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1 | Zambia's Currency to Get a Makeover | Hasiana Fanamboarana Ny Sandam-bola Zambiana |
2 | Zambia is set to rebase her currency by removing three zeroes from the Kwacha at the beginning of next year. | Vonona hanavao ny sandam-bolany amin'ny alalan'ny fanesorana ireo aotra telo amin'ny Kwacha i Zambia amin'ny taom-baovao. |
3 | Netizens have weighed in on the massive project for which the Bank of Zambia has even proposed 31 December, 2012 to be a holiday to allow for the smooth transition from the currency in use to the new rebased notes and coins that will also be reintroduced. | Nanan-danja teo amin'ireo mpampiasa aterineto ilay tetikasa goavana izay nanoloran'ny Bankin'i Zambia mihitsy ny andro 31 Desambra 2012 ho andro tsy fiasàna mba hamelàna ny fikisahana moramora avy amin'ny vola ampiasaina amin'izao fotoana mankany amin'ireo vola taratasy sy vola madinika navaozina, izay averina hampidirina ihany koa. |
4 | New rebased Zambian Kwacha notes coming into effect on New Year's Day. | Ireo vola Zambiana Kwacha navaozina New rebased Zambian Kwacha izay hampiharina manomboka amin'ny Taom-baovao. |
5 | Picture courtesy of the Zambian Watchdog. | Sary nalaina teo ambany famelan'ny Zambian Watchdog. |
6 | The debate has been intense on the Zambia Economist blog where a number of people are either for or against the exercise. | Nafana ny adihevitra tao anatin'ny bilaogy Zambia Economist (Mpahay toe-karena Zambiana) izay nisian'olona maro na mpomba na mpanohitra izany fampiharana izany. |
7 | One anonymous contributor on the blog wrote: | Nanoratra ny mpandray anjara tsy nitonona anarana iray: |
8 | The costs of rebasing the Kwacha on businesses are becoming more clear. | Mihamazava ny vidin'ny fanavaozana ny Kwacha amin'ny raharaham-barotra. |
9 | The benefits will always be less tangible […] Standard Chartered Bank Plc revealed early October that the rebasing will cost it K5 billion [nearly US$1 million] in terms of systems and infrastructure upgrade. | Saro-tsapain-tanana hatrany ny tombony […] Nambaran'ny Standard Chartered Bank Plc tamin'ny voalohandohan'ny volana Oktobra fa ny fanavaozana dia mitentina 5 lavitrisa Kwacha [tokony ho 1 tapitrisa dolara Amerikana] raha resaka fanavaozana rafitra sy fotodrafitrasa. |
10 | Part of the money will also go towards staff training in order to ensure a smooth transition to the new kwacha. | Ny ampahany amin'io vola io dia mankany amin'ny fanofanana ny mpiasa mba hampisosa ny fifindrana makany amin'ilay kwacha vaovao. |
11 | National Savings and Credit Bank (NATSAVE) revealed late October that it has so far spent K1 billion on the initial preparation of the rebasing of the Kwacha. | Ny National Savings sy ny Credit Bank (NATSAVE) (Tahiry Nasionaly sy Banky Mpampindram-bola) no naneho tamin'ny faramparan'ny volana Oktobra fa hatreto dia 1 lavitrisa kwacha no lany tamin'ny fikarakarana voalohany ny fanavaozana ny sandan'ny Kwacha. |
12 | The money has gone on reconfiguration of the IT platform and general implementation of the rebasing preparation in its 27 branches across the country. | Nentina namerenana nanamboatra ny sehatra IT sy ny fitaovana ankapobeny anaovana ny famerenana ilay sandany tanatin'ireo sampany 27 manerana ny firenena izany vola izany. |
13 | The contributor was even more critical of the move by the government: | Nitsikera bebe kokoa mikasika io hetsiky ny governemanta io ilay mpandray anjara: |
14 | It is sad that this was a purely political decision. | Mampalahelo ny mieritreritra fa fanapahan-kevitra politika rano fotsiny izany. |
15 | No single economic assessment was done by GRZ! | Tsy misy fanaraha-maso ny resaka toe-karena mba nataon'ny GRZ mihitsy! |
16 | This of course is largely due to the “blind faith” of ordinary Zambians in the ability of government to think through things. | Mazava ho azy fa noho ny “fahatokisana anjambany” ataon'ireo Zambiana tsotra manoloana ny fahaizan'ny governemanta mandinika avy amin'ny alalan'ny zava-misy. |
17 | Too many Zambians are content with simply saying, “government has thought through it, so it must be true”. | Maro ireo Zambiana izay mifaly fotsiny amin'ny filazàna hoe, “Nandinika lalina an'io ny governemanta, noho izany dia marina ny heviny “. |
18 | It is 2012, it is shocking posture to hold that can only be explained by the psychological effects of the colonial legacy. | 2012 isika izao, mahatohina ny mandray toerana izay tsy hay hazavaina raha tsy avy amin'ireo dona ara-tsainan'ny lova navelan'ny fanjanahantany. |
19 | A comment under the blog indicated who would end up bearing the cost of the rebasing: its simple really. | Nanondro izay hizaka ny vokatr'io fanavaozana io any am-para ny tsikera teo ambanin'ilay bilaogy : |
20 | i spend i billion as a business as cost incured in kwacha rebasing,i will have to find a way to recover it and ofcourse i must fined a way of transfering my cost on the consumer”””??what??did you think i would spend that much for free?it makes no business sence……. | Tsotra be mihitsy. mandany iray miliara aho ho vidin'ny fanavaozana ny sandam-bola kwacha,tsy maintsy hitady vahaolana aho hamerenana ny vola lany ary mazava ho azy fa tsy maintsy mitady làlana hamindràna ny fandaniako ho any amin'ny mpanjifa aho “””?? Inona??noheverinao fa handany izany rehetra izany maimaim-poana aho? |
21 | Responding to the blog above in a separate write up, Francis Ilunga dismissed the anonymous writer's argument, stating that he was an employee of the Bank of Zambia but writing in his personal capacity: | Tsy misy dikany ara-barotra izany ……. Namaly io bilaogy voalaza etsy ambony io tanatinà lahatsoratra iray hafa i Francis Ilunga, nandiso ny hevitr'ilay mpanoratra tsy mitonona anarana ary milaza fa mpiasan'ny Bankin'i Zambia izy taloha saingy manoratra ho azy manokana ankehitriny: |
22 | […] The author has however neglected to mention the costs that most businesses incur in reconfiguring/ customizing standard packages (accounting/audit, etc), that they acquire from time to time. | […] Na izany aza dia adinon'ilay mpanoratra ny nanonona ireo masom-bola ilain'ny ankabeazan'ireo mpanao raharaham-barotra amin'ny fanamboarana/ fanovàna ny endrik'ireo tolotra mahazatra (fitantanam-bola/fitsirihana, sns), izay azon'izy ireo rehefa mandeha eny ny fotoana. |
23 | You will appreciate the fact that the packages used in Zambia are developed in jurisdictions where values, at a maximum, tend to be in millions. | Hankafizinareo ny fanamboarana ireo tolotra nampiasaina any Zambia tany amin'ireo fari-piadidiam-pitsarana izay fara-fahabetsany dia aman-tapitrisany ireo sadam-bola. |
24 | The present situation in Zambia, where some organizations, especially banks record values in billions or trillions of Kwacha, requires further customization of such packages in order to widen data fields, which tend to be very costly. | Ny zava-misy ankehitriny ao Zambia, izay hilàn'ireo fikambanana sasany, indrindra ireo banky manan-tahiry Kwacha an-davitrisa na ‘trillion' , fanovàna ny endrik'ireo tolotra mba hanaparitahana ireo toerana firaketana, izay mihalafo dia lafo tokoa. |
25 | With the rebasing of the Kwacha, businesses will no longer be spending money on the reconfiguration / customization of newly acquired packages. | Miaraka amin'ny fanavaozana ny Kwacha, tsy handany vola intsony amin'ny fanamboarana/ fanovàna ny endrik'ireo tolotra vaovao vao azo ny fandraharahana. |
26 | Ilunga also gave the historical perspective of the decision to rebase the Kwacha, writing: | Nanome ny fomba fijery ara-tantara mikasika io fanapahan-kevitra hanova ny Kwacha io ihany koa Ilunga, izay manoratra ,hoe: |
27 | […] The idea of rebasing of the Kwacha was conceived in 2003, but couldn't be implemented because prevailing macroeconomic fundamentals at the time did not permit such. | […] Novolavolaina tamin'ny 2003 io hevitra hanova ny Kwacha io, nefa tsy afaka nampiharina noho ny tsy famelan'ireo fototra ‘macro'ekonomika nisy tamin'izany fotoana. |
28 | For instance, high levels of inflation, would have meant returning to higher value denominations within a short space of time, as was the case in Zimbabwe. | Ohatra, midika fiverenana amin'ireo fanomezana lanja ambony ao anatinà fotoana fohy ny fampakàrana ambony be ny vidim-piainana, tahaka ilay tranga niseho tany Zimbaboe. |
29 | In the recent past, inflation has slowed down and dropped to a single digit. | Tato anatin'ny fotoana vitsy lasa, nidina izany fidanganana maharitra izany ary nilatsaka ho isa iray sisa. |
30 | This low level of inflation, coupled with favorable macroeconomic conditions, has provided an opportune time to rebase the Zambian currency. | Ity fidinan'ny vidim-piainana ity, miaraka amin'ireo fepetra ‘macro'ekonomika, dia nanome ny fotoana mety ho fanavaozana ny sandam-bola Zambiana. |
31 | Therefore, the rebasing of the Kwacha has nothing to do with politics as the author alleges. | Araka izany, tsy misy idirany amin'ny politika araka ny nambaran'ilay mpanoratra ny fanavaozana ny Kwacha. |
32 | He explained what the Central Bank has been doing to prepare for the rebasing: | Nanazava ny zavatra nataon'ny Banky Foibe hanomanana io fanavaozana io izy: |
33 | You will be pleased to note that the last 3 zeros on the current K50000 , K20000 , K10000 , K5000 , K1000 notes (in red), are all small and raised, and the reason for this is simple, the BOZ had in mind the idea of rubbing off these small raised zeros at an opportune moment, and that opportune moment is now. | Ho faly ianao hanamarika fa lasa kely avokoa sy nakarina ireo aotra 3 amin'ireo vola (miloko mena) K50000 , K20000 , K10000 , K5000 , K1000, any tsotra ny anton'izany, tao an-tsain'ny BOZ ny hanala ireo aotra kely niakatra ireo tamin'ny fotoana mety, ary ankehitriny izany fotoana izany. |
34 | Commenting on Ilunga's blog, an anonymous contributor wrote: | Mitsikera ny bilaogin'Ilunga ny mpandray anjara iray tsy nitonona anarana , ary nanoratra: |
35 | bravo, you are indeed and economist, we need such express information so that people are not lead to believe that rebasing of the Kwacha is just an acamedic [sic] & costly exercise meant to benefit a few individuals and institutions. | arahabaina, tena mpahay toekarena tokoa ianao, mila fampahalalana faingana tahaka izany izahay mba tsy hahatonga ny olona hino fa fampiharana akademika [sic] & mandany vola fotsiny natao hanomezana tombotsoa olom-bitsy sy ny andrim-panjakana ny fanavaozana ny Kwacha. |
36 | A reader on the Lusaka Times website, Enka Rasha, slammed the changes as cosmetic: | Nanakiana mafy ireo fanovàna ireo ho toy fikarakaran'endrika ivelany ny mpamaky iray tao amin'ny vohikala Lusaka Times, Enka Rasha: |
37 | The costs of this artificial dressing up of the kwacha could've built a few schools. | Mety nahavita toeram-pianarana vitsivitsy ny vola lany tamin'ity fikarakarana ivelany ny kwacha ity. |
38 | Afterall countries like Vietnam got an exchange of 1 dollar to 20,000,Bolivia has 1 dollar to 7000 and 1 US dollar =25000 Cuban pesos yet these countries aren't in a hurry to do cosmetic changes like zambia. | Manakalo dollar 1 amin'ny 20.000 ireo firenena tahaka an'i Vietnam, 1 amin'ny 7000 kosa i Bolivia ary ny 1 dollar Amerikana =25000 pesos Kiobana nefa tsy maika hanavao endrika tahaka an'i Zambia ireo firenena ireo. |
39 | Make the economy better with improved earnings and livelyhoods before you rush for cosmetic changes. | Hatsarao aloha ny toekarena miaraka amin'ireo vola miditra sy fari-piainana tsara alohan'ny ihazakazahanao mankany amin'ireo fanovàna endrika. |
40 | Zambians are waiting for the new currency to come into effect which is just a matter of time as the government has already taken the bill to parliament. | Miandry ny fampiharana ireo sandam-bola vaovao ireo ny Zambiana, izay fotoana vitsy monja satria efa nitondra ilay volavolan-dalàna tany amin'ny parlemanta ny governemanta. |