Economy

Intensify Awareness of Kwacha Rebasing, Urges Dodia

Private sector Yusuf Dodia has urged the Bank of Zambia to intensify the awareness on the Kwacha rebasing.

Dodia noted the awareness exercise was not enough to adequately inform Zambians on the new currency that is replacing the only starting 1st January 2013.

“The challenge is for the public to understand the change in denominations. There will be some that might want to take advantage because of changes in the currency and we will obviously have legal cases arising from unfair transactions based on the new and old currency,” he said.

Dodia also noted it would be regrettable If people can start emptying their bank accounts and investing in saleable goods due to the uncertainty that the rebasing might cause.

The Bank of Zambia is currently working on rebasing the currency by knocking out three zeros from the currency denominations. They have been conducting awareness exercise but it appears people are far from getting the message.

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