Automotive Products Limited (APL), a local Isuzu vehicle dealer, says the persistent foreign exchange shortage is severely affecting its operations, making it increasingly difficult for the company to meet growing demand for vehicles.

APL National Sales Manager Gift Mandowa said the shortage of forex, coupled with a challenging economic operating environment is disrupting the company’s ability to secure adequate vehicle supplies.

 “We are failing to meet demand because supply is being hampered by the lack of forex and the difficult economic environment in which we are operating,” Mandowa said.

He made the remarks in Lilongwe on Friday when APL contributed K15 million towards the elective conference of the Indigenous Customs Clearing and Forwarding Agents Association (ICCAFA), scheduled to take place in Mangochi in October.

Mandowa said the forex challenges were putting significant strain on businesses that rely on imports, including the automotive sector.

Meanwhile, ICCAFA member and organising chairperson Ephraim Namagonya said the association intends to establish a long-term partnership with APL to develop homegrown solutions to the country’s persistent foreign exchange challenges.

Namagonya said stronger collaboration between the private sector and industry associations could help identify practical measures to ease the impact of forex shortages on businesses.

The ICCAFA elective Annual General Meeting is scheduled for October this year in Mangochi, where members are expected to elect new office bearers and discuss issues affecting the customs clearing and forwarding industry.