Instability in local currency affects the cost of doing business- Dodia

Instability in local currency affects the cost of doing business- Dodia

Zambian Kwacha on free fall

Private Sector Development Association (PSDA) Chairperson, Yusuf Dodia, has charged that the instability in the local currency will negatively affect the cost of doing business in the country.

Mr Dodia, who is also an Economist said many local producers will find it difficult and expensive to conduct their businesses hence the need for government to quickly address the matter.

He further disclosed that the instability in the country’s economy has mainly been caused by the political anxiety.

Mr Dodia has since advised government to quickly set the political anxiety for the country’s economic progression.

The local currency has depreciated by over 10 percent  since PF came to power against major convertible currencies the lowest in more than two years trading at K5,400 to one US dollar.

But government is still optimistic that the instability will soon be addressed so as not to affect the country’s economic performance.

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