To ensure that consumers tangibly benefit from the positive performance of the local currency, the Zambian Government must adopt a coordinated, multi-pronged strategy that promotes transparency, fair pricing, and market accountability. Despite recent improvements in the Kwacha’s exchange rate, many consumers have yet to see a corresponding reduction in the cost of essential goods and services.
Central to this approach is the empowerment of key institutions such as the Consumer Competition and Protection Commission (CCPC), Zambia Statistics Agency (ZamStats), and the Bank of Zambia (BoZ) and the City Councils. These bodies must collaborate with the Ministry of Commerce, Trade and Industry (MCTI) especially the department of Domestic Trade to monitor price movements of key consumer items such as mealie meal, cooking oil, bread, milk, sugar, fuel, and transport fares especially those directly influenced by international exchange rates. A real-time commodity price tracking system would enable authorities to compare price trends against currency performance, detect anomalies, and identify unjustified price stagnation or increases.
In cases where manufacturers and traders fail to adjust their prices in line with a stronger Kwacha particularly for imported goods investigations should be launched. If evidence points to price gouging, collusion, or unfair pricing and trade practices, the CCPC and local government authorities must act swiftly to impose penalties and protect consumer interests.
Furthermore, the Government can institute random market audits and price inspections, working hand-in-hand with civil society organizations (CSOs), consumer advocacy groups and media to ensure nationwide oversight. These partners can help build public awareness and report unfair pricing, enhancing transparency and accountability across supply chains.