Zambia Chamber of Mines welcomes economic relief measure, but want to Know how funds will be spent

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Chamber of Mines Chief Executive Officer Sokwani Chilembo
Chamber of Mines Chief Executive Officer Sokwani Chilembo

The Zambia Chamber of Mines has welcomed the implementation of economic relief measures by the Zambian government originally announced over a month ago, and the securing of approximately 150 million dollars in funding from international partners.

The enactment of the relief measures provides companies across the private sector with much needed certainty as to how and when they will apply thereby giving businesses the cash flow benefit that was intended.

Zambia Chamber of Mines Chief Executive Officer Sokwani Chilembo says the repeal of parts of the recently introduced Statutory Instrument number 90, in particular is welcomed by the industry and reflects positively on the active engagement between the industry and the Government on this and several other issues.

Mr Chilembo said the statement by the Ministry of Finance on 29th April announcing the K2.7 billion in initial funding being secured from America and the UK and multilateral institutions, to help in Zambia’s fight against COVID-19, is another encouraging step towards mitigating the economic impact of the coronavirus pandemic and provides Zambia with some much-needed financial firepower.

He has now questioned how these funds will be deployed saying Zambia has been late to act.

And Mr Chilembo has emphasized that the Chamber is willing to work with the government in fighting the COVID-19 pandemic.

He said individual mining companies who are members of the Zambia Chamber of mines have already donated to the government, a sign that they are willing to participate in this fight.

5 COMMENTS

  1. As you would have noticed, I have recently had a number of people copying my profile here due to my increasing popularity. As such, my public relations team are trialing a profile picture which will be unique and has never been used before. Please tell me what your thoughts are on my new picture. Kz. Zambia has not been late to act against covid. If you want to know what late is then go to the United kingdom and see the effects of late action. There they have over 20k deaths here how many do we have? I would encourage this man to contact ministry of finance directly for answers to his questions. The media wont tell you cause they don’t have the answers. The rest of your article was fine. Kz

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  4. It is time mining houses access the funds so that employees can also be given soft loans to mitigate the negative socioeconomic impacts on their families due to COVID-19 measures.

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