The Zambian Chamber of Commerce and Industry says the performance of business has worsened in the fourth quarter of 2018 compared to the third quarter of 2018.
ZACCI President Michael Nyirenda says according to the business confidence index conducted on 274 members of ZACCI across all sectors has revealed that the performance of business has worsened due high energy cost.
Mr. Nyirenda has also cited the delayed payments from government and stiff competition from foreign companies as some of the things that have contributed to bad performance of the businesses in the fourth quarter of 2018.
He says the fluctuating of the kwacha against major convertible currencies and low crop prices in the agriculture sector also had a negative impact on the businesses.
Mr. Nyirenda says the survey further revealed that only few businesses employed more staff in the fourth quarter of 2018.
He says most businesses experienced increased demand for their products in the same period.
The ZACCI Presidents further says the survey also revealed that policy inconsistence affected the performance of business adding that local tax made business uncompetitive in the region during the period of 2018.

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