Do you know that, since the start of the year, Zambia's currency, the Zambian Kwacha, has gained nearly 12% against the dollar, making it the best-performing currency in the world?!
This development is an effect of tighter government rules on foreign exchange, pushing home grown businesses to use the kwacha for local payments and convert more dollars into local cash, according to reports made public by Bloomberg.
The strengthening of the kwacha has had direct economic effects. A firmer currency has reduced the cost of imported goods, easing imported inflation and helping stabilise consumer prices.
This has provided relief to households and businesses that rely on imported inputs, fuel, and consumer goods.
Also, thanks in large part to the profitability of copper, Zambia now boasts one of the best-performing stock markets in the world.
While domestic energy supply has improved and farm output has recovered following a severe drought a couple of years back, prices for its primary export, copper, have risen to consecutive record highs of $13,000 per ton.
As per the International Monetary Fund, this should increase economic growth to 6.4% this year from an expected 5.8% in 2025.