THE Bank of Zambia has announced that by the end of 2025 it will issue new regulations to reinforce the use of the Kwacha in domestic transactions. Businesses will still be allowed to quote prices in foreign currency, but all settlements must be made in Kwacha, with limited exemptions such as in the tourism sector or international obligations. Governor Dr Denny Kalyalya was quick to clarify that this is not a return to the suffocating days of exchange controls. The objective is simply to ensure that the Kwacha retains its rightful place as Zambia’s sole legal tender. On principle, this is commendable, and we can say that a country that abandons its own currency abandons its sovereignty. If government raises...