Magande explains fall of Kwacha

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Former Finance Minister Ng’andu Magande has attributed the continued depreciation of the kwacha to loss of investor confidence in Zambia’s economy.

Mr. Magande says one of the things investors look out for are the policy statements made by government officials.

He notes that the Kwacha has been depreciating at a fast pace for the last six months than never before in the history of the country.

Mr. Magande states that the depreciation of the Kwacha also calls for the need to look at the governance of the country.

He has urged the PF government to ensure that they formulate policies that will help strengthen the Kwacha against the major currencies.

 

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