Economic Sabotage—an own goal in a game where other nations are strategically securing their wealth – Linda Banks
She wrote✍️
This decision is a betrayal of Zambia’s future. The scrapping of the 15% export duty on emèrálds and precious mínerals is nothing short of economic sabótage—an own goal in a game where other nations are strategically securing their wealth. While countries like Botswana and Burkina Faso leverage their mineral resources to build resilient economies, Zambia is throwing away its bargaining chip, all because a few well-connected elites whispered in the right ears.
Let’s not mince words: this was not a decision made in the interest of Zambians. It is well known that Kagem Mining Limited,a foreign entity has long operated with undue influence, allegedly greasing palms across the political and law enforcement spectrum to maintain its stranglehold on the emerald industry. And now, we see the result: a government bending over backward for corporate interests while leaving its people to struggle in mineral rich poverty.
Jito, I have immense respect for you and you know that. We can talk anytime, and I consider you a friend. But friendship does not mean silence in the face of national betrayal. This decision is reckless, shortsighted, and utterly lacking in a broader economic vision. No serious country caves in to corporate whining so easily. Businesses are profit driven,they will always resist taxation. That is why strong leadership is necessary, to stand firm and ensure that Zambia benefits from its resources.
Look at Botswana,where diamond taxation and strong local ownership have turned the nation into one of Africa’s most prosperous. Look at young Captain Ibrahim Traoré in Burkina Faso, refusing to be bullied by foreign powers and instead ensuring that his country retains control over its natural wealth. Meanwhile, in Zambia, we act like beggars at our own table, allowing our emeralds to enrich foreign investors while our mining communities wallow in destitution.
And for what? So one man can lobby the government on behalf of a company that has already sucked millions out of our land? Victor Kalesha’s advocacy for Kagem is not just disappointing but also a slap in the face to his own Lamba people, who continue to live in conditions worse than the worst Kenyan slums. My last visit to my ancestral home was heartbreaking, no running water, impassable roads, and grinding poverty. Yet we are told to celebrate tax breaks for multinationals. Who benefits from this? Certainly not the ordinary Zambian.
The most painful part is the sheer lack of foresight. This policy was not even properly communicated to the people,it was thrown at them without context, leaving room for speculation, propaganda, and public frustration. Why wasn’t there a proper briefing, a clear explanation with figures and case studies showing how this benefits the nation? Instead, the government has handed a victory to those who thrive on misinformation and political opportunism.
President Levy Mwanawasa, in his wisdom, once said, “If we have failed to run the mines, let us leave them for our grandchildren. They can do a better job.” This government should take those words to heart. Zambia cannot afford to keep selling itself short, making rushed, poorly thought-out decisions that mortgage our future for the benefit of a few. Parliament must move to ensure that such critical policies are not made in secrecy, at the whims of individuals, without broad consultation and economic justification.
Jito, you and your colleagues in the Ministry of Finance must wake up. The President’s job is hard enough without his advisors and policymakers making it even harder. Zambia deserves better, and history will not be kind to those who sell it out.