Kwacha is to remain weak within short term- Hamaundu

Financial Analyst Mambo Hamaundu has projected that the kwacha is expected to remain relatively weak within the short term.

Mr. Hamaundu says though the local currency has gained some ground from March 2015 into April 2015, issues of sustainability still remain a challenge.

He notes that the kwacha has in the recent past been volatile; stating that what is needed is for the local currency to stabilize.

Mr Hamaundu however, states that the kwacha will appreciate a bit against the South African Rand owing to the fact that demand for the South African currency has gone down due to the xenophobic attacks in that country.

Mr. Hamaundu says the Kwacha needs not only to appreciate against the Rand but many other major global currencies.

He says it is important that challenges leading to the depreciation of the kwacha are urgently addressed.

Mr. Hamaundu further predicted that soon as the issues affecting the mines are addressed, the kwacha is expected to gain.