THE business community in Zambia said President Michael Sata’s death will affect the economy in the short-term but that the long-term targets will remain on course.
The Economic Association of Zambia (EAZ) said it anticipated that the death of President Sata will not affect the country in any way in the long-term while Private Sector Development Association (PSDA) said in the short-term the development will bring about a lot of anxieties within the private sector.
EAZ president Isaac Ngoma said that it was expected that in the medium term, the economic fundamentals would not be affected.
“We do not expect that the death of President Sata will disrupt the country’s economy. We anticipate that even the Kwacha will not be affected in any way,” he said.
He urged the business community and the national leadership to remain focused and manage national affairs with integrity during the transition period.
“We would like to urge all the visitors in the country and investors in particular to remain calm, focused and reflect on the passing of our President and shaping the future of the country,” he said.
President Sata 77, died on Tuesday in London.
Mr Ngoma assured the business community that the business operations in the country would not be disrupted.
He urged foreign investors in the country to move on with their business plans as the economy
had remained in safe hands.
PSDA chairperson Yusurf Dodia said in the short the death would bring about anxiety within private sector as they would be concerned about the policy and direction of Zambia’s economy at this time.
He said it was important for Zambians to respond to the passing on of the President in a very strategic and constitutional manner, so that the nation could be run in stable way.
Mr Dodia said currently many African countries were going through challenges due to political instability but that Zambia had always remained true to provisions of the Constitution as experienced after the death of late President Levy Mwanawasa.
“Time has come for Zambians to be mature as after reflecting on 50 years of independence, we have the capacity to manage the transition from one President to another without shaking the foundations of our economy.
“We pray that all Zambians including the leadership will act with wisdom and constitutional guidance as we go through this difficult time in our history,” he said.
Its good riddance in fact things will even get better
I am sure you have never lost anyone close to you. Play that God keeps it that way.
kumwesu president musungu Waumfwa
Let us just mourn our president and quickly hold elections to kick out these uncivilised monkeys out of government. Some of us are tired with their dullness. Zambia has never had such a confused bunch in power since independence. They just know how to practice tribalism and steal from government. I don’t even know what they keep saying that the economy is not affected because it has been affected from the first day these monkeys came into power. Look now, farmers have not been paid up to now, the country is in auto-pilot, civil servants now can go for months without being paid and this now happening for the first time in 15 years! I’m fed up with them.
Your hatred will kill you,wake up and be counted.Who doesn’t know who the real triblist are?The first thing you should do is to change yourself to someone so useful before you think of changing the government.The goverment(another tribe) will not come to your aid even if you change it.Change your attiude and you will see what the government can do for you otherwise you remain a cry baby.And remember to work hard.Can’t say more.
Can someone tell what qualification does Doodia posses for to comment on economy issues. The chap is an alarmist. As Zambian’s we have been there before. thus, the demise of Mr. Sata was not shocking but expected. we all saw that the head of state was not fine. it was a matter of time. so what setback are we anticipating bwana Doodia. Stop inciting people, lets mourn our president and we move on.
This Doodia is hallucinating. I just wonder why we even tolerate such people with such names in our country to the extent that they even become MPs in Monze and Lusaka Central! The Presidency is just so overrated in Zambia. We have had no President for almost a year now but our people are still resilient. In a President we just created a semi-God who dishes out favors to the most undeserving people through sycophancy to milk the Treasury. Our mighty Zambia has shown that it can function without a President so stop telling us the economy will suffer when you just want to sound relevant and yet we know you are not clairvoyant. Tell us your credentials first that make you say this otherwise you are just guessing like a layman. Leave issues like this to the real experts.