The Zambia Chamber of Commerce and Industry (ZACCI) says the business confidence for Zambia has remained low for the second quarter of 2019 despite recording an increase by 27.7 points to 51.3 points in the Business Confidence Index (BCI).
ZACCI president Chabuka Kawesha says the low confidence signifies negative sentiments about the business climate in the country during the second quarter of the year.
Mr. Kawesha has attributed the negative sentiments to depreciation of the Zambia Kwacha, reduced demand which resulted in low sales, delayed government salaries, poor liquidity and increased competition from foreign goods among others.
He has therefore recommended that there should be promotion of soft to large manufacturing as a way of encouraging industrialization, for government to quickly address uncertainties surrounding the general sales tax.
The ZACCI President has also recommended that there must be promotion of a clear and progressive regulatory framework in the energy sector and for a quick solution to be established regarding the matter involving the Konkola Copper Mines (KCM) among others.
The Business Confidence Index is a too that measures the level of confidence of business executives in the business environment and predicts short term business trends.