Thursday, May 30, 2024

Zambia will never again default-Mutati


Technology and Science Minister Felix Mutati says the government is determined to see to it that Zambia never again defaults on its loan obligations.

Mr Mutati said it is embarrassing to be labelled as a defaulter even at personal level adding that government is now engaging at the highest level with its creditors to discuss the current debt.

He said as a government, it has resolved that never again is going to be in a league of defaulters as a country.

Mr Mutati was speaking over the weekend when he graced the annual Money Summit which brought together some of Africa’s leading financial, corporate and entrepreneurial experts to share their knowledge around finances and financial success.

The goal of this summit was to enlighten participants practical ways on how to manage, grow and protect their money as well as passing it on to future generations as it is a wholesome approach to financial literacy.

Mr Mutati said at the government level, the worst is over as the new dawn administration has made a position to change on how the country behaves regarding money.

“We are saying money must be spent on priorities that change people’s lives unlike being wasteful. It must be invested to transform the people’s lives,” he said.

“On the other end, unless the private sector makes money, government will not make money. It is for this reason we have put a framework that enables the private sector to make money, hence stabilizing the exchange rate and inflation. When the exchange rate and inflation is stable, the private sector can then make profits,” he said.

He added, “We must also remember that if we want to make money, the principle of collaboration and partnership which we call Ubuntu should be paramount.”


  1. This is coming from a shameless man who has served in every govt after UNIP…he also served as Finance Minister in Lazy Lungu’s govt just recently he was happy to see the plunder and waste just as long as he had a cabinet position like now.

  2. the man has been praising every government since he is another failed project he has offered nothing to each GRZ he joins all he is in interested in is to get a pay cheque at the end of the day. he has served in MMD, PF and he is with the promissory government

  3. Never say never, that is not an absolute statement Mr Mutati, you are a moral man. Soon you will wither like grass and also there dare so many external and internal factors against our small economy that may affect the economy.

    • Zambian has enough wealth to weather any external shocks and still meet its debt obligations………

      There is a proper president now……….

  4. I keep challenging the government to say what exactly this ministry does. Every government department uses technology. Every other government equally uses pens and pencils, should we then make a ministry of stationary? Mutati is now talking about Finance, last time he was running to hospitals and before then he was touring schools.
    I am hard pressed to see the relevance of this ministry.

  5. Ngatwalanda ati shani…

    Is this man normal. He was removed because he proved to be way too irrelevant and misleading.

    Just shut your mouth up iwe kembo…


Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site -

Subscribe now to keep reading and get access to the full archive.

Continue reading