Zambia records improvement in business transactions

The Zambia Chamber of Commerce and Industry (ZACCI) says the country has recorded an improved business environment in the last six months. 

ZACCI President Michael Nyirenda attributed the continued improvement in business to rising copper prices on the international market as well as an increased injection of liquidity on the local market. 

Addressing a media briefing in Lusaka today, Mr Nyirenda said that ZACCI had sampled over 200 of its members from all sectors of the economy across the country and all indicated that their business trading environment had improved. 

According to the ZACCI business confidence index, business in the first quarter of 2018 suffered from the cholera outbreak, and stiff competition from imported goods. However business has substantially increased by 44.2 points rising from 124.3 points to 168.5 points due to favourable copper prices and increased liquidity injection in the economy. Mr Nyirenda praised the government for reducing the lending policy rate and statutory reserves which have stimulated business activities and growth on the economy. 

The ZACCI President, however, lamented that closure of businesses on the last Saturday of the month in line with the Keep Zambia clean, green campaign is affecting sales and revenue generation from most businesses. Mr Nyirenda added that ZACCI has since engaged government and the line ministry to explore amicable ways of addressing the matter, to satisfy both business and civic interests. He called on the authority to be consistent with policies in order to promote economic activity and secure long term foreign investments in the country. - Lusaka Times




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