THE Zambia Association of Manufacturers (ZAM) says excessive appreciation of the Kwacha could reduce their competitiveness in the region. However, the Association admits that the current Kwacha appreciation has brought down the cost of inputs for manufacturers who are highly reliant on imported raw materials. In an interview, Tuesday, ZAM president Ashu Sagar said his association was looking forward to a stable Kwacha, stating that the current rate of K20 to K22 was favourable for both importers and exporters. “Definitely it has brought down the cost of inputs for those who are highly reliant on imports for raw materials and things. It also has brought in lower costs for those with dollar loans. For example, it’s very beneficial. So, we...