The World Bank has said that Zambia is poised for significant economic development this year if the priorities which President Rupiah Banda outlined in his speech to parliament yesterday are implemented.
World Bank country representative, Kapil Kapoor, said President Banda addressed all the priority areas in his speech, adding that it now remains for government and other stakeholders in the development process of the country to implement what was said.
He told ZANIS in an interview that government and its stakeholders, including the cooperating partners should now put in place effective mechanisms that would drive the country into economic growth.
He said that despite being affected by the global economic crunch, Zambia has no reason to remain poor after all important economic areas were attended to.
Dr. Kapoor was commenting on Mr. Banda’s speech after the ceremonial opening of parliament yesterday
Meanwhile, Finland has described President Banda’s speech as realistic, describing it as one that would help maintain the economic development momentum Zambia is recording.
Finnish ambassador to Zambia, Sinikka Antila said the fact that the President noted that 2009 would not be an easy year for Zambia was reason enough for government to work extra hard, for the country’s economy to remain stable in the facet of the prevailing global economic meltdown.
Ms. Antila said the President pointed out important issues that would enable Zambia counter any negative effects of the global financial difficulties.
She said poverty alleviation, enhanced entrepreneurship and the fight against corruption, are the necessary ingredients for economic and political stability, in the midst of world financial crisis.
She said she was particularly happy that Mr. Banda spoke strongly about the issues relating to climate change, which she said were a major stumbling block to the development of the country.
Yesterday, Mr. Banda disclosed his government’s plans to counter the prevailing global economic challenges and enhance Zambia’s development agenda through improving the priority sectors of the country’s economy.
In his speech, President Banda said Zambia had no reason to remain poor, because she is endowed with abundant natural resources, which if property harnessed, would enable her resist the current global economic challenges.
ENDS/KSH/PK/ZANIS
are you sure?
Empty tins make a lot of noise…lets see if these chaps live up to their words:((
Luapula fish bika commentua kaili. here is an issue for tangible discussion. no Orlando today
We’re good at talking & with less action. Even Gaza looks developed than Zambia. Let’s hope RB will turn Zambia’s fortunes around. We need a national airline if our economy is to grow.
The speech being referred to here was not even written by Rupiah Banda himself,worse still he did not even understand it hence implementation will be a very difficult process unless serious technocrats are consulted and a way forward charted by them not the politicians. Nothing much will come from them apart from campaigns
ofcorse we are rich in natural resources
Kapil Kapoor better tell the developed countries not only to stop robbing our wealth but to restore sevenfold what they already plundered!
Zimandola One
The world Bank through its representative to Zed said Zambia has no reason to remain poor.He further confirmed that Zambia is poised for significant economic growth this year.
I 100 percent disagree with his statements ,As a nation we have not built enough social capital to stimulate our capabilities and make good choices and decisions that will lead to meaningful development.His statements might be true theoretically and not in light of practical international development practices.Further more ,the country is experiencing the global financial crisis .The copper prices have been hit by declining export demand in the developed countries and major emerging economies.
The truth of the matter, friends, colleagues and relatives, is that the MMD has run its course. The truth of the matter is that Zambia is now ripe for a 1991-type revolution. We cannot have VJ’s generation of the early 1960s, with the complicity of Dan Kalale, still call the shots. They are still in the independence liberation mode of thinking. Zambia needs a leadership ready for the challenges of the 21st century, of the digital era. Analog thinking yatipaya, please.
#8. Luapula Fish
I have to disagree with you. The economy of Zambia stands to grow this year. In fact it stands to grow very well if harnessed properly.
The Bank of Zambia recorded that non-traditional exports accounted for about $900 million USD last year. This means exports that are not in the copper sector of the economy. Who knows, maybe this year it may be higher.
Zambia stands to gain in tourism as well. Livingstone infrastructure increased by more than 50% last year. ZAMBIA has been ranked number 44 on the World Tourism destinations to visit this year by the New York Times and number 5 in Africa. [tbc
SHAREHOLDERS in Luanshya Copper Mine (LCM) have announced a complete pullout of their stakes in the mine.
The shareholders made the announcement during a shareholders’ meeting held at Pamodzi Hotel in Lusaka last Tuesday.
“They have pulled out because they are saying that they are not making any profit from the mine,” said a highly placed source.
The source said the shareholders held two meetings, one with Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) and the other with the LCM board.
The source said the announcement was made during the meeting with ZCCM-IH. MAKANI YASUZGYA CHOMENE SONO.
CONT’
Zambia has a lot problems to deal with before we can attack the real development issues confidently.The people have lost confidence in the government leadership,this makes it difficult for the state to utilise the statutory instruments and apparatus to foster the much needed economic development.No country can ever devvelop without the support of the people in the implementation of the developmental projects.Thus Embeded autonomy is a basic and important component of a developmental state as it gives them enough autonomy to apply the state instruments and achieve desired economic result.Most of the countries developed at the time the state had more autonomy,and recently South Korea
cont from #10]
Under Reader Recommendations, Zambia is ranked 25th on the world map and number two in Africa. The Bank of Zambia has also approved two new banks. Eco Bank and First National Bank.
If govt invests in agriculture like was said in the speech, Zambia stands to gain from that as well. Also, the China-Zambia relationship is important to tackle the global recession. China is the only economy that is growing and has received a slight recession. The Chinese economy is growing at 9% and has by-passed Germany and is now the worlds third largest economy. In two years, it stands to pass Japan.
Lets also not forget copper prices stand to rise in the near future. Many OECD [tbc
THEN GO BACK TO ZAMBIA AND MAKE CHANGES. YOU HAVE RUN AWAY FROM YOUR COUNTRY AND THEN YOU ARE JUST MAKING COMMENTS.
AT LEAST YOU ARE KNOWLEDGABLE ENOUGH TO GOVERN YOUR COUNTRY ZAMBIA. COME ON GUYS. DON’T JUST GO OUT THERE TO MARRY WHITES AND FORGET ABOUT YOUR COUNTRY.
Kapil Kapooria is MMD Cadre. He has no brains atall. Its empty vessels creat too much noise
cont from #13]
countries are investing heavily in infrastructure development so as to tackle the global recession. The price of copper stands to rise due to these infrastructure development as copper is one of the important components in infrastructure development.
So yes, Zambia has the ability to withstand the effects of the global recession.
I would like to believe this and it surely can be done if the President genuinely has peoples best interest in mind. Its mismanagement that has led us to this economic crisis, and it runs back as far as Kaundas time when he was busy sending money to south africa to help them out… Where are they now compared to us? Nigeria is supposed to be the richest country in Africa, but ??? Greedy for power!
My opinion, Zambia wont improve unless we get fresh brains in the front row!!
Free Capitalist
You have got all the reasons to disagree with me.But I can rest assure you that no economy under the sun will perform tromendious results looking at the global economic happenings.For your own information the $900million achieved last year is not something close to achieving the economic growth record. The FDIs are expected to decline and foreighn aid from the western donors will adversely be affected.If anything I predict Zambia switching to IMF for the Standby Arrangement Facility to off set the BOP in 2009 .Dont forget that the WB representative is at work and has to issue statements that will benefit the organisation
don’t be over critical,give +ve attributes when they’re due.the speech was encouraging and the old man sometimes needs you and me to say-yes mr presido that’s the way forward.some of you even dream condemning RB,yes do so when necessary.even yo child if yu always say bad things about him,psychology teaches us that such a kid tends out to do exactly what he’s told to do,positive attributes are a key to motivation and ultimate push to our president.donnot be in denial,he’s the presido,the earlier yu realise that the better fo the nation.
Luapula Fish Good job , I like the way you argue out your points. keep the blogging spirit alive. I will be in Nchelenge this Summer for my research on the shores of Lake Mweru. When are you planning to visit Luapula boss?
It is such a pity that most bloggers who are zambians have very little faith in our country.how many of you have even been there in the last couple of months.Its is this type of negative energy that hinders development.To me if a good bank like FNB has seem it fit to operate in zambia then surely there is something in zambia which unfortunately zambians dont see because there eyes are clouded with negativity.
#21 VoR But what about a Togolese bank? We could as well have a bank from Chad on our doorsteps.
Ba Chibwe tekanyeni, It does not mean developing ones country one has to practically live there,NO,NO. This is a globalized world where an individual can operate from any part of the universe and make tangible progress to her/his country. Mwiponta Mukabwela the saying goes
#22 That as well.The coming of these banks indicates that they are performing well and can afford to expand there operations into other countries.So far the only zambian business that has been able to expand into other territories is zambeef whose performance even locally is laudable
I DONT BELEIVE RB WILL DELIVER,JUST LOOK AT THE CAMPAIGN PROMISES,HOW MANY SEEM TO BE REALISED,LATER ON NEW BUT SIMILAR EMPTY PROMISES.HE EVEN TALKED OF A NEW MINISTRY OF FIHERIES AND THE LIKE…ONE WONDERS,INSTEAD OF REDUCING MINISTRIES,HE WANTS TO INCREASE.ANYWAY WE ARE NOW USED TO THIS NONSE.
The New World Order is being forged out of intentionally creating chaos and offering phony solutions. The global financial crisis was created by Alan Greenspan the former Federal Reserve Chairman by cutting interest rates to levels so low that it facilitated reckless borrowing and lending. Simultaneously, George W. Bush pushed the concept of an ownership society to encourage people to engage in irresponsible behavior. This created an enormous bubble in the housing market which resulted in the crash that we are experiencing right now. The housing market crash has in turn caused devastation in financial markets around the world
A rich country wid poor people…it just can’t be right! And it is not becah we are dumb, but a rob dem rob we.
I have read the most valuable comments from my beloved fellow bloggers,’voice of reason,zamandola one,luapula fish just to mention a few.
In addition i think our leaders need to revise investment policies screening of investors should be improved (BOGUS OR NOT).
:d/ .We are too much into letting investors use the already existing infrastructure etc.We are not really letting investors do business under the same roof with locals.It’s a big insult to Zambia’s social-economic growth when we let foreign companies operate 100% without gov 59% share or local local investors’ involvement.These are the simple principles by which the Chinese have become a force to recorne with.
Go Zambia gooooo!
So that explains why how politicians are rich dudes!!!!
Is there an indigeneous Zambian coming doing fine? Would Zambeef be classified as an indigenous Zambian company?
Goodmorning Jamaco, how are you today?:)
I’m just enjoying the mild sunny winter & listening to some jovial music from Zed, ati:
“Sindine chinsimbi, nili na ma feeling naine chima nibaba sometimes
Sindine chimwala awe, olo chimutengo ca Mango…”
Ha ha ha:))=))
It is more easily said than done,thats the problem. :d
Oh Damn i meant # 33 .it is easily said than done
Up to now Zambia has not yet come to differentiate between a real and unreal investor.We only give them our resources and exempt them from tax for a good number of years.As soon as they are done with that,they are gone.We just trap our own selves into poverty.Lusaka is becoming a village now.Health services are unspoken of.Our hospitals are in South.Africa even for emergencies which need a “JUST NOW ACTION”.Mother Zambia,,,for us to grow we need to put first things first.Thanx to the new ophthamology hospital in kitwe.Can someone update us on the cardiovascular surgery hospital once mentioned in about 2001 to be openned in Lusaka show grounds?How about the one in Chongwe?Operating?
#18. Luapula Fish
I do not think FDI from China will decline. There are basically two main economies that stand to perform well even in the midst of this global recession. China and India. China and India are still growing mainly because they have economies of scale and a large population. They also boast having one of the worlds largest reserves which they plan to use prudently during this global recession.
If Zambia plays its cards right and engages in trade with the two economies, we will be ok. We have already allied with one country which has a population of about 100 million+. Tell me, why would the WB issue such a statement if it did not hold any ground??
zed or zedian cu made a lot of money during last few years’ resources boom. Who really benefited? And now people are being asked to ‘re’-tighten the belts. The belts have never been loosened in a long while!
Reminder the first performance evaluation on this Govt based upon the 3 month probation is Feb 1st 2009. Let’s assess their performance objectively. The second one will be 1st June 2009 based upon the 6 months probation then Zambians need to decide. If the performance has been positive then we shall continue with yearly appraisals due on the 1st of November each year untill 2011. These performance appraisals should be done on all Govts that will ever rule Zambia. We need to hold our Govt’s accountable. This attitude of always buying time should be rejected, even in a company there are performance appraisals to assess whether an employee is a liability or asset. God bless Zambia.
Bravo Free-Market-Capitalist. Well spoken you are. World bank is right, Zed has no reason to be poor. Yaddy yaddy yadda. Fimofimo. I still maintain a growth of -2% to 3% for 2009. Its called being realistic. SADC, Zambia inclusive is facing a serious leadership crisis. Rhetoric is the order of the day. China is not a credible partner. Despite her advances, we should as Zambians (read liberators) continue to raise our finger at the red state for its human rights record. Financial crisis is real and am seeing it at my workplace. Things are tight.
Whether a speech is good or bad matters less. All what people want is good results to reduce on the poverty levels. Its very true why do we always want to use old chaps like VJ. what visible and tangible results have Zambia reaped from this man can someone please tell me.
Zambia need economic leaders and not political economists. RB should learn to listen to the cries of the people, besides, can someone please tell what RB had achieved since he came into the office. The man is a talker.
Richness yapa kanwa! Most zambian people have always suffered and will continue to do if the few people who “controlls” everything continues to be selfish and keep on eating ‘amasuku pamitwe yabanabo’ just look at the blown up bellys like nine months pregnancies. Efyo bakula ponena one by one nama stroko, umulandu waku tunkila amafuta everyday. Share the richness with the rest of those who deserve the title Zambian.
Please PF cadres, take a break and reflect, RB has shown one thing to me. He is capable of delegating. He knows he is an old man but he delegates. I am yet to see the other side of him. How he reacts when people disappoint him. Then we shall know whether he can lead effectively or not. So for now, let us give him time. A totally agreed with him when he said get the maize from the remotest of places and let private businessmen buy maize in the districts. That makes a lot of sense. However, what i would want to see is that food is not only maize. Even our mangos, pumpkins, water melons, even mushrooms are also food. So if govt can buy all those things then we are moving.
Obviously, the world can’t get enough of Africa’s wealth. Having stripped us naked during colonial times, the same forces now have us firmly gripped under their paralytic policies and institues of economic oppression like the IMF & the World Bank.
I believe that we need to move away from our dependency on our leadership, because they have failed us enough. I think our collective welfare will only be determined by our individual input. I think we need more African-run NGOs & other initiatives.
At the last international gathering of global players, not a single African country was represented! Analysis of the problems alone won’t help. Let’s get busy!
Zambia risks of being relegated From the poorest countries league to the Chaotic Free Fall League where Zimbabwe is ka. [-(
Totally agree-you dont need to be physically in Zambia to contribute to Zambia’s developement.We all need to do our best to help Zambia develop.
What we need to stop is acting like cadres everytime.Zambia has had enough of cadre mentality which does not develop our country.It time Zambians contributed to national development and stopped being armchair critics.I work abroad and married to a white person but that does stop me from contributing Zambia’s development.I have just returned from a mission which took me to a number of African states including my mother Zambia.I always feel at home when I land in Lusaka.Come Zambian,let us stop being pathetic and start developing Zambia.
I do not see how Zambia can improve in the short term as barely two years after the Debt write off, we are already back to borrowing and not just from the West, but from China even. The purpose of the debt write off was to accord us a clean slate so that we can stand on our own feet. Entry of foreign Banks into Zambia some of them from Nigeria may just be a channel for foreign investors to externalise proceeeds from ventures in Zambia and a offer quick exist should things go sour, there is no benefit what so ever to the common man.
Yes, Zambia has no reason to be poor, but only with elimination of theft, corruption, vote rigging, bribery,voter apathy, begging etc. and bad leadership can we move forward.
its good hear that because i was thinking why Zambia was about crisis around world, well i see Zambia the same before this. Yes no need to be poor. :d/:-?
#22 Please you should learn to read widely otherwise you’ll continue wallowing in the poverty of ignorance. Ecobank is not a Togolese bank. It is just headquatered in Lome Togo. It has assets worth $6.7bn.
Zambian bloggers are weird. It is always a litany of complaints. It is not advisable to be in the company of Zambians otherwise you come down with depression. I have never come across a nationality that has this much negativity as Zambians. Zambians suck!.
Ukubwata bwata Lionse tamwakwata ifya kuchita?
#19, Atumbuka Bull, monile, muli uli pela lelo dada?, I have a confession to make to you and you alone. Cutey na Dixie chick ni ba moza (one and the same) ahhhah.
Ivi mukuyoboya ni va nadi chomene.. anthu omanya yayi mbwenu vinthu viwemi na vinthu vinandi.Ba nyake ni vimboholi waka.. pakamwa kuyowoya vithu vilijemo na muchele yayi. (its true positive attributes are a key to motivation) **==
At #52, Sorry meant na vinthu viwemi navinthu viheni.
are you sure
In Zambia, we lack technocrats: people who can transform the theory into practice :((:((:((:((. In normal economies, RB as president has done his job: sert forward the directiona and guidelines. Implementation is for technocrats and these are not available in Zambia :-??:-??:-??
4. chingola
Your reasoning is amusing,do you really know what you’re talking about,ya ya ya kwena abena Zambia umusebanya eh,eeish!!
2008 will always remain a sad year in the history of zambia , as for 2009 lets have hope . I am a strong believer in divine workings.
We are poor because of leeches such as VJ period