Delayed Export Tracking Costs Zambia $50 Million Daily!!
The Private Sector Development Association-PSDA Chairperson Yusuf Dodia says Zambia’s failure to implement the export revenues trucking framework has potentially led to the country losing around $50 million in daily export earnings that could have been used to strengthen the kwacha.
Mr. Dodia claims that following the 90-day window period between January and March 2024, the country should have begun to see massive inflows of foreign money of up to $50 million in export revenues.
He has expressed disappointment that the government and the Bank of Zambia, have made no statement or policy guidance on the progress made with the export proceeds trucking mechanism, which is critical to managing the exchange rate.
The PSDA Chairperson fears that this will work against the nation in the future, emphasizing the importance of implementing the system quickly to reduce the value of the dollar to about K15 within three to six months.
Mr. Dodia has also advised that Zambia considers reintroducing energy subsidies to make electricity and fuel more affordable, to lower the cost of doing business and living.
