The Zambia Association of Manufacturers (ZAM) has announced that commodity prices in the country are expected to begin declining within the next two weeks following the sustained appreciation of the Zambian Kwacha.
ZAM President Mohamed Umar explained that with company executives returning to work this week, consultations and negotiations are set to start, paving the way for a gradual reduction in prices. These discussions aim to ensure that the benefits of the stronger Kwacha are passed on to consumers.
Mr. Umar also revealed that ZAM will soon circulate a survey among its members to track which companies are reducing prices and which are not. The survey will also seek to understand the reasons behind decisions by companies that choose not to lower prices.
His remarks followed a call from Commerce, Trade and Industry Minister Chipoka Mulenga urging retailers and importers to transfer the advantages of the Kwacha’s continued strength directly to consumers.
The move signals a coordinated effort between manufacturers and policymakers to stabilize prices, improve affordability, and respond to currency fluctuations in Zambia’s economy.