in Zambia are a significant source of foreign exchange.
He adds that the recent apprecation is as a result of well-calculated moves by government in effectively managing the mines coupled with other policies being implemented which will see the local currency appreciate further.
PHOENIX NEWS