Business

Listing of Kwacha on JSE to boost trade

KALONDE NYATI, Lusaka
INVESTMENT analyst Cuthbert Malindi says the listing of the Kwacha on Johannesburge Stock Exchange (JSE) is expected to boost trade between Zambia and South Africa as it will provide an avenue for businesses to hedge currency exposure.
Commenting on the recent listing of the Kwacha, South African rand, Kenyan shilling and Nigerian naira on the JSE, Mr Malindi said the development is expected to attract large South African corporates operating in Zambia to invest more in the country.
“It is hoped that they [investors] will then increase their investment in the country as a result and so create more jobs and social cohesion,” he said.
This month, JSE launched a new range of African currency futures to help investors, importers and exporters to protect themselves against currency fluctuations in foreign countries.
He said the listing of the South African rand/Kwacha currency future contract will raise the profile and visibility of the Kwacha resulting to more investor interest and confidence in the country.






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