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The Zambian Kwacha ended October on a softer note, extending losses for a third consecutive session on Friday.
According to Bloomberg data, cited in the Access Bank Group Market Watch commentary, the local unit depreciated by 0.54 percent to close below the K22.4000 per U.S. dollar mark.
Despite the late-week weakness, the Kwacha still recorded its strongest monthly performance since June, appreciating by more than seven percent in October.
“The currency ranked among Africa’s top performers against the greenback last month, buoyed by an improved fiscal outlook and firm copper prices — Zambia’s chief export, accounting for over 70 percent of total shipments,” the report stated.
As November trading begins, market focus has shifted to a series of second-tier economic indicators, including vehicle sales data and the Standard Bank Whole Economy PMI, both considered key measures of consumer demand and business sentiment.
Vehicle sales are often seen as a proxy for household spending and sensitivity to interest rate movements, while the PMI will offer insight into the durability of improving sentiment following South Africa’s removal from the FATF greylist.
Early market activity this week suggests a more cautious tone.
“After October’s strong rally, regional financial markets appear to be entering a period of consolidation as investors await fresh catalysts,” noted the Access Bank Group.
Meanwhile, in the base metals sector, copper trade flows have been disrupted by the temporary closure of Tanzania’s Port of Dar es Salaam amid election-related unrest.
The port — which typically handles about two-thirds of Africa’s copper exports to China — has halted operations, stranding shipments and forcing exporters from Zambia and the Democratic Republic of Congo to reroute cargo through Durban, Walvis Bay, and Beira.
The rerouting has caused congestion across southern Africa’s logistics network, sparking concerns over potential supply chain delays.
Logistics firm C. Steinweg Group confirmed its facilities at Dar es Salaam would remain closed until at least Friday.
Market participants remain hopeful the disruption will be short-lived to prevent further strain on export timelines and freight costs.
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