Scott continues pouring scorn on South Africa, say Kwacha is better than Rand

Scott continues pouring scorn on South Africa, say Kwacha is better than Rand

The Zambian Kwacha has continued to perform much better than the South African Rand, vice-President Guy Scott told Parliament on Friday in his continued pouring of scorn on Africa’s biggest economy. A few months ago, Scott said South Africans are backward.
Addressing the Zambian Parliament  during the vice-president’s  ‘question and answer’ session,  Scott told parliament that  the Zambian Kwacha this week was buying US$1 at K5.4 while monthly inflation at the end of June stood at 7. 3, which represents a negligible and manageable 0. 3 percent rise.
The South African rand on the other hand traded at 10.15 against US$1 yesterday on the open market, which is much higher than the Zambian Kwacha is performing on the same market.

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