A local Economist has observed that the unbalanced trade between Zambia and South Africa is made significant by Zambia’s weak manufacturing base.
Mambo Hamaundu says most people resort to importing because of non-availability of some goods within the country.
He has therefore noted the need for more investment to be made towards production sectors to increase the local supply of goods and increase the confidence of buyers in local products.
Mr. Hamaundu was speaking in an exclusive interview with Money Fm News in Lusaka.
In a related development, the Bank of Zambia has noted the need for more local producers to start producing for local consumption and export in order for the country’s manufacturing base to be strengthened.
Bank Governor Dr. Denny Kalyalya tells Money FM News that there is also need for Zambians to improve their perspective of locally made goods to improve the sector.
This follows reports that Zambia imports more from South Africa than the later imports from the former which has been seen as one of the reasons the country’s trade and currency have not been performing well.