Breaking NewsBusinessMining

ANDD Raises Concerns Over Zambia’s Economic Crisis

The Advocates for National Development and Democracy (ANDD) has sounded the alarm over Zambia’s ailing social-economic status, emphasizing the need for urgent and decisive interventions to restore economic stability in the country.

In a statement issued today, ANDD Executive Director Samuel Banda expressed growing concern over the dire state of Zambia’s economy, citing factors such as the depreciation of the kwacha, volatile exchange rates, and the soaring cost of living and doing business.

Mr Banda highlighted the adverse impact of these challenges, including the closure of small businesses and a rise in unemployment rates.

ANDD ‘s Director particularly underscored the detrimental effects of the ongoing eight-hour load shedding, warning that without immediate action, the economy could spiral out of control.

He called upon the government to prioritize the interests of the majority of Zambians, especially youths engaged in small enterprises heavily reliant on electricity, such as salons, barber shops, shawarma sellers, welders, and butcheries.

“The UPND government must not ignore the numerous economic challenges facing the country but must implement policies that benefit Zambians, stabilize the kwacha, and reduce the cost of living and doing business,” Mr. Banda emphasized.

Furthermore, Mr. Banda stressed the importance of revitalizing the mining sector, which he identified as a crucial economic driver.

He urged the government to ensure optimal operations at mines such as Vedanta KCM and Mopani, emphasizing the need to increase copper production and export volumes to generate foreign exchange and stabilize the exchange rate.

“Zambia’s mineral portfolio is abundant, with resources such as copper, gold, manganese, and cobalt, which can be harnessed to support and develop the economy,” Mr. Banda noted. He emphasized the need to focus on leveraging these resources rather than solely relying on external aid packages.

In conclusion, Mr. Banda called for swift and strategic action from the government to address the economic crisis, urging a concerted effort to harness Zambia’s natural resources and promote sustainable economic growth and development.

The ANDD’s statement reflects growing concerns within Zambia over the country’s economic challenges and the pressing need for effective solutions to alleviate the hardships faced by its citizens.

Leave a Reply

Your email address will not be published. Required fields are marked *