Zambian currency strengthens after smooth presidential elections

The Zambian kwacha gained 1.4 percent on Wednesday, a sign of investor confidence following a tight but smooth presidential elections in the southern African economy, where copper accounts for 70 percent of export earnings.

Zambian voters on Tuesday to elected a new president after the country’s former leader died in office. The race for the presidency pits lawyer Edgar Lungu, head of the ruling Patriotic Front (PF) against wealthy entrepreneur Hakainde Hichilema, of the United Party for National Development (UPND).

The results are yet to be released.

Source: Reuters