This is a government that sells national strategic maize stock reserves, perpetuates chaos in economic sectors such as the agriculture and lets the Kwacha become the worst perforning currency in the world, adversely affecting an import-oriented nation.
By Amb. Emmanuel Mwamba.
Lusaka, Feb. 12 – Zambia’s copper production was 860,000 metric tons in 2020, the highest ever since the 80s. But Jito Kayumba, who is a Special Assistant and Advisor to President Hakainde Hichilema on Economic, Investment and Development Affairs, can’t even grasp basic recent records and statistics.
Equally, government had made strategic decisions to own KCM and MOPANI through ZCCM-IH. This is because of the global outlook that demonstrates that copper as a commodity will enjoy the highest price ever for decades to come because of the electric motor vehicle industry.
Also Read: How Hichilema has given away Zambia’s crown in mining for nothing.
The next stage was to capacitate ZCCM-IH to invest in the mines by sourcing required capital. But this Government has chosen to give away the assets.
Infact, with future and positive copper prices projections, the action by Government will only make billionaires in Vedanta, KoBold and IRH and leave Zambia with despair and environmental damage.
Look at their decision on Kansanshi and KCM. Literally criminal!
Also Read: State House forced ethical Banda to resign as ZCCM-IH Board Chairperson.
Anyway, this is a Government that sells national strategic maize stock reserves, ignoring the perils of weather forecast and prudent management! This is a Government that perpetuates chaos in economic sectors such as the agriculture, 3 years in a roll! This is a Government that lets the Kwacha become the worst perforning currency in the world and adversely affect an import-oriented nation.
Also Read: The decision to re-engage Vedanta reeks of corruption!
But we can agree with Jito. It’s dark…the darkest this country has ever gone through since 1980s! Sadly there is no credible economic recovery plan or solution from them.
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