The Secretary to the Treasury in the ministry of Finance has released a statement detailing the economic performance that the country went through under the leadership of the late President Michael Sata. Notable among the achievement is the progress made towards the diversification of the economy with agriculture exports exceeding US$1 billion dollars, the highest in the history of the country
Below is the full statement
Republic of Zambia
THE DEATH OF HIS EXCELLENCY, MR. MICHAEL CHILUFYA SATA: STATEMENT ON THE ECONOMY BY THE SECRETARY TO THE TREASURY Mr. FREDSON YAMBA
Countrymen and women, Tuesday, 28th October 2014, will forever be remembered as the day when our President, Mr. Michael Chilufya Sata, bid farewell to us to rest in the eternal presence of the Almighty. His vision was anchored on inclusive growth for all through sustained high rates of economic growth, job creation and poverty alleviation. This is the legacy he has left with us.
Under his able leadership and guidance, the economy grew by more than 6 percent per annum, well above the Sub- Saharan Africa average, while inflation has been contained within single-digits. The external sector, especially non-traditional exports grew significantly with agriculture exports exceeding US$1 billion dollars, the highest in the history of the country. This reflects his will for the country to diversify the economy.
As Zambians we also witnessed an unprecedented focus on capital investment in social and economic infrastructure, particularly in health, education, roads, rails, and energy sectors. Recognizing the high unemployment levels in the country particularly among our youth, the Government did put in place an Industrialization and Job Creation Strategy. This strategy is bearing fruit as seen through a sustained increase in additional jobs and incomes, which is important in lowering poverty.
As a mark of growing investor confidence, Foreign Direct Investment has continued to grow reaching the peak of US $1.73 billion in 2012, the highest in 12 years. The investments have been broad-based-covering Government’s priority economic sectors, namely agriculture, tourism, labour and export-led manufacturing, mining and construction. This is a reflection of the improved investment environment in the country, made possible by policy consistency and workable pro-private sector strategies.
It is in this regard that Government would like to re-assure the nation, investors and cooperating partners, that strong macro-economic policies underpinned by the need for high sustainable growth, creating jobs and reducing poverty, will remain as our focus. As a nation, our economic policies will continue to be sound irrespective of who takes office. This is on account of a strong bedrock upon which the economy is based. There is no disagreement amongst our citizens on where we are and where we should go in terms of economic development. This consensus will provide stability in terms of economic management going forward.
I wish to appeal to all economic players, to remain calm as they execute their business activities and to desist from speculative tendencies that may cause instability in our economy. May I assure you that the Government has put in place stringent measures to ensure smooth operations and safety of public resources and assets. Let me also assure you that the Government will honour all domestic and international obligations, contracts, agreements and relationships. We will also remain amenable to external reviews from rating agencies and surveillance from international organizations such as the International Monetary Fund, and further fostering our relations with other multilateral institutions and cooperating partners. Dialogue on important national issues that border on the economy will be encouraged and accommodated.
Countrymen and women, when we lost our sitting President in 2008, we, as Zambians handled the affairs of the nation with firmness, maturity and unity. There is therefore no basis for panic by any economic players both foreign and domestic as the situation will be handled with greater firmness, maturity and unity.
I thank you, and may God continue to bless mother Zambia as the nation mourns our beloved President.
Fredson Yamba
Secretary to the Treasury
MINISTRY OF FINANCE
What he did in 3 years was admirable I can only compare it to the UK
I am absolutely upset and angry as it seems maybe it is true he has passed on
His legacy will never be surpassed
I miss you MCS
Thanks
Rankings President
1) MC Sata
2) Kaunda
3) Chiluba
4) Banda
5) Mwanawasa
In Terms of long term legacy.
He is the greatest Zambian if you ever did because he is the only president who had the best experience heading into an election
He suffered was jailed because of you and me.
He has changed zambia forever
If it is true he has [passed on , I will always miss him
I hope the constitution is amended to allow GS with Mulenga Sata as Vice president. I am hurting all my body I cant eat sleep or use the toilet, no make up nothing. I hate myself as I feel I could probably have helped
If this is true he has gone I don’t think the country will ever recover it may collapse the way i see things
Why us zambians, we had the best ever man at the helm,…
This is a good leadership call. And Bwana hon minister you have done justice to our nation. May our good Lord be with you and the nation.
Too bad Sata died young while enjoying all the trappings of being an African President.
To be honest Sata will go down in history as the worst leader Zambia ever had. Worse than KK he wanted to get deported to Malawi. The man had no remorse what so ever. He mocked his opponents to death and thought he was invincible. Thanks to Mwanawasa, who saved his life, otherwise he would have died a long time ago.
Sata presided over a government that created disastrous ways of running the country. Himself was a disaster, his cabinet full of f00lish idoits, Agricultural policy -disaster, Monetary policy -disaster, Law enforcement agencies -disaster, Health and safety- disaster , Health and Education – disaster.
Every aspect of governance under PF is a total disaster.
Only HH can restore…
PF is so much under pressure. This message is purely released as a campaign message even before it leaders is buried. How desperate is this?
Apparently PF has been split up into three groups. There is Mmembe’s camp, Lungu ‘s camp, and Bemba clique under Chikwanda and Kambwili. It will really be interesting to watch how they will tear each other apart in their struggle for power.
I will rejoice and drink to it when this comes to pass soon after the old man is buried.
And how much dept has he accumulated during his time in Office ? All you mention is easy to do with borrowed money.
Zambians are indeed easy to dupe.
He was arguably the greatest resident I have ever known
A man if it is true he has passed on I will miss dearly
I feel like someone stabbed me in my stomach
I am hurting people
Thanks
Un opposed. Facing reality. We have WHITE Presido. Brilliant comments. I am also speculating if it true HEMCS could die. I wonder. WHEN A VEHICLE IS TAKEN TO THE GARAGE IT DOESNT MEAN IT IS DAMAGED. LUNGU NEXT PRESIDENT.MULENGA SATA VICE PRESIDENT. GUY SCOT AMBASSODOR TO UK……………………90 days Legacy. Bye elections 90 days. More money 90 days. Constitution 90days. Phd Mushota advise us we blank………….What is your komenti
PF is full of crap; the only thing sata and his culprits have achieved is destroying our economy and chewing our funds over lavished lifestyle of ministers; such people deserve to go to hell just like their leader “SATA”; Evans Mfula at Evaduco Reporting live from lusaka and hiding from kitwe boys
… then you are a FOOL!
No mention of debt which has skyrocketed to $4.7 billion in just 3 years. And FDI peaked in 2012 as a result of promises by investors made while RB was in power. Who instructed this cadre, Yamba to write such?
I salute you MR PRESIDENT for the good things you have die for us all Zambians. You ll be remembered for the wonders you left for us all. Mushota truly you had love at heart for our late President. You made corruption to shed a miles away REST IN PEACE HERO KING COBRA. we ll miss you so much.
Really? does a person who takes an entourage of 40 for site seeing mean well for the country ? I doubt…
Really? does a person who takes an entourage of 40 for site seeing in America mean well for the country ? I doubt…
Just summarize the article and tell us that Zambia borrowed heavily to build roads. End of the matter. Why praise a man as having been serious with investment when we all know that he had to borrow heavily to cover up for his administrative failures? Even a street kid if given a lot of money can do wonders.
God has shown me that HH will be the next President of Zambia. He will continue with the programs started by Micheal. People of Zambia hid my prophesy .
Mushota you`re indeed an i.diot.
What a great Man we have lost in MCS. He was my inspirational, I admired his leadership skills and he was my mentor. Truly I will never see a fearless person in Zambia like him who always stood for the weak in society.
He was a gallant man full of potential to develop our country. I only pray to the almighty God that he is going to guide us through this difficult time.
Rest well king Cobra!!!!!!!!!!!!!!!!!!! till we meet again.
Mushota wrong, in terms of long legacy, see
1) Mwanawasa
2) Chiluba
3) Banda
4) SaTA
5) Kaunda
I also think HH will have the best legacy if given the opportunity, Kabimba might do well as well but little compromised. The choices at hand are good, I love both Kabimba and HH so it does not really matter for me. Kabimba can finish what Sata started and maybe HH can take over in 2016 BUT if Kabimba does not lose touch like Banda did the he can rule until 2021 then HH can lead after 2021.
I agree with you Carrs on the rankings but Kabimba coming in is an absolute NO, NO! The guy is dictatorial, corrupt, without vision, etc. This guy was abusing public resources before he was even appointed a Minister. For me, to say I hate this guy would be an under-statement.
EDGAR LUNGU FOR PRESIDENT.NO ONE IN THE CURRENT PF CAN MATCH THIS NOBLE MAN,NOT EVEN GUY SCOT.
Blago! keep on dreaming. The PACT they had was the best see HH in state house but because of selfish advisers, Ulabeja muusa!
The man did nothing to be admired. He was a tribalist and violent man. what legacy are we talking about. let us be truthful for once. He was the worst president Zambia has ever had and will ever have. yes the only thing to remember are pangas he introduced in politics. what kind of a democrat was he, blocking all his opponents. Peace will now reign Zambian politics.
Such pipo like Mushota their lack of proper education is so apparent in their flippant comments. Zambia is not a farm belonging to one family. The people of Zambia will decide who their next President is going to be. At the very least Mushota you should be posting about the dangers of chain smoking so that young people can desist from this. In your tribal blindness even if the late Michael Sata were to urinate on you and tell you that it is raining you would still believe! Please stop paroding your bullshit because Zambia is democracy and we shall not be governed by a white man again. You should have gone to UNZA and they would have taught you what analysis is all about via ADS 101. We are sick and tired of your uninformed comments. If you are mourning keep it to yourself.
Iwe Fredy yama, Are under the influence of weed or wat…………………
Dont lie…………….
Very incompetent statement. I expected a statement with aspects such as ;
Number of roads constructed in every province, number of universities, schools, hospitals/ health centers built in each province under Sata.
Unemployment levels in each province, price of corn meal, electricity/gas, and other commodities under Sata.
Democratic values, culture of institutional theft and corruption, tribalism under Sata.
I doubt if anybody can come up with a rating performance that covers the aspects that I have outlined.
God gave Sata chance to lead this country, RIP.
Which Economy is Yamba talking about ?
The PF with Sata at the helm negated all of the progress put in by Mwanawasa and RB. The Kwacha took a nose dive, GDP slowed down to level last witnessed in the chiluba era, Inflation and foreign debt grew for the first time in 5 years, farmers and civil servants stopped being paid.. the list is endless.
Yamba mentions FDI to have been $1.73 billion in 2012 but this was due to the policies put in place by RB. Why isnt Yamba quoting figures for 2013 and 2014 (preliminary), deep into Sata’s rein.
The PF was a mistake that should have never happened..
Once a liar always a liar. PF are professional liars. They lied in sickness and continue to lie even in death. They lied during the campaigns and still continue while in government. Thanks for the enlightenment.
You Mushota we are tired of your flippant comments. Zambia is not a family farm to be suggesting family members to take over the Presidency. You have spent more than half your privileged life outside the country that your ignorance is so apparent. To rank Chiluba just because he is your tribesman despite the thousands of shoes he left behind through theft is mind boggling. You are so blinded by tribalism that your cheap education in Glasgow makes your analysis very shallow (that is why I insist you should have gone to UNZA to learn ADS 101) to an extent where even if PF people were to urinate on you but tell you it is raining you would still believe them. You have never taken a sample vote to assess people’s opinions so yr views are anectedol. Please keep your mourning to yourself.
this is what SATA was…
Isaiah 1:23 ESV / 8
Your princes are rebels and companions of thieves. Everyone loves a bribe and runs after gifts. They do not bring justice to the fatherless, and the widow’s cause does not come to them.
VIVA KABIMBA. I love the guy because of his levels of displine. In fact if PF decides to pick another person other Kabimba or Scott, they should consider themselves gone. As for Edgar Lungu, it will be public nonse even to float him.
It is not the PF clique which will vote but us Zambians. Tell me in the PF, do we have any credible political muscle other than Guy at the moment who has gone to all parts of the country and has won PF seats. Who else? He just needs reinforcement of Kabimba full stop. Not even the large mouthed Kambwili can win voters. He has already messed up things at UNZA.
My other candidate with a good economic management CV is Peter Magande. He will be the next best alternative.
Since the passing of MR. SATA I thought long and hard on the meaning of the death of Zambia’s leaders in office. Is it that Zambia is unfortunate or is the Creator and Lord sending us a message to be more diligent when choosing our leader? I have seen a lot of comment about these men being old but that is not the case since KK and Mugabe are much older yet still up and about.
The answer therefore is that the people of Zambia believes that being tribal is cool and that they can put any crook in office and the Lord is saying to us, you keep butting these crooks in office and I will keep taking them out… Zambia needs a great manager, an honest person, who actually knows what he/she is about; but most importantly the person MUST be knowledgeable in Nation Building, Diplomacy, wealth creation and country management… only then will Zambia realize her full potential.
These thoughts were confirmed thru the passages to follow that the Lord gave me this morning:..
WARNINGS for the People of Zambia:
Proverbs 29:12 ESV / 13
If a ruler listens to falsehood, all his officials will be wicked.
Psalm 55:23 ESV / 10
But you, O God, will cast them down into the pit of destruction; men of blood and treachery shall not live out half their days. But I will trust in you.
Isaiah 1:23 ESV / 8
Your princes are rebels and companions of thieves. Everyone loves a bribe and runs after gifts. They do not bring justice to the fatherless, and the widow’s cause does not come to them.
Isaiah 1:4 ESV / 6
Ah, sinful nation, a people laden with iniquity, offspring of evildoers, children who deal corruptly! They have forsaken the Lord, they have despised the Holy One of Israel, they are utterly estranged.
If Zambia choose the wrong Leader again:
Ezekiel 3:16-4:17 ESV / 24
And at the end of seven days, the word of the Lord came to me: “Son of man, I have made you a watchman for the house of Israel. Whenever you hear a word from my mouth, you shall give them warning from me. If I say to the wicked, ‘You shall surely die,’ and you give him no warning, nor speak to warn the wicked from his wicked way, in order to save his life, that wicked person shall die for his iniquity, but his blood I will require at your hand. But if you warn the wicked, and he does not turn from his wickedness, or from his wicked way, he shall die for his iniquity, but you will have delivered your soul.
..Again, if a righteous person turns from his righteousness and commits injustice, and I lay a stumbling block before him, he shall die. Because you have not warned him, he shall die for his sin, and his righteous deeds that he has done shall not be remembered, but his blood I will require at your hand.
The New Leader God wants for Zambia:
1 Timothy 3:1-5 ESV / 49
The saying is trustworthy: If anyone aspires to the office of overseer, he desires a noble task. Therefore an overseer must be above reproach, the husband of one wife, sober-minded, self-controlled, respectable, hospitable, able to teach, not a drunkard, not violent but gentle, not quarrelsome, not a lover of money. He must manage his own household well, with all dignity keeping his children submissive, for if someone does not know how to manage his own household, how will he care for God’s church?
Mark 10:42-45 ESV / 26
And Jesus called them to him and said to them, “You know that those who are considered rulers of the Gentiles lord it over them, and their great ones exercise authority over them. But it shall not be so among you. But whoever would be great among you must be your servant, and whoever would be first among you must be slave of all. For even the Son of Man came not to be served but to serve, and to give his life as a ransom for many.”
May the soul of HEMCS Rest In Eternal Peace. I feel the handling of the president’s ill-health and eventual demise has been marred by deceit, treachery, breaking of the law (i.e, phone tapping scums), abrogation of the constitution but to mention a few. Well all this is what our late president represented anyway and it’s no surprise that he departs in the characteristic fashion. Zambia is now ready to move forward in another direction. Although Guy Scott might a part of a process that will ensure continuity we might just be ready for a Government of National unity to correct the wrongs as we heal and aspire for a great nation for our Children.
Common guys let us just morn the man and not start lying that he was a great leader. His leadership skills were next to non and the country has not improved economically but is riddled in debt which our children will have to pay. MHSRIP but let us not lie that he was the economic savior of our great nation.
Yes that’s Zambians doing what we do best, forget as if everything was fine and yet we have just witnessed the greatest deceit in the history of the Republic. Now we want to glorify the biggest lies ever told. Ok, a father, a son, an uncle, a husband has been lost but that is not to overlook the events of the last few months, bury our heads in the sand and move on. I beg to disagree.
While Sata was lying on his luxury death bed at the prestigious and expensive King Edward VII hospital in London, civil servants hadn’t been paid salaries in over 4 months. What a legacy..
RB also liked trips (even more than Sata) but civil servants were always paid on time during his tenure.
Is it true that civil servants have not received their pay? If it is then this is just the beginning of the worst times to come if Zambian do not change this government.
PF ni ba chimbwi chabe.
The Yamba, what has he been smoking. Your government angered the nurses, farmers and teachers the only one smiling are the chinese. Thats what i call real economic indicators. Noti vima fundematal, FDI shingananano
WTF? I thought civil servants are supposed to be neutral. This chap Yamba should be professional, he has the right to air statements in order to reassure investors but praising a politician is just wrong a thing to do for a civil servant. Anyway,political appointees don’t care about ethics.
It is too early but I am for Kabimba or Sylvia for presidency.
90 days PF wanted is here. It is ironic that the PF asked for 90 days to transform Zambia. They have had 3 years and there’s very little to show for their existence. Now they have 90 days before the next election. This is their only chance to fulfill those election promises. Life is funny isn’t it? The proverbial 90 days have been given to the party that needed them. We will continue looking!
Hello ladies and Gentlemen
Following the untimely death of President Sata I am sadden by his passing on. Saying that I would love to announce to all that as we don’t not have quality leadership on the ground now and I was waiting for the next election in 2016 because by then I could have been 36 and qualify to bring quality to Zambia. If you see, everyone today who wants to be President are either sick, greed or corrupt. They do not put the people who put the in power first but only there family and the pack of corrupt network who has no better hope for Zambia.
So since the constitution is amendable and elections will be in 86days by then I will be 35yrs so technically I can rule than me waiting for next elections in 2021 because I can’t trust anyone of them to rule with quality I…
Yamba is a fool . Either he smoked weed, under the influence of Scot (ish) gin or must be utterly confused because he knows he is going to lose his job . what nonsense from someone w should have been expecting professionalism from. It’s game over. Very biased ‘development’
Tell us how much nkongole you have accrued. What you did for each province. Others were utterly neglected just for exercising their democratic right to vote for a candidate of their choice (democracy) 90 days now 87 remaining. Where is the constitution? More money? what did you do for North western? Denied them even the chingola road and insulted their chiefs to as who they voted for to build the road.PF apartheid was too much.tribalism.tell us the names oof ministers.diplomats.key directors.one tribe.