Thursday, March 28, 2024

UPND leadder Hakainde Hichilema responds to President Michael Sata’s response

Share

UPND president Hakainde Hichilema
UPND president Hakainde Hichilema

Opposition UPND president Hakainde Hichilema has maintained that Zambia’s economy and governance affairs were being mismanaged under the PF government even going by simple economic and governance indicators and harsh conditions of life that people were currently being subjected to.

Reacting to president Michael Sata’s accusations yesterday that he was just a reckless rumour-monger and a speculative claimant about the economy and the growth of the country, Mr. Hichilema maintained that the country was headed for doom under the PF government.

“If Mr. Sata just picked the economic indicative data of 17 January 2014, he would discover that the Zambian currency was now worthless at K5,570 to 1USD while on the same day in 2010 (17.01.2010) before PF came into power it was K4,345 and on the same day during Levy Patrick Mwanawasa (MHSRIP) in 2006 it was K3,210 to 1USD,” he said.

Mr. Hichilema said these were just simple indicative economic data that the PF administration and Mr. Sata should admit even before going into details of other harsh global prevailing conditions in the past that other presidents at the time were facing.

“We know Mr. Sata has now found another safe hiding place and running the country through his Facebook page, but these are hard facts that importing capital goods currently is more expensive perhaps than anytime in the recent history,” Mr. Hichilema said.

[pullquote]“If Mr. Sata just picked the economic indicative data of 17 January 2014, he would discover that the Zambian currency was now worthless at K5,570 to 1USD while on the same day in 2010 (17.01.2010) before PF came into power it was K4,345 and on the same day during Levy Patrick Mwanawasa (MHSRIP) in 2006 it was K3,210 to 1USD,” he said.[/pullquote]

He said Mr. Sata’s government promised more jobs, low taxes, and more money in people’s pockets but it is a fact that prices of essential commodities such as mealie meal, fuel, electricity and water tariffs, talk-time, transport and others were currently more expensive than the time they took over power contrary to what they cheated the people of Zambia.

On the challenge by State House to Mr. Hichilema to utilize Mr. Sata’s Facebook updates, the opposition leader said he welcomed the initiative of whoever was running government on behalf of Mr. Sata through his Facebook page because at least the country had now been served from some abusive language that is characteristic of each time Mr. Sata appeared in public himself.

“We all know Mr. Sata’s abusive and uncivil language in public, even to his own ministers and other public government officials whom he has publicly insulted in front of cameras. Whoever is running the country by writing those Facebook updates should probably be commended,” he said.

Mr. Hichilema jokingly said perhaps Zambia would now do well to send Mr. Sata’s Facebook page to represent the country at both local and international fora because there is some semblance of civil and sober language coming out there, despite churning out wrong economic data.

“And since he is hiding and running the country behind the computer keyboard, our challenge and hope now is that he allows some of us that want to freely travel and mingle with people in their localities and appreciate their problems do so unhindered by his law enforcement agencies,” Mr. Hichilema.

[pullquote]“And since he is hiding and running the country behind the computer keyboard, our challenge and hope now is that he allows some of us that want to freely travel and mingle with people in their localities and appreciate their problems do so unhindered by his law enforcement agencies,” Mr. Hichilema.[/pullquote]

Mr Hichilema said even when he becomes president in 2016, he will continue to personally mingle and even share meals with people in their localities as a way of appreciating people’s challenges because that was part of his upbringing.

“I want to personally know and see for myself how people in Wusakile, Chamboli, Mandevu, Kalingalinga, etc. , and our poor rural farmers are coping with life other than merely relying on lies and praises from government officials like they are doing to Mr. Sata whom they are cheating that everything was alright. So he should not stop us from holding meetings in these places since he wants to enjoy the comforts of State House while someone is running the country on his behalf through his Facebook page,” he said.

Mr. Hichilema also challenged Mr. Sata and his PF administration to allow him and other political leaders, civil society organizations access to public media so that they can directly address people’s concerns and answer questions there and then.

89 COMMENTS

    • Well HH is making a statement that directly affects development. So slow your role, this is an intelligent argument. No mud slinging, just stating facts.

    • We sent all those Grade 9s into basic Education for the reason of understanding basic matters to enable them vote with some understanding. They used the knowledge bravely to thinly the PF government would be better.

      They can now use the same knowledge to study the history of our country and vote wisely by concluding that this style of leadership by PF is historical in sense that Kaunda governed this way. Then our priority was national security. Kaunda achieved that, we did need it. The second Republic started empowering citizens to economic empowerment and allowed Zambians freedoms to a higher self esteem. The foundation has been well created and PFs supposedly show off about roads is a continuation, but seemingly their priority is to empower the state to make sole decisions even on…

    • Sata must focus on the constitution not HH, Sata plz correct This utter stupidity!!

      @”The investigations, we submit, should not be limited to the Technical Committee but be extended to the government as well since these documents have also been in government’s possession. Indeed the soft copy of both the Draft Constitution and the Report of the Technical Committee are kept at the Ministry of Justice”
      TC, Plz Just declare the New constitution is with the PF government-period

    • The onus is on these young people who are in the majority to know that money in your pocket, comes through creating balanced participation through institutions the second republic created. If the foundation created by the second republic becomes strengthened and it is through investment and other policies in place we thought the. PF government would shift power to the people to feel Zambian again. Alas they are favouring class politics where politicians make decisions to strengthen a clique status quo. Zambians especially the young people should notice this through their knowledge and experiences and bring back the country onto the roadmap. The constitution is one and the lack of opportunity for young people to be creative as would be facilitated by government another.

    • How can you speed up development when the cost of buying equipment required to carry out various developmental tasks are getting expensive due to the depreciation of the kwacha. Zambia ‘s foreign revenue collection per capita is falling drastically and this is impacting on all sectors of the economy because all the all equipment is imported from out side using the US $ of which its price keeps rising uncontrollably.

      Under PF and Sata every thing has become so expensive including major currencies.

      If Sata can be got rid of and replaced by another sane leader may be things would change for the better.

      HH has a valid point like always. Even many people in PF have realised how hard it has become to buy goods from outside.

      UPND and HH! Iam in.

    • @Yama Vision – good points but the younger generation lived social media and Internet and are figuring out entrepreneurial skills did not need Zed government but their beefing up abilities. Let’s remember how many are putting themselves through schools and starting their own business. If anything the MTV generation picked up on hip hop culture in the absence of impetus from their own and it’s influence both positive and negative is prevelant in their drive for success. In reality in the developed countries the kids are leaving FB in droves and using other platforms to share info and knowledge. Not many on the ground in my experience look to government and politicians as an answer.

    • There is one issue which is also usually over looked by most bloggers here and that is the issue of capital flight due bad governance which posses huge political risk to the foreign funds hedged in various sectors of the Zambian economy.

      Right now most foreign investors are busy weighing the options as to whether they should stay in Zambia or not because of lack of rule of law imposed by Sata and his PF. They have seen their friends who refused to pay protection money to PF hounded out of the country without having their cases heard by the courts.

      If MOF can be truthful about FDI figures it will become very clear that the amount of foreign direct investment has taken nose dive and will continue to do so for as long as Sata is in Plot 1.

      Only UPND and HH can put an end to this…

    • Hey guys what has become of the £750 million Eurobond meant to revamp the Zambia National railways.

      No one is saying anything at all and Chikwanda keeps on borrowing which means the Eurobond has already been shared and deposited in off shore accounts.

      Sata we need the constitution now or else ?????????

    • This debate between Sata as Head of state, and HH obviuosly the defacto shadow President is Good for this young democracy but only if it can be sustained.

      I did not vote for Sata but the man has impressed me in that he has embarked on major projects even when elections are still far away,

      Secondly, the man is attempting to do in five years what we failed to do in over 48 years.

      I bet an educated President would have first looked at economic theories before embarking on each project. Sata knows no theories. He just wants roads. schools, Univerities, clinics, stadiums, airports, ring & dual carriage roads what else?

      By the way, we borrowed so much during the first and second Republics. Where did all the money go? We consumed it in mealie meal?

    • Am not sure if the exchange rate is a good measure of the state of the economy. Yes, Mr HH is right to point out that the USD was K3200 to kwacha and today it is K5500. But he deliberately forgets to to compare the kwacha with other curencies such as South African Rand, Botswana Pular etc, This is because during the the same period when the the dollar was around K3200, the the rand was K650 and today it is about K600.

    • I just wonder how many people have Facebook in Luapula and Northern Province.
      Gone are the days when we used to hear a Zambian President talk on Radio 1 , Radio Maria, Radio Mano..

    • How does a normal person use the exchange rate aa a measure to determine if the economy is doing okay or not. This is a trend everywhere in the developing economies. So this is the reason why I say theres no opposition in Zed. Come 2016 PF will beat these boys hands down.HH you will never ever be prez…Keep this post and remind me in 2016 me if I will be wrong.

  1. HHis frustrated.Relying on historical records to argue with no practical solutions.HHis book worm theorist ya vuta ndale.Thinkng it was easy now aftr loosing 2016 wht is going to do?Ci funndo yaba.

    • Well, let us make an effort to see the value of what someone is saying rather than just cheap kaponya politicking. Zambians are getting more advanced in thinking. Certainly the level of thinking of the UNIP vigilantes being exhibited by some bloggers is no longer fitting. The responses by HH are in accordance with what he wrote to the President and based on the response. What will happen if HH loses in 2016 is that he will continue to live and you will have someone else as President. That is neither here nor there. How does the President interact with rural areas where (NOT WERE!!) there is no internet? They will even forget the voice of their President.

    • Ba dada u r a dander head.
      my friend we use statistical data evaluate progress.i think u have no idea about importance of statistical data.u evaluate yo performance based on the past records *****

    • what is there for a rich man to be frustrated about? The other man in State House has seven guns and busy changing goal posts to increase his days so that perhaps he can have a KR2 million in his bank account and earn a pension. The other man (HH) has already billions of Kwacha and large diversified portfolio. Who between the two is bitter and frustrated? The rich man HH or the poor man, Sata of seven guns fame and formerly sustained by GBM/Mathani, trying to get rich to achieve even 5% of the rich and wealthy HH?

  2. This is just too personal ba HH. The other day, I was commending HH for setting out how he would do things differently but he has again resorted to personal attacks on Sata. As an economist, HH should comprehend that the depreciation of Kwacha can both be advantageous and vice versa. He cites that it is now very expensive to import goods. Other scholars would see this as a climate to encourage local production of goods rather than depending on imported stuff all the times. While I would also wish for the president to address the nation on TV from time to time, there’s nothing wrong with using Facebook. Facebook is very much part of the American Presidency for instance.

    • @amayama
      you are an 1diot my brother, if you do not understand a subject(economics) just shut up rather than exposing your ignorance. zambia has no industrial base, with a high exchange rate, it is too expensive to import production equipment into the country, how then can you set up a productive economy? you think exporting rose flowers is what can redeem our economy? ask if you dont know

    • Check your facts,Obama do weekly radio messages and he explains his administration position on the issues affecting the country,he also does press conferences and prompt questions where ever his public appearance is.do people in rural areas use Facebook on regular basis.the Facebook you mentioned is run by Carney and only few are passed to Obama.

    • @Matipa

      You have a strong point there. Some of these fake economist do not understand why countries like the US and UK want their currencies to the strongest in the world.

      There is nothing good about the Kwacha depreciating when the country does not manufacture any machinery and other simple articles of development. Infact Kwacha depreciating is a curse to our economy.

      Is this fool @ amayama telling us that what happened to Zim when they were buying bread for ZM $ 5 000,000,000 was a good thing?

    • Amayama…
      America has internet in everyhome and there is WIFI in public places where those from homes without broadband can access internet. How could you make such an unfair comparison, Yamayam, as though you are from Mars?

      I have noticed that whenver HH responds he is condemned roundly even when he speaks facts. If the letters the President has written to HH were indeed from State House, then our President has been more personal to HH than the other way round. I read the letters on this media and ZWD and I could not help reaching that conclusion. I think the President uses a hammer to kill a mosquito sometimes.

    • @Matipa
      To start with try and refrain from using profanities and debate instead. Without an industrial base, you still do not need to import everything. Are you trying to tell me that if we exported tourism, agriculture products, processed copper on a ratio of 3:1 to imported goods, you would still want a stronger kwacha? Haven’t you heard that Japan and China make their currencies artificially weak when their exports are high, something Americans despise of. I am not advocating for weaker kwacha, but only responding to HH’s reference that capital imports are now too expensive. I would have liked to see figures on whether our exports are now cheaper. Comparing Zambia to Zimbabwe is just nonsensical and scaremongering. Lets think long term internal production rather than reliance on…

    • THIS CHAP CALLED Amayama DOES NOT UNDERSTAND BASIC ECONOMIC,A COUNTRY LIKE ZAMBIA SHOULD HAVE A STRONG CURRENCY BECAUSE COZ IT RELEASE ON IMPORTS.U CAN’T COMPARE ZAMBIA TO CHINA’S ECONOMY IF U NEVER KNEW USA OWNS CHINA $1.6 TRILLION IN DEBT CAN ZAMBIA LEND MACH TO USA? USE YOU BRAIN WHEN INVESTOR COME IN ZED ARE GIVEN TAX INSENSITIVE
      LEAD RATES ARE HIGH
      MEAL MEAL IS ESCALATING
      RENTALS ARE HIGH
      THE COST OF DOING BUSINESS IS HIGH ECT

    • I think both arguments from ‘Amayama’ and the ‘rest’ are valid.

      A weaker Kwacha would boost other sectors of the economy such as exports and tourism… agriculture and mining products or whatever we export. The Australia Reserve Bank right now actually want the OZ dollar to be ‘weak’ against the green buck (US$). A weaker Kwacha would be advantageous to local farmers as their food would be cheaper.

      However, the cost of Capital Imports (machinery) and other ‘white’ goods would be too expensive if the Kwacha was weak… we don’t have a manufacturing base its true. But then again if we don’t have manufacturing sector, do we really ‘worry’ about cost of machinery when we have nothing to produce.

      Both arguments are valid and there’s no need to get personal at each…

    • @ Maverick
      Tourism? Which tourism you are talking about? There is no policy, there is no initiative (ether private or government), do you realize that there is a EXTREME SHORTAGE at ALL LEVELS OF EXPERIENCED AND WELL TRAINED ZAMBIAN PROFESSIONALS which together with successive Governments policy off selling of even future tax revenues to “Micro Investor” has prevented growth of LOCAL TOURISM SECTOR.
      It must be aye opener to see how much of 1.00 USD actually stay in Zambia, and more importantly, which sector of the society benefits from such inflows!!!

    • You are right on American Presidency !! However, Zambian politics in terms of media expression, liberalization, extension and access to all Zambian Citizens appear not to be a reasonable ground to compare with that of the USA, a polity that became a First World in the 1950s. In Zambia means, Facebook accessibility knowledge and use is limited only to a small number of Zambians. It is true to hold that there is nothing wrong with using Facebook.May I say that I respect your opinion my brother/sister just as I would like mine to be esteemed. In conclusion, what Zambia needs is a Christian Leader, a real Man of God in State House, not Ritualists, Masonists or Traditional Rulers in State House.

    • One does not have to be a cadre to vote for someone. I have never belonged to any political party since the “demise” of UNIP which every worker in those days was forced to join by being “involuntarily” sold a membership card. I voted MMD in 1991 and 1996 without being a member. In later years I voted for other parties. I am currently studying the attitudes of party leaders (not policies coz they usually throw them away immediately they get into power) now to decide who to give my vote in 2016. Cadreism is out for me. If I want to support a party materially, I still do not have to be their member. That is my personal political philosophy.

    • HH should not think that all Zambians are dull(unfortunetly, a good number are…).Cheap politics again from HH…
      Almost all countries in the region including South Africa experienced similar depreciation trends in their currencies.

      South Africa
      2006-ZAR 6.12….2010-ZAR 7.61……2014-ZAR 10.94

      Malawi
      2006-MWK 136.6…2010-MWK 150…….2014-MWK 432.3

      Angola
      2006-AOA 80.16…2010-AOA 92.25…..2014-AOA 97.61

      HH needs to do more research before making public pronouncements.

  3. I think this FB thing caught everyone off guard but comedic timing is everything so this doesn’t sound like a great come back. The powers that be are in a new digital world now. They probably light up when they see a Top Ten list. Post on his wall that there is a new hidden camera reality show named “What You Cannot See From Plot 1” then link it to your YouTube channel with footage of you running around the country with a smart phone chatting over lunch with people. Then they will push ZNBC to stream…. Oh let me stop…my point…playground politics…go turn one village in to an example of what you promise. Any of you opposition up for that or are you all too busy monitoring FB…

    • A phiri do it. Run that camera. That would be an impact in Zambia if you can do it personally, but requires stealth technology, which would be investigative journalism. Tricky in Zambia, but MUVI is doing it.

      We depend on the the young Zambians (and lond minority) to effect change. One needs to be self sufficient to be that creative. If you have sponsors you may also do it, maya a political party or else your interest is very important to the nation. HH is doing things with his wealth background and watch this space, he is competitor and a likely person to have a know of the basis of Zambia. But young Zambians are wooed by the spirit of patronage now. Patriotism on one hand is there on many young people, Christian values possibly make an in depth difference as a philosophy rather…

    • If Sata is scared of giving a press conference to his journalists in state run papers , do you really think he can agree to appear on a debate?

      For that to happen we need HH in power first then televised National debates will be held in every province once every month.

    • Good call! Was having that conversation with friends recently. People can make their own minds up by seeing the politicians present their arguments on a platform that allows people to judge for themselves. It can also be streamed for further interaction.

    • No sitting president including Obama would risk having a live debate with opposition leaders as it is of no benefit to him that’s the reason he is called a president. The best you can do is push for a press conference.

    • @Jay Jay – British Prime Minister’s Question has a platform enshrined for dealing with some type of interaction weekly. Come elections every US political leader wanting to be Prez has to publicly debate his own party and then compete with others. The whole world gets to watch.

    • Enlighten me Jay Jay. The point above was about leaders of political parties. You brought in a sitting prez and I brought in a sitting PM. Are there parameters to this I am not privy to or did you see my comment as a challenge and not a further dimension?

    • @A Phiri ana bwe…
      This is basic Social Studies surely do you want me to highlight to you the differences; This is the selfsame reason why we have a Vice President in Zambia he is closest we have to a Prime Minister who heads the ruling party in parliament. The president of Zambia maybe the president of the ruling party but he is also the Head of State.

  4. This man should stop inhaling cattle f.a.r.t. This is what he is now spewing every day. Can he for once just shut up and continue his campaigns without undermining the Presidency. The more he shows his arrogance like this the more I hate his guts. I think a barber shop visit may just reform this professional dancer.

    • @Tandizo ……. most likely you and your whole clan will never have what HH has; according to Sata ZMK360 billion. The man has ranches and various businesses which makes the likes of you green with envy. HH does not need the wealth of State House for even if Sata stayed there for 50 years, he would NEVER have the wealth of HH (full stop).

      HH is talking on behalf of the poor Zambians like you, unless you are a pf cadres employed in diplomatic service , are suffering. My colleague and I have kids in UK and Australia are are now paying more for their fees due to the depreciated Kwacha. The Kwacha is weak due to the poor economic policies of Sata. Same applies to the skyrocketing prices of mealie meal, sugar, cooking oil, kapenta, bus fares and all.

  5. Some one on Sata’ s behalf will keep posting/ responding with sweety messages in order to hoodwink the nation. Now the question is do these guys really have a genuine program for this country. How can the whole president hide behind the computer keyboard instead of using the available public platforms where even those in the remotest rural can be privileged to hear the government’ s economic roadmap for the country ?

  6. I love the smell of cattle, milk, beef, manure and the sound of the sleigh, scotchcart and plough pulled by oxen and the smell of the money you make when you sell some heads of cattle. I just love them. How I wish I was in Dar-es-Salaam where they allow you to keep one or two cows for your milk mwa ma yard!!! UUUuuh. Those who hate cattle drink their milk like fish drink water and eat the meat so much. What are you offering in place of cattle which have made Botswana, Argentina, USA, New Zealand rich?? Just what are you offering? Which animal??

    • Ohhh man love cattle too! It has made botswana to be what it is for sure. And the blind ZedianseCmsCms are busy running into bots! Without knowing where their wealth come from, foods ZedianseCmsCms!

  7. I like my battle too. The smell of siloko makes feel at home. I wonder those who condemn battle get their milk and beef from. Oh! I forgot. From monkeys. Beef, yogurt, fresh milk and cheese from monkeys. You should the same *****s when they slaughter a cow or bull. They eat everything including hooves and the skin.

  8. HH should not think that all Zambians are dull(unfortunetly, a good number are…).Cheap politics again from HH…
    Almost all countries in the region including South Africa experienced similar depreciation trends in their currencies.

    South Africa
    2006-ZAR 6.12….2010-ZAR 7.61……2014-ZAR 10.94

    Malawi
    2006-MWK 136.6…2010-MWK 150…….2014-MWK 432.3

    Angola
    2006-AOA 80.16…2010-AOA 92.25…..2014-AOA 97.61

    HH needs to do more research before making public pronouncements.

    • I always maintain my stand that Bakolwe basekana ifipato (Monkeys are fond of loughing at each other’s buttocks). It was our president who used to lough at Mwanawasa ati ” what can a Cabbage do”, used to go the whole lot of him with a 5 liter empty container to buy fuel saying it was expensive, today in his government it is costing K10/liter. He said mealie mill was too expensive in Banda’s time saying “Nyama soya is stealing, today Nshima is K85 in many parts of the country,
      UBufi

  9. Is $1 of last year with the same value as this year in the USA itself? Obviously money loses value by the day whether against foreign currencies or against itself. common sense

  10. We know that the president does not know how to use a computer and cannot interpret simple economic data/indicators.
    Theoretically, George chellah is running the country through facebook…. he must be feeling very powerful considering that ZNBC relies on his postings.

  11. New Substitute President George Chellah may be a good journalist, but he is certainly neither a good politician nor a good economist. Much of what HH is saying is way over Chellah’s head. Watch his infamous Facebook and see how is going to respond.

    • If he has any nuts between his legs then let him respond, on FaceBook, and judge the real mood of real Zambian people who will not hide behind pseudo names. Equally we will know who is determined to retard the country’s development.

  12. New Substitute President George Challah is clearly a poor general. Not unlike retired president Michael Sata, this new guy does not have a single strategy on the ground, and yet we are still a long way off, before injury time. Who is really the new coach of this miserable PF team?

  13. This really is a banana republic – Government, oppositions & the citizens included are all a bunch of uncultured immature creatures who have concluded that treading insults on an on-going basis is the way to progress! It is shameful – what chance has Zambia got of competing on an International level for anything?
    50 years, 50 focking years after independence we can not find one, just one fecking human sensible enough to run a country?
    What a bloody travesty!

  14. Since when did currency become a measure of economic strength?
    AND YOU PLAN ON VOTING THIS CHAP TO BE YOUR NEXT PRESIDENT?

    You are all mad!

    • @Osward: You probably were in hibernation or in coma when not too long ago the economy of Zambia’s southern neighbor nose-dived and ended-up kissing the floor of the bottomless pit. Ask anybody who was alive then to tell you what happened to the currency of that country. Yes, the strength of a country’s currency is a strong and key economic indicator. It’s that, together with fluctuations of the stock market that are watched closely on a daily basis.

    • NO WAY! A currency is determined by monetary policy, e.g. interest rate & other monetary accommodation measures such as QE!
      In the case of Zimbabwe, shortage of goods drove inflation up so much the gov. had to rebase the currency – hence more zeros & more zeros being put on the same notes otherwise you have to carry buckets of the money!
      It is entirely possible that the Zim Dollar could have retained its xrate had the gov not rebased. If xrate was a measure of economic strength, then Liberia will have a stronger economy than Japan & UK will have a stronger economy than German, France, the USA, China, Japan among others & we know that is not the case.

      I fear for a country were people are so un-informed, it is no wonder any fool comes along and take you alshopping!

    • @Osward: You could be articulating textbook theory. For your information, there are many other textbooks out there, the one you are using being only one among so many. Notwithstanding, I must congratulate you for being a scholar, if at all you are one.

      The fact of the matter, however, is that at Zambia’s independence in 1964, the Zambian currency was stronger than the U.S. dollar. Can you explain to me how Zambia’s monetary policy led to the depreciation of its currency to the extent that, not too long ago the country had to rebase the Kwacha by nocking off, not one, not two but three zeros?

    • Same story as Zimbabwe actually – which is why some predicted the demise of Zimbabwe as far back as 1993! One scholar said then Zimbabwe will go the way of Zambia & may even be worse & what do you know? African countries are so predictable to a discerning mind! After the ZMK replaced the Pound, it was pegged against the dollar just like ZWD! Through the 70s, 80s & 90s shortage of goods drove the inflation high, the gov had to print new higher notes effectively rebasing the ZMK (rebasing is not just removing zeros, you can also add zeros) The RZMK became worthless (if this doesn’t happen countries can become dollar millionaires by just printing higher value notes)! The real ZMK probably had the same xrate but you were not using the real ZMK anymore! Again xrate is NOT a measure of economy!

    • Contrary to your assertions, the exchange rate is an important determinant of a country’s economy. It plays a vital role in a country trade, which is critical to it’s economy. It’s for this reason that exchange rates are among the most watched, analyzed.

      Did you know that a higher exchange rate can lower the country’s balance of trade? The greater the demand for the country’s exports the higher the revenue from exports and the higher the demand for that country’s currency and the higher its exchange rate.

      The exchange rate of the currency in which a portfolio holds it’s investments determines that portfolio’s real return. Consequently a declining exchange rate decreases the purchasing power of income and discourages investment.

  15. Countries seriously plan for there currencies to be RESERVE currencies A currency that other countries should hold in reserves and tradable A currency is a mark of a countries economic strength and accomplishment We also need to plan for the kwacha by indirectly or directly the way we manage our fiscal and monitory policies

    But then criticism and advise give like we have seen on capital hill on the round table shows good leadership with sincerely towards long-term national developmental objectives

    Those of you who watch and plot the direction of the Kwacha against policy gains and other currencies You will observe the downward trend and gains in basis points for the future

  16. What is difficult in sharing and discussing national issues without partisan but rather national interest at heart and come out of the meeting shaking and smiling rather than estranged marriage

    Countries like China Us and others are enganged in serious RESERVE currency ways and plan seriously thirty yrs to fifty on how there currencies would be why not US as Zambians always being parried to a rand or pula like an “inverse floater” and always watchin what happens to other currency unlike us taking the lead to paly off our gains

  17. Please tell us ur your plans for this country sir when you come into power.Am tired of listening to critics everyday from oppzn leaders

  18. lets work on fundamentals like the monthly BOZ rate committee avoiding the random walk theory and speculative movements of the Kwacha often parried or in inverse floater to other convertibles Fundamental ground for gains or losses long-term planning for the Kwacha

    Keep it up committee and explain in detail to remove speculation not simply announcing the rates at the same time planning for the Kwacha longterm leading the way not lagging to watch the rates and then react or rather passive or active especially the market inefficiencies in our economy????

  19. By the way can someone please educate me about this famous State House Facebook page (sorry I don’t do ‘Facebook’ myself so I don’t know its mechanics): but can people post messages on it and appear instantly without being censored? Or do comments first have to go to the owners and the powers-that-be for approval before they can appear?

    Because if they appear instantly and uncensored, it would be yet the only reason I would want to join Facebook to post constructive ideas on their Facebook page.

    • Been there dude, there is no censoring but you’ll be lucky to have your objective comment seen through the avalanche of ‘praise and worship’ postings from mostly people of a certain tribal persuasion.

    • Thanks @ dudelove… so you mean it’s not worth it to go and post an objective comment? I thought most people are critical of this govt judging from the LT and ZWD comments. Oh well!

  20. Next time you hear a commentary on rates ask the real reason behind the gains and losses especially out of the normal and try to forecast and see given current policy gains and paradigms

    Normal a currency that is efficiently laid on solid fundamentals will move margins below 50 kwacha and less and not more than 100 kwachas or more because that indicates something out of the normal and could be either speculative or some shift in fundamentals

    Chart the rates direction and confirm to act and address the shock for long-term.
    Do not simply accept rates commentary without looking at fundamentals behind Ask the reason why and see if not way and confirms your…

  21. thats my president… can’t wait for 2016… honestly how do you run the country via face book ? really guys zambia is going to the dogs. lets vote out these monkeys before they come up with other bogus and $$$$pid ideas.

  22. This is a very well articulated point. If only we can have a siting president articulate issues like this and not insults then we would have some semblance of a normal state. Sata should learn very quickily That being a president of a nation you do not own the staff or your ministers. He should try hard and learn some manners not to insult his fellow public civil servants political or not.

  23. ZNBC IS VERY BIAS AGAINST HH.THEY READ NEWS OF OF CADRES ATTACKING HH,BUT THEY DON’T GIVE HH AN OPPORTUNITY TO RESPOND TO THOSE ACCUSATIONS.THIS IS NOT OF MEDIA BUT PUBLIC BROADCASTER WHICH SHUD BE FAIR AND BALANCED.SHAME ON YOU DG

  24. TO ALL REAL CLERGY IN ZAMBIA (PASTORS, PRIESTS, PROPHETS)
    Come up together as one Family of God with a serious program through which you are going to:
    1. Through God’s instructions secure an isolated area for massive prayers
    2. Through God’s instructions conduct prayer and fasting specifically directed at asking God to give us through Jesus Christ a people-centered Republican President
    3. Ask God through Jesus Christ to unite all politicians through the Holy Spirit
    4. Ask God through Jesus Christ to expose all anti-Christs in the Zambian Government
    Get united and rescue this nation from the rule of the Dark Kingdom. I am not out of context, but all our socioeconomic and political problems can only find remedy through, by, and in Jesus Christ. To Real Believers in Jesus Christ…

  25. Yaba…always quarreling. we tired of nonsensical talks. Talk development please. Tell people how you are going to strengthen the Kwacha than always spotting mistakes in your friends while yourself has loads of wrongs on you.

    Peace and Prosperity to Mother Zambia.

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading