Economy

INVESTORS HAVE CONFIDENCE IN LUNGU’S LEADERSHIP, THAT’S WHY KWACHA IS GAINING – LUMPA

Lusaka ~ Wed, 28 Jul 2021

By Brightwell Chabusha

FINANCIAL expert Charity Lumpa has attributed the recent appreciation of the kwacha against major foreign currencies to investor confidence in the leadership of President Edgar ChagwaLungu and the Patriotic Front (PF).

Speaking during a PF virtual rally held today, Ms. Lumpa, a former bank executive, said President Lungu has demonstrated unwavering commitment to ensuring economic stability even in the midst of the COVID-19 pandemic.

She said this has reinvigorated investors’ confidence to pump money in the Zambian economy, resulting in an abundant supply of the United States Dollar, and increased demand for the kwacha.

And Ms. Lumpa is certain that the kwacha will strengthen further, following an auction of Treasury Bills last week by the Zambian government.

Ms. Lumpa was also PF aspiring Parliamentary candidate for Lusaka Central constituency on the ruling party ticket.

2 Comments

  1. Razor

    Which investors? When even IMF is not willing to give a loan to Zambia. BTW the gain was short lived as the kwacha has already started depreciating as of yesterday.

  2. aaron thonga

    All this while the people of Zambia have been crying over the high price of goods,now that we are getting closer to the voting day,this is when you want to show us that government is fighting so hard,we wanted that very effort before the elections where near.
    🤷🏽‍♂️🤷🏽‍♂️🤷🏽‍♂️🤷🏽‍♂️🤷🏽‍♂️

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