• Invest much in manufacturing so as to export.
• The major way to strengthen the currency is through exports.
• Government should implement policies in the mining sector to enable the country receive dollars from Copper sales.
An Economist has urged government to ensure that the country starts manufacturing more in order to promote exports.
Speaking in an interview with Money FM News, Shabdin Mweemba noted that exporting more is the only sure way to strengthen the Kwacha which has been losing value against major convertibles.
Mr. Mweemba said although the country is currently exporting copper, Zambians are not benefiting even when the commodity is fetching at a very good price.
He advised government to consider introducing paying taxes in dollars in the mining sector to help stabilize the currency.
“We need to invest much in manufacturing so that we are able to export. The major way we can strengthen the currency is through exports. I know we are already exporting Copper but despite the good price that it’s fetching, we are not benefiting as a country because most of the money remains out there.”
“I think it’s also important that government can put in policies in the mining sector to ensure that at least we receive dollars from Copper sales because currently we are not receiving anything. They can introduce maybe paying taxes in dollars so that it can help cushion the current economic challenges,” Mr. Mweemba said.