By Amb. Emmanuel Mwamba
K26.6
Shapwa Already?
When the IMF Executive Board completed the third review under the 38-month Extended Credit Facility (ECF) Arrangement for Zambia and approved provided the immediate disbursement of US$569.6 million towards the $1.7billion Bail-out, the Kwacha gained and appreciated to K22 per dollar.
I stated that the Kwacha will soon go back to its home of K27 as the injection of this IMF money in the economy was temporary.
The long-lasting solution is for the country to benefit from its exports and export proceeds.
Zambia’s largest export remains copper. However we don’t own the mines, we dont tax the mines, we give unnecessary incentives to the mines, and the owners of the mine have no obligation to repatriate the export proceeds to Zambia.
Our currency will remain weak because of this and other factors.
The foreign exchange market will remain volatile and its instability will continue to extend to trade and extremely disruptive to this import-oriented economy!
Mwamba you’re childish and useless. All your wishes will never work
The one that is useless is your ka small tribalist god. Totally impotent.
Vote wisely in 2026.
Mr. Mwamba knows that the ownership of mines through privatization has been there for more than thirty years now. Incentives and many tax versions have been there, you PF guys found and left them, UPND found them and will leave them. Under PF, it was even worse because that’s the time we had KCM and Mopani issues which you failed to resolve. Even under liquidation, KCM money was still being siphoned, where were all these ideas that you are trying to bring in now?
It is very disappointing to hear such things from one among the people who were in power for seven years and did not implement the ideas he is bringing forward. It’s shameful, where is the legacy? The article is full of blaming instead of proving that the good ideas were,atleast , used during their tenure and were successful. I very much doubt if the interest for the writer is to improve the citizenry affairs . It is likely to be his own selfish gains.