Manufacturing firms to close due to bleeding kwacha – ZAM

The Zambia Association of Manufacturers (ZAM) has observed that a number of manufacturing companies, which depend on imported materials for their production risk closure if the performance of the kwacha is not controlled.
Association Chief Executive Officer Maybin Nsupila says the sector has adversely been affected as planning for imports has become difficult.
Mr. Nsupila also predicts a sharp rise in both inflation and commodity prices as manufacturers will have no option but to slap the cost on consumers.
The Kwacha is currently trading at about K6.40 against One United States Dollar while the One UK Pound is selling at K10. 70. One Euro is fetching K8.80.

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