Africa-Press – Zambia. HE Zambian Kwacha has continued its strong performance, gaining over three percent against the U.S. dollar on Thursday its biggest daily rise in months.
Economic expert Kelvin Chisanga, speaking in a statement availed to Roanfm says the currency’s rally reflects renewed investor confidence in Zambia’s economy, largely driven by higher copper prices and expanding production.
Global copper prices have surged above $10,800 per tonne, following supply disruptions in the DRC and Chile, while Zambia is on track to produce over one million tonnes of copper this year a level not seen in nearly a century.
Mr. Chisanga adds that major investments by Barrick Gold and First Quantum Minerals are boosting the sector, and the Kwacha’s strength shows Zambia’s improving external balance and economic reforms.
He, however, cautions that sustaining this momentum will require diversification beyond mining and consistent fiscal disciplines.
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