08 OCT - 22 OCT

PAGE 11

Zambia heavily relies on importation of Fuel as it is not an oil producing country. Crude oil on the global markets is priced in dollars. Hence an adverse performance of the Kwacha makes it expensive to purchase imports denominated in a foreign currency.

The issue of volatility in crude oil and hence fuel prices is not just a matter of concern to Zambia but to many other Nations, companies and industries that are heavily reliant on usage of fuel.