Private sector urged to boost output – export goods cheaply now

By KETRA KALUNGA THE private sector should take advantage of the fact that Zambian goods have become cheaper due to the devaluation of the Kwacha and increase production for supply to neighbouring countries, the Economic Association of Zambia (EAZ) has said. EAZ president, Lubinda Haabazoka said the country was poised for increased demand for local goods following the devaluation of the Kwacha hence the need for the private sector to boost their production capacity. He said the private sector has an opportunity to help rebuild the country’s economy. Dr Haabazoka said in an interview that producers of commodities such as maize, fish, sugar, and cement among others should take advantage and double production for export. “Zambian goods are cheap because of the devaluation of the Kwacha we are going to see increased demand for Zambian goods, so it’s up to the private sector to increase supply to neighbouring countries,” he said. Dr Haabazoka explained that the Kwacha devalued as a result of the low supply of goods due to the Covid-19 pandemic which led to more demand for forex in the country. He said the low supply of goods came about because many companies shut down or lowered production due to the effects of the pandemic, leading to interruption in global trade.