According to the Zambia Association of Manufacturers (ZAM) president Dev Babber, Zambia’s manufacturing sector has shown signs of recovery in the last quarter of 2009.
Babber told journalists on Monday that the sector has shown signs of improvement in the last three months of the year.
He said local manufacturers had a difficult start to 2009, arising from the global economic recession that crippled the world’s major economies.
However, with trade returning to normal in the world’s powerful economies, manufacturers in the country have also started feeling the benefits.
On the local scene, the stable currency had been the biggest factor in helping manufacturers revive their industries, he said.
At the height of the global credit crunch, Zambia’s local currency the Kwacha had almost collapsed and lost nearly half of its value as copper sales plummeted.
However, with the recovery of copper prices-the main export, the Kwacha had stabilized in recent months.
Babber said with the currency stable there was much more predictability in the manufacturing process which he said has contributed to the recovery of the currency.
Source African Press Agency
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