Sunday, June 4, 2023
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • Columns
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Men’s U-19 cricket team preps for world cup qualifiers

    Botswana Cricket Gears Up for Int’l Tournaments

    ‘Amos did not communicate with us on his intention to go solo’- BAA

    Doping Cases Surge in Botswana Athletics 

    BoBA readies Team for African Champs

    Debswana’s Exemplary Sponsorship Elevates Botswana Sports

    The Abilities of Coach Dose Speak for Themselves 

    The Abilities of Coach Dose Speak for Themselves 

    BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

    BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

    Tebogo’s Move to US on Hold

    De Grasse Labels Tebogo a Threat in the World of Athletics 

    Trending Tags

    • Subscribe
    No Result
    View All Result
    • Home
    • News
    • Economy
    • Columns
    • Companies & Markets
    • In Business With
    • Lifestyle
      • Motoring
    • Sports
      Men’s U-19 cricket team preps for world cup qualifiers

      Botswana Cricket Gears Up for Int’l Tournaments

      ‘Amos did not communicate with us on his intention to go solo’- BAA

      Doping Cases Surge in Botswana Athletics 

      BoBA readies Team for African Champs

      Debswana’s Exemplary Sponsorship Elevates Botswana Sports

      The Abilities of Coach Dose Speak for Themselves 

      The Abilities of Coach Dose Speak for Themselves 

      BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

      BoBA is Grateful to Debswana for Increased Sponsorship – Sec Gen

      Tebogo’s Move to US on Hold

      De Grasse Labels Tebogo a Threat in the World of Athletics 

      Trending Tags

      • Subscribe
      No Result
      View All Result
      The Business Weekly & Review
      No Result
      View All Result
      Home News

      Zambian kwacha extends gains, although movements are transitory

      . With export earnings expected to remain elevated and as the new government ramps up reforms, the economy is set to continue its recovery over the next few years.

      mm by Kitso Dickson
      February 21, 2022
      in News
      0
      Zambian kwacha extends gains, although movements are transitory
      0
      SHARES
      41
      VIEWS
      Share on FacebookShare on Twitter

      The Zambian kwacha has gained ground over the past week, leading to a monthly gain of 3.6 percent, according to RMB. The investment bank attributes the recent performance to central bank intervention in the market as it supplied dollars early last week when the market was tight on liquidity.

      Furthermore, Danial Kavishe, the economist with the bank explained that the recent bond auctions over the past two weeks have also led to improved sentiment across the market as foreigners mopped up local paper. While these factors have greatly supported the kwacha, he reiterates that the movements are transitory, with a broad expectation that the currency is likely to head back on a depreciatory trend over the next months. “In the short term, we see the gains leading to levels closer to 17.00 against the dollar. The currency is expected to weaken to levels closer to 18.50 by mid-March. Key upside risk will be based on central bank intervention, which could dampen the pace of weakness in subsequent months,” he says.


      USD/ZMW historical performance

      Source: Bloomberg, RMB Markets


      Overall, until the debt restructuring efforts are finalised, the bank expects the kwacha to remain on the back foot noting, however, that sentiment is improving in the market with respect to the sovereign. With export earnings expected to remain elevated and as the new government ramps up reforms, the economy is set to continue its recovery over the next few years. The latest upgrade by S&P global ratings on the country’s long-term sovereign rating from CCC- to CCC+ with a stable outlook, cements Kavishe’s view.

      The rating agency expects the fiscal position to improve over the medium term and further expects finalisation of debt restructuring over the near term. S&P reiterated that it expects that local currency debt will not be included during the debt restructuring efforts. The agency further believes the government has sufficient fiscal policy room to maintain its debt servicing costs on local currency debt. “We share the same sentiments, with the latest upgrade asserting our broader views on credit ratings improving over the next few years,” Kavishe says.

      Navigation

      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      Recent News

      • June 2nd Edition
      • Why The Dreaded Recession Has Been Averted Yet
      • BLLAHWU Raises Red Flags Over Planned Merger of Parastatals 
      • The downside risks to social stability
      • From mine to mistress 

      Site

      • About
      • Advertise
      • Privacy Policy
      • Cookie Policy
      • Contact
      • Subscribe
      • E-edition

      © 2021 The Business Weekly & Review. All Rights Reserved.

      No Result
      View All Result
      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      © 2021 The Business Weekly & Review. All Rights Reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?