Kapito describes Kwacha devaluation as last nail on to a coffin
Consumers Association of Malawi (CAMA) has described the devaluation of the Malawi Kwacha as the last nail on to a coffin that Malawians should bless themselves for tougher times claiming that this devaluation has never happened before in the history of Malawi.
The CAMA has observed that many Malawians have been speaking against high cost of living as going beyond the reach of the poor in Malawi saying with the Kwacha devaluation from K1,180.29 to K1,700 to the US Dollar with effective from midnight of 9th November, 2023 no Malawian will speak of the high cost of living.
The organization has claimed that Malawi has reached at this stage because the country’s duty bearers do not want to listen to the voices of reason saying had it been they listened, the country could not reach where it has reached today.
Speaking on one of the local radio stations, CAMA’s Executive Director John Kapito, has blamed the duty bears including President Dr. Lazarus McCarthy Chakwera for knowing nothing in the country’s economy saying what they know is bringing to the people untold sufferings.
Kapito said Malawians have been expecting to see change in their country in terms of the economy observing that the change which they will be seeing in their daily life situations is mourning the dead as fuel will go up to K2,400 per Litre, soap, and many other basic needs to go up too.
He said Malawians from 10th November, 2023 will be having no money in their pockets as all the money they have will be left in shops claiming that Malawi is importing almost everything than exporting, this is a contributing factor of no forex in the country.
The consumer activist has alleged that President Chakwera has travelled with over 100 people to Saudi Arabia claiming that all have taken money which after two weeks they will take it to a black market selling it at K2,500 per one US Dollar.
He said it is very strange to note that the situation the country is sailing through of having no fuel starts immediately when the President has gone out of the country claiming that President Chakwera was aware of the Kwacha devaluation as the announcement was put on hold waiting after his departure.
“What this government know best is eating the money through collection of unreasonable taxes from the country’s citizens,” said Kapito.
He has since advised government to swallow its pride that this is the time to sit down with all Malawians to discuss on the products for export as this will bring in the much-needed foreign exchange to reverse the trend but without this to happen, Malawi has reached at the point of death
