Transporters in the country have increased their minimum rates by 44% in response to the devaluation of the Kwacha.
Frank Banda, spokesperson for the Malawi Transporters Association, stated that this decision aims to offset the impact of the Kwacha’s 44% depreciation.
Banda indicated that, as a result of the revision, minimum rates have, in certain cases, risen from K150 to K300 per tone/km.
Speaking to MIJ Online, Banda emphasized that the devaluation is expected to raise operational costs for transporters in the country, prompting this adjustment