The establishment of a Lusaka Commodities Exchange has been urged by economist and financial expert NOEL NKHOMA in order to strengthen the kwacha versus other significant convertible currencies.
The Commodities Exchange, according to Mr. NKHOMA, who also serves as the board chair of the Development Bank of Zambia, will give local companies like artisanal gold mines the chance to sell their product directly to banks in Zambia.
Then, those who are interested in purchasing Zambian gold can do so from Zambian banks.
Speaking on ZNBC TV1 UPDATE, Mr. NKHOMA noted that the action will help the Kwacha become stronger relative to other significant convertible currencies.
Francis Chipimo, the deputy governor of the Bank of Zambia, recently disclosed that the Central Bank has just injected $1.3 billion into the market to support the kwacha.