Zambia has had one currency since 1964, changing currencies is sign of failure, Zambian politician mocks Mnangagwa

Vocal Zambian politician Joseph Kalimbwe has mocked President Emmerson Dambudzo Mnangagwa’s administration for allegedly mismanaging the country’s economy.

At the time Zimbabwe is bracing for a new currency, expected this Friday, Kalimbwe says changing currency is a sign of failure.

“Changing a currency is not an economic solution, it’s a sign of economic failure.

“Zambia has had one currency since 1964 & we shall keep it as such. As a people, we admit our political mistakes, fix & correct them than lying that we have the strongest currency in the region,” he says.

For some time, Zimbabwe’s local currency Zimdollar has been on a power losing streak.

The government responded by introduction of a number of measures including the multi-currency system, whose lifespan was extended by a further 5 years from 2023 to 2030.

This development was welcomed by market watchers, however they said this should be complemented by other subsidiary policies to give direction to the market.

Zwnews