Power and Politics

PeP leader, Tembo, tasks Hichilema to speak up on free fall of Kwacha


The opposition Patriots for Economic Progress (PeP) has expressed concern over government’s silence on the continued depreciation of the Kwacha.

PEP Party president, Sean Tembo, noted that currently the local currency was now trading at K24.7 to the United States (US) Dollar.

Tembo said this in a statement issued in Lusaka on Monday

“The last time we heard anything on this matter from government was more than a month ago when the BOZ Governor said the Central Bank had run out of FOREX to support the Kwacha,” he noted

Tembo stated that the continued depreciation of the Kwacha had created a lot of uncertainties and hardships in the business environment.

He added that it had also significantly increased prices of goods and services for consumers on the local market.

Read More: MDC laments fluctuations in value of Kwacha, impact of exchange rate on Zambia’s agric sector

“Therefore, both business houses and consumers alike are looking up to their government for assurances that something is being done to address the situation,” Tembo stated.

He said government was unfortunately very quiet on the matter.

Tembo appealed to President Hakainde Hichilema and his government to show leadership and address the nation on what he was doing to resolve the continued depreciation of the Kwacha.

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