Zambian economy is not productive – Hamaundu

Financial Analyst Mambo Hamaundu has observed that there is nothing productive happening in the Zambian economy that will strengthen the kwacha.

Mr. Hamaundu says the kwacha will continue to come under considerable pressure as long as the country continues to have a huge appetite for imports.

Mr. Hamaundu tells QFM News that the only thing the country can hope for is for the international copper prices to go up which the country has no control over.

He adds that going forward; there should be commitment from political players to diversify from depending on copper which has put the country in its current position.

Mr. Hamaundu says the kwacha is not performing in the manner that was expected which will in the long run increase the prices of commodities which will also translate into a high cost of living.

He further states that the burden will then be felt by the poor majority Zambians hence the need to quickly diversify and help cushion the weakening kwacha.