By KENNEDY MUPESENI? -
THE listing of the Kwacha on the Johannesburg Stock Exchange (JSE) will make the country visible and boost investment, the Zambia Association of Manufacturers (ZAM) has said.
The Zambian currency was among three African currencies listed on the JSE where investors, importers and exporters want to protect themselves against currency fluctuations in the three countries.
Other currencies listed alongside the Kwacha were the Kenyan shilling and the Nigerian naira.?In an interview in Lusaka, ZAM chief executive officer Maybin Nsupila indicated that the listing was good for the country as the currency would easily trade with other currencies as it was going to be visible internationally.
“The listing is a good initiative, especially that the country needs Foreign Direct Investment (FDI), the investors will easily access the currency,” Mr Nsupila said.
He also said the efforts by the Government to amend Vat Rule Number 18, should be encouraged.?‘‘Our comment on the VAT rule is that, it is good that Government has encouraged debate,it is ambiguous, some companies export on credit,’’ he said.