LOW HANGING ECONOMIC FRUITS FOR PRESIDENT HICHILEMA BETWEEN NOW AND 2026
19th July, 2024
The IMF/World Bank prescribed economic interventions implemented by President Hichilema are a total disaster for the Zambian economy.
Once again like the structural adjustment programs, SAPs of the 90’s, Zambians have being subjected to very harsh economic conditions.
People and businesses are suffering, President Hakainde Hichilema and the UPND must focus on 3 economic priority areas for the next 2 years;
- Increase government revenue: The low hanging minerals/resources are gold, sugilite, lithium and agriculture.
For the next 2 years, Government must raise and pump directly into the local economy a minimum between US $500m to $1.5 billion per year.
Outcome: $3 billion in 2 years of ‘new money’ into the local economy will certainly translate into poverty reduction for a common Zambian.
- High Quality Startups: Invest $1 to $2 billion directly in 10,000 to 20,000 Zambian startups to create 50,000 to 100,000 direct jobs in the private sector for the next 3 years.
Outcome: By year 2027 and beyond, the $2 billion local investment will grow to approximately $4.5 to $5 billion added to the Zambian economy.
- Increase ease of doing business for the current 50,000 local small and medium businesses across all the sectors of the economy.
Outcome: The measure will increase the Country’s GDP and raise people’s income to afford the high cost of living. This measure will translate into an additional 50,000 informal jobs approximately.
To put it simply, President HH and his government must raise more government revenue from local resources and expand the local economy to create approximately 150,000 plus jobs in the private sector between 2024 and 2027.
The solutions to Zambia’s economic malaise; the high cost of living, stagnant economy, high poverty levels, unemployment are all within Zambia.
The question is “Is president Hichilema and his government capable of changing economic course?”
Silavwe Jackson
President
GPZ.