PRESIDENT Edgar Lungu has stated that the current prevailing economic challenges cannot be attributed to any individual or form of mismanagement of the national economy because the difficulties are largely influenced by various factors across the globe.
He said the current economic challenges are influenced by various factors across the globe and Zambia is not immune to the effects.
“My government is, however, doing its level best to reposition, so as to mitigate the effects of these harsh conditions. Therefore, such efforts definitely require the participation, patience and endurance.
And President Lungu has said that the Patriotic Front (PF) is determined to raise funds to help the needy in society without dipping into the State coffers.
The President, who was speaking during a prize-giving ceremony of a PF fundraising golf tournament at State House in Lusaka yesterday, urged party members to take a leading role in helping the needy in society using fundraising ventures.
Part of the proceeds from the tournament will go to Kasisi Orphanage.
“This gesture is commendable as it complements efforts that my government has been making in improving the socio-economic status of the citizenry including the needy,” said Mr Lungu who urged the PF members to reach out to the needy and not only fundraise for the welfare of the party.
Mr Lungu said government will continue to uphold principles of good accountability of public resources especially in the wake of severe financial constraints the country is currently facing.
PF chairperson Ngosa Simbyakula said the party has embarked on a venture to fundraise in view of the next general elections, but the President, who jokingly wondered when the elections will be held, directed Dr Simbyakula to take the issue of elections date to Parliament.
“I am happy to hear that the elections are next year…says who? They will come when I announce. It is a pity that we have to wait for Edgar to announce the date for elections,” he said.
You are the only one mr changwa lungu until 2021
And t think that this dull lazy individual has been entrusted as custodian of the Zambian economy. The global economy is only one of the many factors affecting the Zambian economy. You need to manufacture and make your goods competitive on the world market in order to salvage your economy. We have never heard you mention your strategy to achieve this. Prioritize your expenditures and cut down on unnecessary government costs to match the level of economic activity in your county. Those useless trips with your large unnecessary entourage are costing a poor country a fortune. Think about the woman on the street selling roasted maize with her 8 year old daughter that is supposed to be I n school before taking these useless trips or even playing the the golf you pretend to know.
Viva HH
The Zambian economy is what the PF government says it should be. It is at their level of competency, and that level is showing. Management is exactly that, to manage; so if the economy runs away from you, you have failed to manage it, do not blame somebody else.
Oh, by the way, that golf swing needs proper management or the shot will be shanked.
And it is the president talking. This man really has no clue, he does not inspire, no wonder the Kwacha is nose diving. At this moment, advising in any way or form is a waste of time. Edgar is not only visionless but incorrigible
Ninshi walanda ??? I wish you were near id puke in your face. Dont you know that lack of management IS mismanagement ??? Lungu is an absentee manager, hence lack of it. Aleya this time around nangu ci thieving RB chikaisanshemo, period.
Kekekekekeke that is not the way to hold a gold stick. The hand with glove should be in front.
That ball didn’t go anywhere, just as the PF government is not going anyway.
@Nostradumas
its called a golf club not golf stick as you put it. you want tot sound as if you know alot and yet you know fcall. This is how busy you have been fulling yourselves in the updn camp that you are masters of all and yet you are are bunch of hyenas.
Of course its not mismanagement.
It is just absolute incompetence and madness laced with corruption, theft, tr1balism and lack of accountability.
Changwa has no vision and that that is why he can’t understand and see that Zambia is in a mess because of he has no vision and because of mismanagement of the economy. Don’t blame external forces on load shedding, high fuel, high unemployment and high electricity tariffs and lack of water in some parts of Lusaka etc. You can’t have a bloated cabinet in Africa plus tribalism and corruption and expect your economy to be healthy? oh, i nearly forgot? how those shushushu doing with suits on a golf coast? Zambia the real Africa in the sun
What a yats. In other words he is praising the useless costly pf decisions on expenditure, keeping 82 year old Chikwanda in the treasury, corrupt deals et al!
Zambia is getting the fruits of having a useless govt. These feckless PFools will never accept responsibility for the economic collapse of Zambia. They will blame God or the global economy but never themselves.
Does this dull chap masquerading as a president understand the concept ‘mismanagement’ in its definitive contextual implications? Zambia is really in trouble!
More excuses for incompetence, ignorance and plain stupidity!
Does this clown really think he can fool the Zambian people with such BS?
We need someone in State House that can walk the walk, not just talk the talk.
99% of Zambias current problems are due directly to the inefficiency, corruption and incompetence of the PF Government that has skyrocketed since 2011.
It the budget short fall also because of the world economy???
Whatever the reasons are, Zambia can manage to prosper given her resources. Why would one think this is mismanagement of resources? It is, big time. We are mostly concerned about who should be in parliament, and not the economy. At the rate we going, Zambia will be the same or even worse, one million years from now!Everything is political around. So sad
What a stupid explanations…. How is borrowing a global trends? U don’t know borrowing has done more harm than good to think country’s economy?
Have your head checked before yapping….
…I challenge ECL to call up a press conference to answer burning questions from local scribers, BBC and the likes
…mismanagement may not be the only factor but it is the main one….90%
So budget deficit, loans, tax evasion by mines and other businesses, load shedding, few exports, etc are all globe-influenced problems??????
I would even suggest this massive amount of load shedding is crippling the businesses of Zambia and thereby cutting the tax base of Zambia which in turns hurts the whole economy weakening its ability to pay back loans and therefore forcing a higher interest rate on debt causing the kwacha to devalue… a continual downward spiraling circle of problems. Can we blame load shedding on the global markets — probably not! Can we blame the lack of rains on God – probably, but would recommend it! Can we blame someone for poor planning, probably – but who? It doesn’t take an electrical engineer to realize a developing country will need more electricity year after year.
A true leader doesn’t blame his problems on circumstances, but anticipates and finds way to deal with circumstances. That’s why they call it leadership!
Yes, but here in Zambia we have had NO LEADERSHIP since 2011!
We have just had a COMEDY of errors by a bunch of CLOWNS called the Pathetic Fools!
Enjoy the show!
The biggest problem I have with this dude is, he is quick to look for excuses for problems the country is facing so that he does not do anything. What does not give me confidence about him, is that he has not uttered anything that resembles a strategy of how the current problems can be resolved. Surely, you can not allow the mining industry which is the back bone of the Zambian economy to be subjected to load shedding. If I were you Mr President I would immediately leave the golf course and get a bit of £1.25billion Euro bond and invest it in Solar energy. Create solar energy farms that will generate power to supplement hydro electric. The UK does not experience as much sunshine as in Zambia, but they are doing solar energy farming which is supplementing other energy sources. Mr…
Why is there so much personal verbal attack on Edgar? No, you don’t sit when being greeted, guide/lead your wife when disembarking a plane, you don’t hold a golf club like that… why why why? Why is emphasis on his ‘personal life’ – yes I know he is a ‘public figure’ in case you start treading that path!
good point. we can talk about policy, vision, direction, etc. but I agree – let us leave his personal life to him. Besides, he is holding the golf club correctly. If you swing right handed, the glove goes on your left hand. Stop being so overly critical about everything.
@ Mr. X and Just thinking
Mr. X, can you please clarify who is ultimately responsible for constant 1mbecility which has taken roots in decision making? Opposition Leaders, gardeners and cleaners at State House or…?
Just thinking, thank you for clarifying glow issue. Can you also enlighten us who is responsible for current state of incompetence and who should be blamed, live ones or departed ones?
But this president, he knows very well there are elements within government and other public institutions who are from the opposition who are sabotaging strategic economic utilities and he can’t say anything. Please smoke them out before it is too late!
This has to be the first time I have heard him touch on the economy. Previous speeches were mainly on tribalism, warning political opponentd both inside and outside PF, chiefs and traditional matters etc. As President he needs to speak with confidence and re-assure the public how we’ll swim out of this economic malaise. I know he is a lawyer so his economic vocabulary may be limited, but he needs to sit down with his economic adviser for a crash programme in economics
“I am happy to hear that the elections are next year…says who? They will come when I announce. It is a pity that we have to wait for Edgar to announce the date for elections,” Lungu said.
Chapwa! Chagwa agwesa constitution & Alungusha chalo!
This has alwys been my greatest fear. Remember elections held 27th December 2001 & Levy installed after 6 days 7 & Mazoka’s vote allegedly stolen. Excuse was due to bad weather.
2015 Jan elections “Winner” announced on day 6. HH cried foul!
Now ECL boasts having power to announce election date. Don’t expect elections in dry season (Setp-Nov) but be prepared for late december or Jan 2017 elections. Reason to steal the vote again due bad weather. Yet Nigeria is rainier than Zambia but results were known within 2days. Now Confirmed by…
Now Confirmed by Chagwa’s statement! Opposition be prepared to endure a prolonged & deceitiful election battle due to “bad weather” in Mafinga. Does it mean if Tanzania attached Mafinga during rainy season Zambia Army wud wait till rains are over 2retaliate? Opposition uses light copters to compaign in Mafinga, why shud ZAF with big military copters not reach Mafinga to collect ballot papers in time? How do exam materials reach schools in Mafinga in December? This is their ploy to steal votes by holding elections in Dec/Jan!
I urge and caution some bloggers belittling His Excellency Edgar Chagwa Lungu to desist from that. If u were born in a normal family set up u would ve respect for elders and more so for those in authority. ECL is president for Zambia,meaning is president and father for all. Whether u re UPND,FDD,MMD,PF and whatever ethnic and religious affiliations. So guys,in as much as we would like him to address these socioeconomic issues,its my plea that we refer to him with respect and civility. Lets create a precedence of respecting those ordained to be in power!
How can anyone have respect for this Pathetic Fool???
Respect is EARNED. What has he done to earn it?
If you an MD/CEO and you give this kind of excuse the board will fire your a _ _. Now the CEO of Zambia plc says the problems we are facing are caused by mostly external forces. Mr President the environment is always changing and a good manager must respond to the environment internal or external. These are basic things we learn at business school. And you don’t have to go to Harvard because even CBU here teaches these things. I am surprised the president would use this kind of excuse.
Hearing the president distance himself from this mess is heartbreaking and does not provide much hope to the citizenry of whether the economy will get better anytime soon. And when do we expect to see/feel the effects of the measures they’ve so called put in place to beat the slump in economy, or it’s an open ended timeframe?
History teaches us that, since time immemorial, problems have beset different parts of the world. Leadership has made the difference in solving or aggravating them. I think that what people are saying is, please provide the leadership so we don’t fail.
The exact impact of Chinese impact and effects was not known clearly Even in the US as they discuss the possible rate hikes towards the critical Friday meeting But more data has come out though not so refined and firm but no less World economies are positioning The same is in Europe with countries in Asia like India whose Overseas investors have pulled out Rs 17,555 crore ($2.65 billion) from the Indian capital markets in the month due to sharp global sell-off triggered by a rout in Chinese equities are rebalancing
Though the Us exposure is considered insignificant they have prioritised and are following the developments in China and are positioning themselves to ensure the best case…
Though the Us exposure is considered insignificant they have prioritised and are following the developments in China and are positioning themselves to ensure the best case
Its clear Fed officials are assessing several options through which the China turbulence could affect the US economy either through import prices, tighter financial conditions and the knock-on effects globally arising from the recent Chinese slowdown
Global rate forecast by moody and other aggregates have seen to revised in recent days to reflect those systematic and unsystematic risks in China The same attention has been with Bank of England and other Euro and Asia including down here to make insulation
With…
With Zambia’s huge exposure to China in exports and imports It must be critical at this time
There has to be a maximize not a satisficer given this exposition and Modelling the CHINA ZAMBIA TRADE FLOWS AND IMPACT on Zambia’s Economy You model the BLOCKS in Regional effects and simply through in on your Accounts those flexes especially the lacky of efficient information in Chinas fallout managing the downward risks in those assets China Driven
Chagwa has contributed to mismanagement, by jamming from one tree to another, that’s by touring, now it has taken him to do golf, which he never used to play, his place in tarven. He has failed and no one will understand him. In short FAILURE
As you play that maximiser and satisficer you need to know your timing when its right You will be taking or following either passively or actively as is appropriate for Zambia’s market classifications in Assets You will not also be wasting time and money on issues you will less influence on given exposition
In this case the President could be right but preparing to flex with that exposure will be rightly correct for Zambia’s The turmoil in China that has slowdown its economy and will consequently affect FDI and Cash flows in prices and rates for China Zambia making other regional FDIs and Cash flows in trade more favourable to Zambia quest for development
So even bushman Kalaba plays golf, oh my God, what a cabinet, learning to play golf , but cannot fix the economy. Useless at its best!!!!
THOUGH It’s true the effects in China has excited debates and also dividing policy matters on inflation and interest The clouds have been very think to see through “‘the genuine health of Chinas Economy”” but it’s clear now the slowdown is projected and decisions must be made in that direction to favorably profit
Though the debate and repercussions for Zambia’s case should be more immediate and significant for policy makers now than later documenting appropriately as markets tend to repeat and more severely next time
@ Jackass financial 1diot
And what is your position on good governance, accountability, corruption, nepotism…..?
One might wish we could all debate at the level of Mrr @Fungamwango instead of the monotonos partisanry trash we’re being increasingly subjected to.It’s bafling that althou it’s clear that we’v been thru worse than what we’re going thru now some peopl want to behav as if ecl can’t just pick a panacea at their finger tips.Better accept that what politicians are saying has been said many times befor and still we ve long way to go.politicians ar not solutions.
There is no more time to debate. We are at the point where future of the Nation is at the stake and you want to debate how Chinese Government misplaced and 5tupid intervention has caused turmoil in the Stock Markets?
You want debate? Great, can you mention any other Head of Government taking golf lessons whilst national currency is in free fall, local industry crippled by ad-hock power rationing and real unemployment well above any meaningful statistical data? What effing debate you are asking for? How to join exodus of Eritreans, Sudanese, Ethiopians……..?
Edgar et al., are nothing but a useless bunch. Arrest these good for nothing politicians!!!
“And President Lungu has said that the Patriotic Front (PF) is determined to raise funds to help the needy in society without dipping into the State coffers.”
Truly laughable yet the lazy bum is using the Public facilities at State House to raise funds for his party…why didn’t they go to Lusaka Golf Club.
Why can the bum just call a press conference and articulate the economic situation.
If you expect anything sensible from Lungu, you will just end up having a stroke and he remains gallivanting. He is not a serious guy and state house is definitely the wrong place for him. From playing golf he will get on the next plane leaving Zambia, going to another beach after Namibia. Let’s just wait for 2016 even though it’s taking ages
Why not apoint hh as President and fire all pf mps why did he not complete the reshufles bit for defense minister,actuary the defense minister can best suit to be president for he is better than the whole pf live and dead
Economic turmoil is caused due to incompetence. The government is filled with cadres and no technocrats and in such an event there will always be problems.
OK???? He’s grown big headed already!! Your time is coming!!Time for RB came, Time for KK came…you are not any special!!!
Kupusa ngako aChagwa! One wonders how the good lord could have endowed the Zambian collective mind such stinking wealth of stu.pid.ity so as to entrust the instruments of power to a lousy ***** like this scam bug!
Chagwa has got to be one of the biggest embarrassments in world political history. When he eventually passes and goes to Hell, medical research needs to examine his mutated brain tissues to insured they are never reproduced! I mean, with presidents like these, who needs to go far to find a reason for underdevelopment?
We( the public) are always prepared to draw daggers once a member of the ‘other side’ speaks out. How can we develop if we analyse them offensively/ defensively without analysing the subject at hand? Though I object Lungu’s self-defence, I still give him the benefit of doubt if he has anything to show, however little, of his seven months stay in office. We are our own enemies as even defend ills to potray’ loyalty’. Lets learn to subject our leaders to full commitment without minding party loyalty, BUT in a humane manner.
Though it will be wise to determine how much you need to change your economic outlook for Zambia on the global scene especially with significant flows in FDI and trades in China. Countries with in significant exposure to China will unlike Zambia have little to worry as investors turn risk averse investing in exchange traded bonds away from A rated equities effectively affecting rates and cost of capital the evolutions in China must be monitored critically and those risks modeled as the expo sure is quiet significant and could be more pronounced in commodies cycles
Today, I was surprised. For the first time I heard people on Cairo and Cha Cha Cha road say ba PF think they will kolopa ba Zambia …. Baibepa fye!!!
There is certainly a start of the revolutionary spirit Zambians are known for.
Chagwa ask RB, Kk and FTJ the mettle Zambians are made up of!
Shame I think the President must be sorry he made this unfortunate statement
UPND haters feel sorry for you
“My government is, however, doing its level best to reposition, so as to mitigate the effects of these harsh conditions”.
How are you going to reposition? What measures have you taken to mitigate the harsh condition from global factors?
I knew the moment that this guy opened his mouth about the economy; he became the biggest fool in Zambia. He should have just kept quiet!
He is indeed clueless! Not all external factors impact the economy negatively. Currently, there is an opportunity- the drop in oil price. How are you ensuring that Zambia benefit from this tax rebate? You cannot because the exchange rate is rubbish. He has no leadership capacity to deal with the underlying problems affecting the exchange rate in particular and the whole economy; endless trips, he has traveled more…
“My government is, however, doing its level best to reposition, so as to mitigate the effects of these harsh conditions”. How are you going to reposition? What measures have you taken to mitigate the harsh condition from global factors?
I knew the moment that this guy opened his mouth about the economy; he became the biggest fool in Zambia. He should have just kept quiet!
He is indeed clueless! Not all external factors impact the economy negatively. Currently, there is an opportunity- the drop in oil price. How are you ensuring that Zambia benefit from this tax rebate? You cannot because the exchange rate is rubbish. He has no leadership capacity to deal with the underlying problems affecting the exchange rate in particular and the whole economy; endless trips, he has traveled more in…
Seriously…these are not leaders FULL STOP. They are simply ba Chimbwi No Plan. Leaders do not hip blame on non performers. They either empower them to perform better or simply fire non-performers and look for skilled replacements. What a waste of Zambians’ time!