Zambian Watchdog

Kwacha – Ngwee, different money, different value

January 02
13:58 2013

pumaDear editor,

The issue of kwacha rebasement might cause more harm than good. One does not need to be a qualified economist or bank of Zambia rebasing manager or finance minister to note the happenings that have accompanied the rebasing of Zambian kwacha.

Money is simply defined as coins or bank notes that you use to buy things. One of the main purposes of kwacha rebasing is to simplify business transaction. If this is what it means to simplify business transactions then the bank of Zambia should revisit the work, because it is not well done. Look at the photo above;

Traders and chain stores operators are making more money in their pockets by rounding off their initial prices to the nearest higher number, for instance, k8155 to kr8.16  or k12893 to kr12900. People of Zambia this is the harm or poison iam talking about that has started killing the poor. It looks insignificant but at the end of the day the seller pockets millions (kr). The man at state house cannot see or taste this poison, because he does not trade.

Rebasing is a very brilliant undertaking if such crooks are flashed out of the system. At that moment, week will proudly say different money but same value. But with the current situation it is different money different value.

Happy twenty thirteen Zambia, let us work together for mother Zambia. Love you Zambia.

Concerned Citizen

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