PRESIDENT HAKAINDE HICHILEMA IS THE BEST PRESIDENT SINCE INDEPENDENCE AND HERE IS WHY- Saviour Chishimba

PRESIDENT HAKAINDE HICHILEMA IS THE BEST PRESIDENT SINCE INDEPENDENCE AND HERE IS WHY

Before you offer your opinion, kindly answer one question. Which President inherited the weakest economy in Zambia’s history since independence and what did he do with it? If we judge Presidents not by emotions, but by what they inherited and what they left behind, the answer may surprise you.

Every President inherits a different Zambia. Some inherit overflowing coffers. Others inherit empty coffers. Some begin their presidency with international goodwill and abundant resources. Others begin with debt, economic distress and declining public confidence. That is why the true measure of leadership is not where a President starts, but where he takes the nation.

President Kenneth Kaunda inherited one of Africa’s strongest economies at independence. Zambia possessed substantial foreign exchange reserves, a strong mining sector and a currency that ranked among the strongest in the region. He deserves lasting honour for Zambia’s immense contribution to the liberation of Southern Africa. He spent our national resources to free Southern Africa. Domestically, however, the economy gradually weakened as state control expanded, productive efficiency declined and the country became increasingly burdened by economic challenges

President Frederick Chiluba inherited an economy under severe strain and a heavy debt burden. His administration introduced important market reforms and benefited from significant support from cooperating partners, who financed major programmes such as the construction of thousands of schools, road infrastructure and other development initiatives. By the end of his tenure, fiscal discipline had weakened and public finances again came under considerable pressure.

President Levy Mwanawasa inherited another difficult economy. Through firm fiscal discipline, anti corruption measures, economic reforms and international debt relief initiatives, Zambia gradually regained stability. The first years were painful for many households, but those reforms eventually produced results. During his administration, Zambia attained middle income status for the first time since independence, a remarkable national achievement that deserves recognition.

The period from 2011 to 2021 saw another sharp deterioration. Public debt rose rapidly, investor confidence weakened, macroeconomic stability deteriorated, inflation accelerated, the Kwacha depreciated significantly, and Zambia became the first African country to default on its sovereign debt in 2020. Ordinary families experienced an unprecedented rise in the cost of living.

President Hakainde Hichilema inherited perhaps the most difficult economic situation any Zambian President has faced since independence. He inherited depleted fiscal space, unsustainable debt, low foreign exchange reserves, damaged investor confidence and an economy under severe stress. Within 4 years and 10 months, Zambia has restored macroeconomic stability, concluded a complex debt restructuring process, rebuilt international confidence, bought back the Eurobond, strengthened foreign exchange reserves, reduced inflation substantially, stabilised the Kwacha compared with the crisis years, returned the economy to positive growth, expanded free education, increased social protection and created a platform upon which private investment can grow.

The most important point is that sustainable prosperity is never built by printing money or accumulating unsustainable debt. It is built by restoring confidence, encouraging production, attracting investment and creating the conditions for businesses, farmers and entrepreneurs to succeed. That foundation is exactly what is being rebuilt today.

President Mwanawasa’s reforms were unpopular in their early years, yet they later transformed Zambia’s economy. President Hakainde Hichilema is following a similar path. First stabilise the foundations, then expand production, create jobs and raise household incomes. Those who dismiss stability as meaningless misunderstand how every successful economy in the world has been built.

In my assessment, when the full story is written. not only by today’s politics but by tomorrow’s historians, President Hakainde Hichilema will stand among Zambia’s greatest leaders because he inherited one of the country’s deepest economic crises and chose the difficult path of rebuilding rather than the easy path of short term political popularity.

Zambia Forward, TOGETHER in UNITY. 

Saviour Chishimba
President
United Progressive People (UPP)
UPND Alliance Partner