A Nation Lied To: Hichilema’s Shameful K24-to-a-Dollar Lie

By Kapya Kaoma

Is President Hakainde Hichilema losing touch with reality? His recent boast that his “strategic thinking” brought the Kwacha down from K24 to K22 to the dollar would be laughable—if it weren’t so disturbing. It’s not just another false claim; it’s a calculated distortion of Zambia’s economic truth.

Everyone knows the Kwacha never hit K24 to the dollar under the Patriotic Front. That record belongs squarely to Hichilema’s own administration—under which it climbed to nearly K30. The data is public and indisputable. For him to suggest otherwise, and for his supporters to applaud, reveals something deeper: a politics built on deception, not fact. When citizens begin cheering for lies, democracy itself begins to rot. Hichilema has not only weakened the economy—he has cheapened truth in public life.

The real story behind the Kwacha’s brief recovery is far less flattering. Its temporary strengthening had little to do with “strategic thinking” in State House and everything to do with global shifts—especially a short-lived dip in the U.S. dollar. Any credible economist knows this. The president, who touts his business acumen at every turn, surely does too. But he prefers spin to substance. If he were honest, he would explain why fuel prices are rising even as he celebrates a “strong” Kwacha.

Even his much-trumpeted “K22” is already history. The currency has slipped again, hovering above K23 as the dollar rebounds. More crucially, the Kwacha of 2024 is not the same as the Kwacha of 2021. Its purchasing power has been gutted. Five dollars today buys far less than it did under Edgar Lungu’s tenure. That’s not progress—it’s decline. So much for the economist-president.

Hichilema’s game is –if the Kwacha weakens, he blames others; when it briefly strengthens, he takes all the credit. This is not economic stewardship—it’s public relations. Governance, under his watch, has been reduced to marketing slogans and applause lines.

The illusion of stability, however, is seasonal and shallow. After harvest, Zambia briefly benefits from agricultural exports; once the rains return, pressure mounts again. This is the cycle of a consumption-driven economy with a dangerously narrow export base. Until Zambia shifts from consumption to production, no amount of presidential optimism will keep the Kwacha afloat.

Nowhere is this failure clearer than in the mining sector. By surrendering our national assets to foreign and politically connected interests, Hichilema’s government has eroded Zambia’s control over its own wealth. Each ton of copper, each briefcase of gold, and each bag of emeralds that leaves the country enriches outsiders while we face higher prices, stagnant wages, and a weakening currency.

This is more than an economic crisis—it is a moral one. As a nation, we must not ignore his lies anymore. Doing so makes us complicit in his corrupt practices. A president who manipulates numbers to protect his image betrays the public trust. How can we expect him to fight corruption when he lies openly? Leadership demands truth, humility, and accountability—not propaganda. Enough is enough.

As we count down to August 2026, Hichilema’s state of mind appears increasingly unstable. Lately, he has insisted that life is better under his rule, that load-shedding “isn’t that bad,” and that critics “don’t live in Zambia” or “don’t understand progress.” But we, ordinary citizens, know the truth. We see it at the market, the fuel pump, and the dinner table. If we speak out, we risk police harassment or arrest. Speaking truth to power has become an act of courage—speak at your own risk. Is this the Zambia we knew?

We deserve better. We need a leader grounded in facts, not fiction. Economic recovery begins with moral honesty. Until President Hichilema learns that truth is the foundation of prosperity, the Kwacha will remain what it has become under his watch—a reflection of failed leadership: unstable, uncertain, and steadily losing value. And so will he.