Investigating the impact of kwacha depreciation (Against the us dollar) on Zambian businesses, employment and income
Ezra Malemuna, Marvin Kabubi
The basic aim of this research is to investigate the impact of kwacha depreciation (against the US dollar) on Zambian businesses, employment, and income. The research was based on primary data, and this research was conducted on different individuals within territory of Copperbelt region, Ndola, Zambia. Data were collected through questionnaire consisting of several questions; the sample consisted of 100 employees of different respondents. The Correlation analysis test was applied through Excel to find out the results of research. Results indicate on how the Kwacha depreciation has affected the businesses, employment, and income in a negative way. So the findings of research proved that as long as we depend on the success of other countries, the economy of Zambia shall forever be a fragile economy. The Zambian economy shall forever be unstable. Zambia’s economy shall continue to depend on the success of big economies such as China as long as it does not develop its local industry. This was done to investigate the different relationships between and the impact of the variables on each other. Based on the results of this research it has been recommended that Zambia can only succeed with its own grown economy. As it is often said, you can only succeed with your own hands and not borrowed hands. Zambia has been reporting the significant economy growth, but this growth has not benefited or cannot be seen by a common man on the street. So there is need for Zambia to come up with a major policy shift that would see many local industries supported.