TRYNESS TEMBO
Lusaka
THE Zambia Institute of Chartered Accountants (ZICA) has acknowledged that the foreign exchange rate has shown continued resilience and stability, following a 21 percent appreciation in 2025.
The local currency strengthened to K22.20 at the end of October 2025, from K27.88 in December 2024.
ZICA president Yande Mwenye said the Kwacha recorded a strong rebound between January and June 2025.
Ms Mwenye, however, said elevated demand arising from petroleum and electricity imports, as well as the conversion of maturing government securities including coupon payments by non-resident investors, slowed the rate of appreciation in the third quarter.
She noted that a key driver of this development is the mining sector, which continues to be the country’s greatest source of foreign exchange, providing US$440.5 million in the third quarter.
“Other drivers of the Kwacha’s appreciation include the Bank of Zambia (BoZ), which provided US$120 million to moderate exchange rate volatility and support the import of critical commodities,” she said.
Ms Mwenye noted that external factors include robust copper prices, sustained mining revenue, and foreign exchange inflows.
On the aerial geophysical survey, she commended Government for the progress made so far.
She, however, urged Government to be more transparent regarding the project, as it is key to achieving the target of three million metric tons of copper production by 2031..https://enews.daily-mail.co.zm/welcome/home
