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Kwacha On An Upward Swing
By KALONDE NYATI
THE Kwacha is slowly gaining ground after the market witnessed United States dollar (US$) inflows on the market, financial analysts have said.
Standard Chartered Bank said the local unit is expected to hold between K5,270 and K5,370 yesterday (Monday) due to the US$ inflows which are trickling in the market.
According to the bank’s daily brief, local exporters off-loaded large tranches causing sharp retracement to K5,300 against the US$ on Friday.
“Finally, the long-awaited dollar inflows have started to trickle through the market.
“Local exporters offloaded large tranches causing sharp retracement to K5, 300. Despite global markets still being risk off, domestic flows seem to have taken the day,” the bank states.
Last week, the market saw the Kwacha remain under pressure against the US dollar inflows due to most exporters receiving Kwacha Value Added Tax (VAT) refunds and on the back of a broadly strong dollar as investors took refuge in the US dollar as fears about a possible contagion (effects) from the Euro zone liquidity problems.
Posted by
Barca 10
June 5, 2012 at 8:47 am
Ndalama za new zibwera liti??????
Umusambashi
June 5, 2012 at 8:56 am
That ws standard chartered bank’s report, what is central bank saying for tht report to be validated? What are the man factors contributing to investors,business men and women holding on to th dollar…this our govt shld look into seriously apart frm fighting corruption,we r happy bt it shldnt forgo th mst important oil of any nation…money, havng it in good circulation at reasonable rates against othr influencing rates…5230 or whatever is too high…r pipo nt exporting,selling and buyng anymore???? I can smell a serious downward curve of economy th world over and much as I ve askd govt to look into it…my gut tells me its beyound its means…pipo,lets just plan fr a longer period on a hsehld level to be self sustaind…..ifintu not good at all
Wanyafye Tigers 1 vs One million Jobs 0
June 5, 2012 at 9:26 am
1. Let each exporter declare his/her earnings at BoZ.
2. Host international games/events in Zed so that foreigners demand kwacha
3. Process your copper and cashew nuts before exporting
4. Do a deal with World Food Program and supply them maize, cassava etc to feed hungry people around the world
5. Sort out animal diseases in Southern, Luapula and Western provinces and restock animals and fish in these areas for export to the E.U, US etc.
6. Learn to feed your goats the same way you feed your broilers and export to Congo and the Middle East.
Then your kwacha will be strong and you will create jobs. Once again, you will not need a Nigerian Pastor to annoint your kwacha for it to strengthen. Wake Up & Live.
Spectator
June 5, 2012 at 10:58 am
@Wanyafye Tigers 1 vs One million Jobs 0, excellent analytical thinking and problem solving skills..
tutu
June 5, 2012 at 11:28 am
The runaway dollar
Sunta sunkutu
June 5, 2012 at 12:11 pm
Ba wanyafye tigers mwalandako ifya mano. These are practicle suggestions with clear and straightforward results. Twatasha ba tigers, ba nye umutende mukwai.
FTJ
June 5, 2012 at 12:14 pm
Upward or Downward ???
kakolwe
June 5, 2012 at 1:26 pm
Ba Wanyafye, mwakula yama! What you have talked about creates Over 15 jobs at my farm! Feeding goats as broilers! Am diversifying mwana! Am employing young men & women to do it. Thanks mine nangu wanyafye!
Are you the ‘uku ulelanda ifyamano, uku ulenya amasushi? BIG UP TO THE TIGERS!!
Wanyafye Tigers 1 vs One million Jobs 0
June 5, 2012 at 3:45 pm
Thanks a lot @kakolwe, Sunta and Spectator. Let’s start with what we have. Imagine if Zamefa was to do a direct deal with Toyota or Volvo to supply pure copper-wired dash boards just out of Luanshya to Japan or Sweden! How many jobs is that? Backward integration then kicks in: the Japanese will ensure that the plant is hi-tech, with neat roads and it employs good techs from Nortech etc. Fact: Shoprite has made Sobi Industries improve the way they pack tissues! We are busy exporting raw manganese from Kabwe and Mansa and only to import Duracell and other changanya cells from Thailand – are we serious?? Good day!
MUCHEMWA
June 5, 2012 at 3:58 pm
TWAAWIINA NOOMBA
ziman
June 5, 2012 at 7:10 pm
@Wanyafye Tigers 1 vs One million Jobs 0, I wonder if @ all PF Sec Gen Wynter Kabimba seriously read some of these posts, Even Prof Clive Chirwa wrote good articles on how we can do deals to add value to our copper. Bob Sichinga said the same few weeks ago, Where a the thinktanks @ Min of Finance in collaboartion with Min of Commerce Trade to spearheard this. The China man M sure can be coopted in with locals to set up small scale industries which will translate into thousands of jobs for the youth. If there is such paradigm shift, the benifits to the nation will be tremendous. We need a leader who will be preoccupied to push this great country to take a huge leap forward. Leaders like Deng Xapiao of China who tirelessly worked to put China where it is today. Any honest Chinaman will never forget Deng. Can our our own MSC take us out of this dungeon, if this can be so, he will fondly be remembered by the Zedian in years to come! Lets wait and see.
ONETIME RELOADED
June 7, 2012 at 3:24 pm
@wanyafye tigers please change your blog name
OJ
June 12, 2012 at 8:55 pm
BA WANYAFYE I THINK A MERIT IF NOT A DEGREE CAN BE GIVEN TO YOU MY BROTHER. COZ ALL WHAT YOU HAVE SPOKEN ARE THE MATTERS THE GOVERNMENT SHOULD START WORKING ON NOW.BUT HOW’ RE WE GOING TO PUT THEM ON THE SPOT-LITE SO THAT OUR GOVERNMENT SEES THEM AND IMPLEMENT THEM NOW?WE NEED PIPO LIKE YOU NOT CHI OPOSITION LEADER ICHILANDA IFYABULA AMANO BUNDAFYE BWAKUPIMA ING’OMBE CHIKAYETEKA ING’OMBE
CHIKUMBI
June 13, 2012 at 11:59 am
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PHYLOSOPHER
June 20, 2012 at 3:47 pm
wanyafye, briliant are yo ideas pleas continue. i Have been in poultry business for sometime now , please tell me something on how i can feed goats the way i feed my broiler chickens cause have been thinking about geting into piggery or goat keeping. broilers are hybride products and they are engineered to grow within a short period of six months. Tell me something of what will happen to the rate of growth of goats or pigs that are not genetically engineered or manipulated .
PHYLOSOPHER
June 20, 2012 at 4:19 pm
The value of our currency is determined by how much we produce, sell and retain.We produce and sell more copper now and then, but we retain less because much of the profits do not come into Zambia and the copper business is controlled by external market forces ,meaning, no matter the tonnage of copper we produce and sell Zambia will never change. The solution to the problem is simple (1) invest in local enterprises (2) reduce taxes on businesses run by indigenous Zambians (3)Reduce cost of borrowing (4) Facilitate marketing and distribution channels (5) Facilitate access to finance and information (6) Let us invest in agriculture which is best for a depressed economy like Zambia. As we do this let us also invest in education for this will bring more intellectualism to solve problems in agriculture , pharmaceutical, biotechnology and engineering. Subsequently, we shall have more money flowing into Zambia and our Kwacha will compete favorably with greater currencies and this will bring economic development .