The Zambia Micro and Small Traders Foundation Cooperative Society Limited in Muchinga Province has hailed Zambia’s economic performance under the Patriotic Front (PF) leadership.
Provincial Programmes Coordinator Josephat Chitimbwa says the Zambia Micro and Small Traders Foundation Cooperative Society Limited is happy that International Financial Organisations who have been following Zambia’s economic performance, have continued to give Zambia a fair rate.
Quantum Global Group, a Zurich-Switzerland based Investment Fund and asset organisation with a large African focus has ranked Zambia as the 8th best performing economy.
According to their 2018 Africa investment index report, Zambia is also the third best performing economy in the SADC region, behind Botswana and South Africa.
Quantum Global’s 2018 Africa investment index [aii] ranks Zambia as Africa’s overall eighth best on growth, liquidity, risk, business environment, demographic, and social capital factors.
Mr. Chitimbwa says Government has managed to stabilise the economy because of the good policies that it has put in place adding that the Zambian economy has in the recent past seen a steady growth.
He has since appealed to the Government to continue pressuring the lending institutions for them to reduce lending rates in order for the ordinary Zambians to benefit from the good performance of the economy through various economic activities.
Mr. Chitimbwa says Zambia can only sustain its economic growth by adding value to various products for export in order to boost its Growth Domestic Product (GDP).
Zambia has targeted an average annual real Growth Domestic Product (GDP) growth rate at least 5 percent by the year 2020.
In a green paper released to the media recently by Secretary to the Treasury Fredson Yamba, Government said its specific broad social-economic objective during the 2018-2020 will include, maintaining single digit inflation in the range of 6-8 percent; accelerating the diversification of the economy, particularly towards agriculture, manufacturing, tourism and energy, through among others.
Meanwhile, Mr. Chitimbwa has appealed to its members who got small loans under the Presidential initiative to quickly pay back in order to benefit more.
Mr. Chitimbwa says those who have paid in full have since qualified for a second funding of K3,000 and their names have since been forwarded to the national headquarters office in Kabwe.
The formerly United Street Vendors Foundation Cooperative Society empowerment and now Zambia Micro and Small Traders Foundation Cooperative Society Limited fund is a replica of a successful revolving fund being implemented in China and Malaysia in Asia that has seen a number of youths getting out of poverty and be able to start their own businesses.
Mr. Chitimbwa said about 400 youths in the entire province have benefited from the revolving fund.
Mr. Chitimbwa named the beneficiary districts in the pilot programme of the youth empowerment fund in Muchinga as Nakonde which has the highest number of beneficiaries at 80, Isoka 53, Chinsali 31, Shiwang’andu 38 and Mpika 40.
Mr. Chitimbwa has also retaliated that the funds are meant for all youths in the country regardless of their political affiliations.
He charged that poverty has no face and it is for this reason that the funds are targeted at the youth regardless of sex, belief and political affiliations.
He added that the Government has been calling for economic diversification and empowering the youths involved in various business ventures is another way of promoting economic diversification and help in growing the nations’ economy.
Not good news for HH
Don’t drag persons into the mud. Stay there alone.
– My worry is my father is still yet to collect his pensions from zambia railways and this is year 5
– my three neices are yet to get jobs as teachers even after graduating 4 years ago.
– having 3 meals a day let alone 1 is a struggle.
-my farmer uncle is struggling with his faming operations due to the shambolic fsp program, his faming business is collapsing.
– my cousin an ex mulungushi textiles worker was conned his vote on the premise that it was to be open in the thired week of august 2016 yet to this day non has happened he remains in a depressed state.
We are in trouble bane.
“….Mr. Chitimbwa has also retaliated that the funds are meant for all youths in the country regardless of their political affiliations….”
He is at the forefront eating those funds that’s why he is singing…..
He is at the forefront chewing those funds that’s why he is singing…..
@Bozo, am sorry for you Zambia Railways management is different from government, then your three nieces should use their brains after training they can join private schools or use the education they obtained to start a private school. Dependence syndrome is a cancer which we should all fight.
You are talking from a wako ni wako perspective.Straight from school to entrepreneurship you did not pass through that route,we pay tax for those with keys to the treasury to exhibit prudence, impartiality and fairness.
Problem is you think thieving is hard work “wabetole”
” The Zambia Micro and Small Traders Foundation Cooperative Society Limited in Muchinga Province has hailed Zambia’s economic performance under the Patriotic Front (PF) leadership. ”
It is for all Zambians, you UPND clowns always have to attach things to your regional way of doing things. Read the name of the association again.
If economy is doing well, why is govt behind in paying its bills? Why is debt to local suppliers piling up?
Even America is behind in their Kongole kikikikiki.
Every good business holds on to paying bills, if they can and make sure that those who owe it pays promptly. Nothing wrong with delayed bill payment.
Okay british donald tramp kikikiki.
This is really lack of professionalism. These chaps must learn to tell the truth. Government according them are behind in bills. So which economy and which Zambia
Hello, not everything should be tied to your losing UPND. Some of our parties like FDD and Heritage are sleeping, but you do not see us crying.
The economy is perceived to be doing fine as citizenry has many taxes to pay from their slave wages. Government has to be honest about tough economic hardships citizens are going through, companies are downsizing, business environment is chocked.
A realistic way to live is to look at how best to bring down cost of living. Money has really lost value.
Comments are closed.