Cross-border traders hit by Kwacha fall


THE depreciation of the Kwacha against the dollar and other major international currencies has negatively affected the cross- border trading, says Cross Border Traders Association manager Misheck Chitanda.

Mr Chitanda said the traders were finding it difficult to get their commodities due to the falling currency as they depended much on imported goods.

He said currently it was expensive to import in view of the weak Kwacha.

He said cross border trade was on the verge of collapse because the rate of the currency had risen beyond their expectations.

“These traders are getting goods from other countries, who in some instances want to make profit, so in the process things are getting difficult because of the failing currency,” he said.

The traders complained that the cost of doing business was high and had risen sharply, placing an unbearable burden on the working community.

The traders said the power outages had also contributed to the high cost of living and stopping them from hiking goods and services was impossible.

He said the majority of people in the trading sector were women who were either single or widowed, and were taking care of orphans and vulnerable children.

Categorized | Business

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