Executive Chairman for the Mahtani Group of Companies Dr. Rajan Mahtani has said Zambia is not unique to the world economic problems and what is going on in the country economically is not of its own making.
"I believe you have to look at it in its context,you can't separate Zambia,what Zambia has gone through at the moment is not of its own making primarily,it is to do with the world economics,particularly China".
Dr Mahtani said whether Zambia is able to handle the economic crisis correctly is where the difficulty is and that failing to interpret the situation will make it difficult to handle the problem.
"What should have happened is that we should have taken the the necessary preventions rather than run after the cure,and I think that's where we have a problem.
The Zambia Kwacha has continued trading poorly against major foreign currencies such as the U.S. Dollar and the British Pound making the cost of business to be very high and this has seen a sharp increase in the prices of essential commodities such as fuel,bread and cooking oil among others.
The US dollar traded at 10.12 ZMK on Tuesday September 22, according to interbank foreign exchange market quotes. The Zambian Kwacha averaged 3.66 from 1993 until 2015, reaching an all time high of 10.12 in September of 2015 and a record low of 0.34 in October of 1993.
Dr. Rajan Mahtani-Group Executive Chairman,Mahtani Group of Companies
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