Some PF officials in the streets, markets, and bus stops are cheating vulnerable women and call-boys that they will have the promised ‘more money in their pockets’ once the kwacha is re-based.
Some street vendors and call-boys have told the Watchdog that ruling party officials, especially Constituency and District party officials have been telling them to be patient as government was still printing their money.
“Ifwe balitweba ati indalama shesu bakaitupela nganti bachinja makwacha yaba MMD” (We are told our promised money will come when they change MMD money) a call-boy told the Watchdog.
The PF government through the Bank of Zambia is in the process of rebasing the local currency by removing some zeros in a move that won’t count for anything in value terms with other currencies.
With their Donchi Kubeba slogan, the PF in opposition promised people with ‘money in their pockets’ within 90 days once voted into power.
The Zambian Kwacha has been on free fall against major currencies since the PF came into power.
The latest Zanaco Daily news update predicts that the Kwacha will this week further depreciate to K5,400 as the domestic foreign exchange market continues to demand for more United States Dollars.
The PF government has also significantly reduced the foreign reserves at the Bank of Zambia that were left by the MMD administration.