OMCAZ backs BoZ on reinforcing Kwacha as sole legal tender
Published On July 8, 2024 » 384 Views» By Times Reporter » Business, Stories
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. Mubanga

By ANDREW MULENGA –
THE Oil Marketing Companies Association of Zambia (OMCAZ) has welcomed the Bank of Zambia’s (BoZ) draft Currency Regulations of 2024 to reinforce the Kwacha’s role as the sole legal tender in domestic transactions in Zambia.
The OMCAZ says the implementation of regulations will help to strengthen the local currency.
Association president Kafula Mubanga said in an interview that once the central bank puts a stop to the use of foreign currency for transactions conducted within the country the Kwacha would begin to stabilise and appreciate.

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