Zambia’s failure to harness its rich emerald resources is a result of poor leadership, stunting economic growth despite the vast potential for prosperity through local ownership and value addition.
By Mpandashalo Mwewa.
Lusaka, Oct. 9 – Zambia is a nation blessed with an abundance of precious minerals, notably emeralds and sugilite, yet it continues to grapple with pervasive poverty. The crux of this dilemma lies in a chronic failure of leadership that has, for decades, reduced these invaluable resources to mere commodities.
Also Read: We don’t have a capable leader to mobilise national wealth.
“It would be a waste of time to get the debt restructuring without creating the necessary production capacity in the country to repay the debts when the repayments are due!” – Nawakwi.
Rather than leveraging its rich mineral wealth as a springboard for comprehensive development, Zambia has neglected to pursue diversification and value addition. This shortsighted approach has stunted economic growth, leaving the nation in a cycle of dependency and underdevelopment.
Imagine the potential for prosperity if Zambia’s leaders recognized the true value of its resources. With emeralds fetching up to $40,000 per gram – equating to an astounding $40 million per kilogram – the economic landscape could be transformed in less than a decade under astute political stewardship. The country produces between 2 and 3 tonnes of high-grade emeralds annually, presenting a unique opportunity for local empowerment and economic expansion.
However, the mining of these gems remains predominantly in the hands of foreign-owned entities, leaving Zambians on the sidelines of their own wealth. The question then arises: why is Zambia allowing its most valuable resources to be managed by outsiders when it possesses the capacity to cultivate its mineral wealth independently?
Also Read: Zambia Needs Leaders Who Prioritize Minerals’ Value Over Extraction Wages.
The current political leadership under President Hichilema is incapable of developing Zambia, driven by an inferiority complex that prioritizes wages from foreign entities for extracting our valuable minerals.
The persistent underutilization of Zambia’s mineral wealth serves as a poignant reminder of the critical importance of visionary leadership. A government committed to the development of local industries and the promotion of value-added production can create a ripple effect throughout the economy.
By investing in local mining operations, Zambia could not only increase its revenue but also create jobs, stimulate innovation, and enhance the skills of its workforce. The country must move beyond viewing its resources as mere exports; instead, it should focus on building a robust domestic industry that fully realizes the economic potential of its precious minerals.
In essence, Zambia stands at a crossroads. The abundant treasures buried beneath its soil could become the lifeblood of the nation, driving sustainable development and improving the quality of life for its citizens. However, this requires a fundamental shift in leadership vision – one that prioritizes the long-term interests of Zambians over short-term gains.
If Zambia can muster the political will to reclaim its resources and invest in its future, it has the potential to rewrite its narrative from one of poverty to one of prosperity, transforming its abundant mineral wealth into a beacon of hope for generations to come.
Also Read: Emerald can propel Zambia to first world status in a decade!
…under capable political leadership! To put it into context, high grade emerald can cost as much as $40,000 per gram or roughly $40m per Kg. Zambia produces between 2 tonnes and 3 tonnes of per year.
About The Author: Mpandashalo Mwewa, currently the Chief Editor at Woodpecker’s Digest, formerly held the same role at Zambia Reports. Known for championing Pan-African education reforms with a focus on critical thinking, he employs journalism to instigate social transformation.
About Our Advocacy: Woodpecker’s Digest provides in-depth analyses and commentary on issues of national importance, alongside articles on personal development and health. We believe journalism can be a force for socio-economic change.
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