Zambia c.bank sets forex controls to help kwacha

Zambia's central bank introduced limited foreign exchange controls on Tuesday to stem the decline in its currency this year, drawing swift protests from companies in the country.

Central bank governor Jacob Mwanza told a news conference he would issue a formal gazette notice asking businesses to retain 75% of their profits in Zambia and to change export earnings into kwacha before transferring any money abroad. "I will be gazetting new measures that include businesses retaining 75% of their

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.