Wednesday, June 19, 2024

Empowering Zambia: Breaking the Chains of Debt and Pursuing Self-Sufficiency

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Empowering Zambia: Moving Beyond Debt and Embracing Homegrown Economic Development; By Cosmas Chilando

The current state of Zambia’s economy demands a critical assessment of its strategies and a paradigm shift towards self-reliance. While the celebration of a $188 million debt contract with the IMF might seem like progress, it raises concerns given Zambia’s abundant resources, including the lucrative Kagem Emerald mine and Sugilite mine. This article aims to provide guidance to the Zambian government on breaking free from external dependence, maximizing its potential, and establishing a sustainable homegrown economic development model.

  1. Embracing Resource Utilization: Zambia possesses rich natural resources, particularly in emerald and sugilite mining. To stimulate economic growth, the government should prioritize the development of these industries, harness their full potential, and capitalize on their market value to generate revenue.
  2. Exploring Agriculture for Medical Cannabis: Zambia’s fertile agricultural land presents an untapped opportunity for cultivating medical cannabis. Despite international conventions on narcotic drugs, advocating for reforms and exploring the medicinal cannabis industry can create a new income stream and potentially offset debts.
  3. Redefining Economic Independence: Zambia must challenge the narrative of reliance on external partners for economic aid. By fostering innovation and supporting local industries, the government can promote economic independence and reduce dependence on external assistance. Nurturing local entrepreneurs and businesses will build a resilient economy capable of standing on its own.
  4. Developing a Homegrown Economic Model: Zambia’s path to prosperity lies in crafting a unique and robust homegrown economic development model tailored to its specific needs and resources. By investing in research and policy development, the government can formulate strategies that maximize domestic potential, attract foreign investment, and drive sustainable growth.
  5. Prioritizing Food Security: Ensuring food security is crucial for economic stability. The government should prioritize agricultural development to guarantee sufficient and affordable food for its citizens. Empowering local farmers and investing in agribusinesses will not only boost the economy but also enhance the overall well-being of the population.

Conclusion: Zambia stands at a critical juncture where it must shift its focus from celebrating nominal debt contracts to harnessing its wealth of natural resources and agricultural potential. By breaking free from external dependence and adopting a homegrown economic development model, Zambia can forge a path towards a prosperous and self-sustaining future. The government’s commitment to these initiatives will determine its success in empowering its citizens and transforming the nation into a beacon of economic growth and stability.

8 COMMENTS

  1. Blah blah. Go out there and do something. You may fail 7 or 100 times. But keep on learning and don’t give up

  2. Chilando the people that you are telling this are going to just insult you and not listen. Their great leader the mighty privatization thief is in full gear auctioning every resources to the highest bidder. IMF, World Bank who he smiles the most to will never let an African be independent. None of these resources you are talking about are going to benefit Zambians because they have already been given to bazungus. When a Zambian find Gold or Sugilte, mines it he is an illegal miner. Ichilema’s friends are enjoying the tax holidays while the unemployed praise singers a getting crumbs of bread in form of CDF.

  3. Zambians should learn to read good information written here by this brilliant writer and find way to make the people in Leadership do something. We Vote for leadership to build the country than they found it not doing personal gain. Let’s all get involved it’s time to change the Narrative. Sata the late President used to say the educated ones in zambia are the most cowards because they are scared to speak truth.

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  4. Bazungu wants to give you a fish instead of teaching you how to fish so that you can be under their total control and steal all our natural resources

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  5. This government doesn’t see what some of us can see in Zamia all they see is debt restructuring , they can’t see any gold in many parts of Zambia, they can’t see sugilite in Luapula province and the new gold mines in Mpika to them sugilite is for their pockets, and gold is for their personal use , however they have to go and borrow peanuts to lock this country in debts and remain stagnant.
    To say it all this is the most corrupt Government Zambia has ever seen in it’s history , the mr fix it has now started doing what he loves best , tribalism and can’t fix anything ,tribalism is at the center stage and hatred for some groups of people who are equally Zambians are being tortured on daily basis

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  6. Mr Chilando if you tell a beggar that go and work, they will be very mad with you. We would rather give away our minerals for free and go to IMF to borrow and beg. You will see how many insults you will receive from the cult members for telling their great leader to stop begging and borrowing.

  7. Rare metals and elements fetch a lot of money and is in grams. It does not even need to be on the London SE, like copper to sell. But much of what we hear in news is that Sugilite is stolen. This precious gem can go for about USD75million per tonne. We don’t need IMF, World Bank or China for debt? My Zambia is rich on her own. Let’s make good use of our manganese.

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