CONSEQUENCES OF ECONOMIC MELT DOWN
I recall that during the 2008/2009 banking crisis, during the Sub Prime issue, which led to the closure of Leaman Brothers, a big American bank, the meltdown was badly felt across the world.
One big African country being closely linked with the international banking system felt the biggest impact in Africa. This led to a huge rise in interest rates, and customers could no longer afford to service their various credit facilities. Houses and vehicles were notable repossessions from customers who defaulted. Non secure credit facilities such as personal loans, credit cards, and so on and so forth were being suspended by banks and customers placed under credit rehabilitation, which meant they could no longer access credit.
Interestingly, recorded suicide cases were on the rise due to financial stress experienced by affected individuals as it became challenging to meet their daily living obligations.
Sadly, I seem to wake up every day in Zambia and hear of suicide cases that seem to be taking place on a frequent basis. Some are attributed to relationship disputes, which in my view is likely linked to economic hardships.
It is important to pay attention to this emerging trend in our country, which is likely directly attributed to economic hardship.
Aside from suicide social immorality seems to be on the rise across all age groups, even amongst married couples.
This points to a lack of leadership in urgently addressing the high cost of living. I pray and urge all Zambians to remain resilient under these very difficult times in our country.
There is a silver lining at the end of the horizon – 2026 is not too far! Let us support each other materially and emotionally and preserve our precious God-given lives. Suicide is not a solution.
We will get there sooner than later to alleviate the economic misery the country is going through. It gets dark sometimes, but the morning comes.
God Bless!
Fred M’membe