HH’s monumental failures
Amb. Emmanuel Mwamba wrote;
He was touted as a farmer, yet he has done more damage to the agro sector, than any other President previously.
It is October, and farming inputs are not in districts sheds and warehouses and camps for distribution.
He was presented as an economic manager, yet he has damaged the economy with, especially careless and dangerous decisions made especially those regarding the mining sector, energy sector and commerce and trade.
Further only companies associated with him such as Aflife and Saturnia Regna have benefitted from Government business acquiring $40million Environmental Fund from the Ministry of Mines and Mineral Development,or selling derelict buildings to Government or its agencies.
Zambians had to rise in unison when Zambia National Service (ZNS) appeared to buy a farm for $13million from ZAMBEEF, without tender process or viability of the farm.
He was touted as a business man with remarkable acumen of success and that he would promulgate business friendly policies, he has become the worst enenmy of the business sector with small, medium and large sector facing closures and collapse.
I’m therefore not surprised by the harsh but realistic assement below;
Sharpest decline in private sector performance for over four years
September Purchase Managers’ Index (PMI) data signalled a further decline in business conditions across the Zambian private sector.
The downturn gathered momentum and was the sharpest since August 2020. as output, new orders and employment contracted at steeper rates.
The impact of load shedding and severe power cuts continued to restrict business operations and place strain on capacity.
Moreover, backlogs of work rose at the fastest pace since January 2020. Although companies remained upbeat regarding the year-ahead outlook for output, confidence
dropped to the lowest in six months.
At the same time, higher supplier and energy costs pushed overall input prices up.
Subsequently, firms raised their output charges, with the rate of inflation quickening
The headline figure derived from the suryey is the Purchasing Managers’ IndexTM (PMI).
Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a
deterioration.
The headline PMI posted 45.6 in September, down notably from 48.3 in August, to signal a strong decline in the health of the Zambian private sector.
The latest data indicated a tenth successive monthly downturn in business conditions, and the fastest deterioration since August 2020.
Load shedding and the impact of lengthy power cuts constrained firms again in September, as output contracted at the sharpest pace since February 202.
Reduced capacity and lower purchasing power at customers as energy costs rose weighed on demand conditions. New orders declined for the second month running, with the pace of decrease accelerating
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