Weak Kwacha continues to raise concern

Bank of Zambia kwacha
Bank of Zambia kwacha

Lusaka based Financial Analyst, Maambo Haamaundu, has expressed concern over the continued weakening of the kwacha against major international currencies.

Mr Haamaundu has told Qfm news in an interview that a weak local currency will affect the country’s economic growth which is import oriented.

He says there is need for urgent measures to be put in place to stop the Kwacha’s continued loss of value against major currencies.

Mr. Haamaundu says there is need to massively invest in industrialization as a way of ensuring the Kwacha gains strength.

He has since advised government to put measures in place to ensure that the Kwacha does not continue to lose strength.