ZACCI calls for consistence in national policy formulation
By Staff Reporter
ZAMBIA Chamber of Commerce and Industry (ZACCI) has called on government to be consistent in the implementation of policies in order to ensure a predictable business environment.
ZACCI president Michael Nyirenda said that government should consider timely payment to suppliers for goods and services in order to avoid shocking the businesses.
Speaking during a press briefing in Lusaka yesterday, Nyirenda revealed that the Business Confidence Index (BCI) for the first quarter of 2019 had decreased to 137.8 points from 161.4 points recorded in the last quarter of 2018.
He explained that the recorded reduction of BCI by 23.6 points which is lower than 100 points signifies negative sentiments about the business climate in the first quarter of 2019.
Nyirenda has since attributed the decrease in the depreciation of the kwacha to low sales due to reduced demand, and delayed payments by government, poor liquidity and increased competition from foreign goods.
He stated that other factors that contributed to the decrease include policy inconsistence, lost contracts to supply the mines, particularly on the Copperbelt Province and poor rainfall, especially in Southern Province.