Opposition United Party for National Development (UPND) President Hakainde Hichilema says he has been vindicated when he projected that the Kwacha will depreciate badly in the near future.
Speaking when he received some defectors at the UPND Secretariat today, Mr. Hichilema says when he predicted that there will be a free fall of kwacha, people thought he was merely trying to win the people’s confidence and ruin the ruling PF government.
Mr. Hichilema says there is no doubt that people have lost confidence in Zambia’s economy owing to the fact that the Kwacha has continued to depreciate.
He states that the $178 million the Bank of Zambia injected into the market was a drop in the ocean because it simply cushioned the currency for a few days.
Meanwhile about one hundred and ten Patriotic Front members in Lusaka have defected to the UPND