An International Trade Expert Predicts An Upward Adjustment In Fuel Pump Prices
By Michael Kaluba
International Trade Expert, Trevor Simumba says Zambia’s investment environment is becoming more unattractive and is likely to worsen if urgent solutions are not developed to arrest the free fall of the kwacha and the impending debt default.
Mr. Simumba has also predicted an upward adjustment in fuel pump prices as the kwacha continues to deteriorate against major convertible currencies.
He has told Phoenix News that his assessment shows that in the last 1 year, Zambia has not recorded any significant investment in major sectors such mining among others.
Mr. Simumba has attributed this to lack of investments to economic uncertainty created mostly by the performance of the kwacha against major convertible currencies, the impact of the Covid19 disruption, recent attempts to try and nationalize some mines and the unsustainable debt situation that the country is currently going through.
He has since advised government to listen to technocrats and act proactively to manage the country’s debt and to further stabilize the Kwacha before the uncertainty of the election period exacerbates the lack of foreign direct investment next year.
PHOTO CREDIT: NEWS DIGGERS
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