Finance and National Planning Minister Ngandu Magande has assured that the current financial crisis sweeping global markets will not have a significant effect on Zambia’s economy.
And the Bank of Zambia has so far recorded and accumulated an initial US$1.3 billion in reserves.
This development indicates that Zambia ‘s economy will be able to withstand external pressures on the global financial instability in relation to her financial markets.
Mr Magande said Zambia’s current foreign policy stance was to promote its economy to the outside world by encouraging inward investments, trade and other economic opportunities from the international community.
He said it is therefore imperative that diplomatic staff in missions abroad postively promotes and portrays Zambia’s international image.
The Finance Minister made the assurance in London today (Thursday) when he briefed members of the diplomatic staff at the Zambian Embassy in Britain.
This is contained in a press statement signed for High Commissioner by Second Secretary for Press Rejoice Lukumba and released to ZANIS in Lusaka today.
He stressed that the exchange rate has fairly been with minor fluctuation on account of changes in the price of oil adding that these concerns surrounding the commodity (oil) are beyond government’s control.
On the home front, Mr. Magande said Government has put in place measures to contain food security by subsidising fertiliser inputs to support the small scale farmers.
Mr. Magande added that despite the demise of President Levy Mwanawasa, the current policies in place are entrenched and designated to be sustainable in long term.
“In the wake of current global crisis, it is imperative diplomatic staff in missions abroad promotes and portrays Zambia’s image internationally and positively by encouraging inward investments, trade and other economic opportunities from the international community.
”I challenge those in foreign missions to explain Government policy so that the international community knows what we as a country are doing,” said Mr. Magande.
ZANIS/ENDS/KC/CLM
Reduction of fertilizers by 75 percent is a crisis in making.Its clear that Mr Magade wont be a factor and he is not a factor.He is in the past.
I don’t agree with Magande. The fact is that the rate at which RB is announcing ( and why should it be him?) price reductions in critical items of the country’s economy is in itself a crisis already. We sháll definitely be affected if we allow this to continue by December you shall be receiving free mealie meal. I wonder why Magande has allowed this to happen because unltimately his team bears the reposnibility for what’s gonna happen to the economy and RB knows that.
1 & 2 go back to July and see that it was actually Magande who announced that the ferts support programme had been increased to 75%…hence the ferts reduction for the 200,000 farmers involved…this is already budgeted.
so what you are still loosing your job
The current crisis in its form is not affecting Zambia. Whether that continues is depends on how much it affects western spending habits.
Question for #2. What is wrong with free mealie meal? If the GRZ has the capacity to feed the less well off in society then it is duty of GRZ to provide food. If the money is there, the food is there, don’t let it go to waste. RB and Magande are showing maturity in their decision making. FTJ would have spent the surplus on shoes, suits and Mercs. Zambia has come a long way since then.
He? Again the price of fuel is beyond government’s controll? How come? So when its going up it’s beyond government’s and when its going down it’s RB?
What about dollar its now selling K3900.can you explain why?
When the west reduces imports from Asia, the Chinese, Japanese and South Korean economies will suffer. Next, they will spend less on copper and other industrial metals.
When that happens, Zambia will feel the pinch. Copper futures are down on the London Metal Exchange. Copper mining companies like Vedanta, BHP Billiton and Rio Tinto have seen their stock fall.
Rogue trader is right. I mentioned the credit crunch a couple of weeks ago but was attacked by ignorant PF supporter who said that ordinary people ‘dont eat credit crunch’. The price of copper has already fallen. The only good thing is that the price of oil has also fallen which should be good for us.
Ibelieve we are part of the global village and what is happening globaly should definetly affect us.just the recent drop in the copper price at LME has left major mining companies in the country in a crisis of some sort.Magande is being too economical with the truth, already the fert subside suggest a major problem even evidenced by the failed NCZ. We don’t want the bush way of claiming the Iraq expenditure will have no mjr impact on the USA and now it’clear.
The very simple reason that Zambia is marginally affected is because our economy is minimally represented by the mortgage owner-ship model and personal borrowing represents less than 5% of the entire financial market. I hope no one is reading shrewdness on Magande’s part here. Most banks do not develop credit products for the Zambian market because the mathematics of the equation demonstrate a loss for the banks.
As Mbala Boy has said, the only postive is that oil is trading at around $73 a barrel compared to $130 a few months back.
Magande waleka Shrek aonaula ama hafu. Bangwele imwe you dont have a living conscious. How do you personalize the money meant for Zedians and painfully contributed by them and spend it your way.
Iwe LT put my good cooments in,you allow silly insults and then you are blocking smart contributions…..whats wrong with you…
Another effect worth considering foreign aid. During a recession, western governments will offer less of the balance of payments support that has perenially supplemented our budget.
Nonsense Magande….You are just politicking….Should MMD win, the economy will be 70% worse than it is now because of your current campaigning.
ati shani shi mulase
is magende saying he knows just how bad this economic crisis will be,is he saying we’ve hit the bottom and now can only go up for him to make such a bald deduction when even wall street guys who invented these financial instruments (which no one icluding themselves understands)are saying there is just no way of telling how bad it’s gona go…
i think magande does not knw wat he is talkin bout lets just wait nd see
The Kwacha is falling because the prospects for Zambia and Congo are not looking good in the near term. The current political risk rating for Zambia is stable so analysts are mainly concerned about our balance of payments.
@#16 Leona you cant see your comment because your machine has been captured
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The only reason Zambia is not affected is most of our economy (house, car and other capital purchases) are on cash basis. This crisis is based on credit activity, so Magande and Fundanga don’t think you are smarter than the rest of the world.
#17 Exactly what I was going to say.
#6 your reasoning is like that of my son-10 years old!
does magande undrstand what will happen if the US economy pushes the world economy in a recession or worse still into a depression…..
is he joking…..
Magade himself should know that having policies on its own is not enough,we need leaders who can wisely implement these policies,leaders who can put national interests first etc.The way things are flowing(over spending,subsidies,abnormal salary increaments etc, we as a country are heading towards to a situation of more poverty.We are still depending on copper and anything can happen in terms of prices.Zambians Magade inclusive lets stop being over confident our country has nt made yet.Lets not exhaust the reserves
Ba #22 ikalenifye,how do you know which comment i was refering to….
Magande u hav let us dwn.dip dwn u knw tht th credit crunch wil catch up wth us coz the donorz and investorz alike wil nt hav enof money to ofa our projects,nw was supose to b th time for the reserve to increase their savings,bt alas,thy ar using it 4 cmpaigns,ur a gud finance minista,bt dnt let othaz ruin wat u hav built,lok at th dola,its goin up,meaning local xpotaz ar stil holding on to th foreign curency..
Leona atishani? Have you also noticed how shallow minded these guys are. They profess to know stuff and yet they know crap. Baletumweneshamo kwati bonse tatutontonkanya waishiba!
AWE GUYS APA MULE PROPOUNDER. THE LEARNED COLLEAGUES LET THE DATA FLOW. ABENA PONYAX CANT BE HEAD APASO KANO PANSELE. PONYAX MAKE A POSITIVE CONTRIBUTION LIKE YOUR FRIEND #13.NOT INSULTS
Leona naumfwa utulo ndaleko mailo ni ku office. I wish I was self employed. I think I should be next year or later. Ukucelela kwacila.
WHY IS KWACHA WEEKER IF WE HAVE SO MUCH RESERVES? WHAT HAS GONE WRONG BO MAGANDE THE RATE IS CLOSE TO K4,000 to dollar. PLEASE TELL US WHY YOU ARE NOT CAMPAINING FOR RB
Starvation?despite being abroad?
The Zambian credit market does not really affect house owneship. However, the major investors are multinationals which rely on the credit markets. Most big projects get funding from international financiers and liquidity is quickly drying up.
no 20 malzi see me outside
The Zambian credit market does not really affect house ownership. However, the major investors are multinationals which rely on the credit markets. Most big projects get funding from international financiers and liquidity is quickly drying up.
Reona (#25) darling, are you at an internet cafe? Why you poor thing…..Why don’t you come and cuddle next to me and all these rumours of an economic melt-down will vanish under my gentle touch? Free sugar, free mealie meal, free fertiliser to name but a few.
But on a serious note, why is RB bribing us with things that are already ours anyway? These things have a cost price and they are using our money to buy them and then now they bribe us? Magandenomics 101 basopo iwe !
Lets wait and see i hope you are not saying this as a campaign tactic for your boss Rb
Our currency is weak because our apparent economic recovery was based on the commodities boom. Now that the bubble has burst, we will have less potential to earn forex.
Wth al these price reductions through artificial economics-unip type,we shal suffer wen its time to corect it..our curency has lost value of over k800 in a space of js 2-3 mnths..and nw Mr magande surely u say tings ar ok in zed..alot of projects n zed ar donor fundd and through ths we get most of our forex,so if thy dnt hav enof to suplement us,we shal nid to fund ourselvs wich we cnt unfortnately..so pliz js tel us th truth wich is to brace 4 tougher times.
BAKAMBA BA MAGANDE WASHANI IYO MULELANDA. WE WILL BE AFFECTED IN THE LONG RUN. WAKE UP AND SMILE THE COFFEE
Ok shi mulase,naine ndelala so….but these guys are such a disappointment….we wasted tax payers money on their education….
ukabombe bwino shi mulase….
naubelenga iwa ba CEEC….another disappointment….
Just because the USA is falling down does not mean the end of the world. It is good that alot of effort was put in place to make a partnership with China. Its about time the developing countries so the western world for what they are, everyone lives on credit, kongoli for food, house, money, clothes. The USA and Europe is history!
With this global trend u put the combra in state house. you must be jokers. He is definately not for this error. it requires understanding of issues, being able to interpret not just doing things according to emotions.
Ba Sinjoko teti munkwanishe,am an acountant and just 26yrs….keep your tundalama for your poor lady….
but your second point is spot on…..they seem to live in the old days,ama zambians nabacha nomba….we will kick them out to joblessness and see they handle the suffring too…
We cant run away from the fact that the same credit that western consumers binged on is what caused them to keep importing from Asia. The growth in Asia, especially China, gave rise to a greater demand for industrial metals which played to our advantage. What happens when the western consumer is broke?
Atleast you guys are talking sense. keep it up I am learning.
Spot on #46,now why can’t magande reason like that…and they say he’s an inteeligent man,has the meaning of intelligent changed over the last seven years…they seem to think that this crisis on ends with finacial markets….they don’t seem to realize that it is like a food chain we learned about in G8….
I think our economy leaks too much; we have alot of commodities coming in from abroad and sold at exaggerated prices which stifle the growth of our production industries. Then there is the cartels. Shops in Zambia have connections to producers abroad, then they bank their money in foreign banks which externalise the monies. When are we going to have better controls?
I agree with 46, the economic slump will mean that our ecomomy will suffer. The projected taxes from the mines will diminish.Even when you look at the amount of money we have in reserves it is nothing. Many individuals around the world are worth more than that.
You see Ba Ole,we can’t be a third world and have an open economy,we have to be protectionists to some extent…when we buy foreign products we give jobs to those foreigners while our people here are jobless,but istead we join every free trade area we can even when it doesn’t benefit us…don’t these leaders ever wonder why Obama wants to renegotiate NAFTA….because he has seen just how fast work can shift to favourable countries in terms of cheap labour and in our case cheaper production costs(e.g dunlop)coz they always seek profit maxmisation….lets be realistic to what our economy can handle coz right now we can’t compete on the global market..lets protect and develop our weak industry
#no 6 Wake up by giving free mealie meal it means somebody has to pay for it suddenly zambia has so much money to throw around just look at how much has been spent since LPM death they have taken advantage of the death to squander money which they will tell you that it was budgetted for that is not surplus its just a way of hoodwinking you to believe its a working govt COUPON DAYS ARE GONE WAKE UP SMELL THE COFFEE THEY WILL RECOVER FROM THE TAXES ncz i N KAFUE IS CLOSED WHY CANT THEY PUMP MONEY INTO REVAMPING THAT INDUSTRY INSTEAD OF GIVING FREE MEALIE MEAL WORKERS AT NCZ HAVE GONE FOR MONTHS WITHOUT PAY AND YET MINISTERS HAS COMPANIES THAT SUPPLIES FERTILIZERS TO FARMERS
#51 gud 1 especialy on th free trade,we cnt evn go far bt js lok over our shoulderz and ask ourselves why sthafrica wth its bg economy has nt joind COMESA,thy knw tht much as its a free trade area.production costs wil vary in these mkts and ultimately same goods produced in thse makts wil be priced out by th cheaper producers,bt as pointd our zed wil join anythng,so lng it has cum,ending up being a trading economy and nt a producing one..
Zambians trust MMD even if we are spending huge our economy will no be affected much. Besides we are only remaining with two weeks and everything will come back to normal.
You guys are so right! Speaking of trade areas. A few years back, Egypt joined COMESA (though not a full member). I dont think we are exporting anything to them. What do we gain?
We need people like Magande to rule this country and not the so called king Cobra.
The hour is there to stay no matter what happens.
leona i like yo contributions. plz keep it up.
Ba fiiiikaaaaaaaaalaaaaaaaaaaaa mwalala?????????????
amen and you will find me when you work up. Where is PONYAX to help me spread the world around.
Ponyax where are youuuuuuuuuuuuuuuuuuuuuu!!!!!!!!!!!!!!!!!!!!
I simply love the way you harmer those who attack you my bro ulikwiiiiiiiiiiiii?????????????
56. do u know wat u talking about?
It is a universal tribulation I and I a go trod thru, just check the book of Revelation. So wah dat weh ya seh, Mr. Bigga Head? Prince Emmanuel say de Livity a go lick unnuh like sledge if unnu nah run come hail the King of Kings! Armageddon time, children.
We export cables to Egypt,they are a very good customer.We import less from Egypt.Its South Africa we must handle with care complete imbalance.
i have gone through just reading rogue traders comments.
pure reality.i can imagine you are like realistic and objective. interesting thinking.
you won’t be popular though people just hate the truth,that is why politics is more popular than sciences.
Ba Minister, if it can affect America and UK..who is Zambia not to be affected??? No know is gowing to buy our copper and cobalt. and where will get the tax.
Am afraid Minister Magande is misleading people that this global financial crisis will not affect zambia. May be he should be reminded that already the price of copper and kwacha are going down due to same financial crisis.
Secondly Magande should check world bank and IMF Programs strategies during this economic crisis.
puleeeez!!!!
The Chinese economy is mainly dependent on western consumption of its outpout. However, we all hope that its domestic demand is high enough not to affect raw material exporters like Australia and Zambia too significantly. We urge them to buy and stockpile the raw materials!!!
Ba Magande ubufi!
Zambia is connected to China which is in turn connected to the Western Consumer. Local consumption in China accounts for about 70% of China’s GDP and so China is not very affected.
It is estimated that without the USA, China’s GDP would decrease by 1%. There is sense in what Mulongoti is saying. One of the main reasons China trades with the USA is because oil is bought in US Dollars. China’s banks did not have investments in the USA and so for the time being, China is kind of in a safe position.
What I would urge the Zambian govt to do however is invest in agriculture as soon as you can.
[cont]
Zambia is connected to 9 provinces all of which are lacking in terms of Agriculture. Malawi seems to be the rising bread basket and also to some extent Tanzania. Most of the other economies which are connected to Zambia rely on natural resources.
In Zimbabwe, Agriculture accounted for about 60% of all foreign currency earnings. Zimbabwe would bost bumper havests year round and would have more than enough grain that they would export and gain a lot of foreign currency. If Zambia adopted the same system, we would reduce Zambia’s dependence on copper by a large margin and most of all foreign currency will come in through agriculture.
[cont]
It can export the agriculture produce like maize to neighbouring countries and export Cash crops like Tobacco and Cotton to international markets. It can also start a bio-desiel (spelling) agriculture project which will make Zambia less dependent on foreign oil and (if people get accustomed to bio fuel), Reduce fuel prices significantly.
Agriculture has a lot of potential in it. We can have what I call a GREEN ECONOMY. A diversified GREEN ECONOMY.
Sorry should read “Zambia is connected to 8 countries”
Biofuel firm contracts 4,000 farmers
By Business Reporter
Oval Biofuels, a local bio-diesel fuel production and distribution company, has contracted more than 4,000 out-grower farmers to cultivate the jatropha plant in various parts of the country, general manager, Claude Morrissey has said.
The crop from the out-grower farmers would constitute the main raw material input for the processing of biodiesel.
Initial out-grower schemes will be located in Sinazongwe, Gwembe, Siavonga, Mkushi, Petauke, Kaoma, Mongu, Lukulu, Zambezi, Nyimba, and Kaputa.
Mr Morrissey said his company would develop biodiesel refineries in decentralised locations in rural areas to cut back on the supply chain for raw materials.
source: Times of Zambia
=============================================
Comment: Such investments is what we need. Copper is not the only commodity Zambia has. We have so much more. Copper will one day finish. Thank you Oval Biofuels for the investment.
Can someone copy the Post headline story . I want to read about the southern Satamania
I see why so many will vote for Sata , for they are too dull to understand what the minister is saying.
Free-Market-Capitalist. I like your observations about China. You are right to say Chinese banks have been largely unaffected by the credit crisis. At the moment ICBC is the worlds biggest bank by market capilisation. China has foreign currency reserves of around $1.3 trillion. But wait a minute…
Lets now take account of what you say about the USAs trade with China. You say that, without the USA, Chinas GDP would decrease by 1%. That would be a disaster for Zambia! Chinas inflation stands at around 5.5%. Their GDP growth has averaged at least for many years.
china is not zambia. Our country is getting affected by western pinch.
Chinas GDP has grown by at least 9% for many years. If it significantly reduced that rate there would be many problems. Due to rising Chinese inflation, the cost of production in China keeps increasing. This poses threat to Chinese exports. Their currency, the Yuan, is trading at around 6.8 to the USD yet it used to trade at more than 10 a few years back.
“satanism has hit south “thats very sad for nation.
Copper mining does not benefit from the Chinese economy staying at the same level. It only benefits with expansion without which infrastructural development slows down. Chinas heavy infrastructural development is what led them to need more copper.
We will all be affected if the crisis continues. As Free-Market-Capitalist says, we need to boost the agricultural sector. If we became self-sustaining, we would reduce a lot of the forex outflow from Zambia and that would strengthen the Kwacha making it less dependant on the demand for copper.
Magande could be right. The world bank report states that African economies will not be affected by the global economic crisis. In fact they say estimate the average growth of African economies will be at 6.5%. However our economy may be affected by other factors such as political on stability and lack of investor confidence.
Awe mwandi i dont understand but this crisis has already affected South Africa so what about us? I think Magande is not telling the truth. Am reliably informed that though they re spending so much on campaigns, the national treasury is quite low
PLEASE GUYS LEAVE THIS ISSUE TO AS FARMERS. YOU DONT KNOW WHAT YOU ARE TALKING ABOUT CLOSE YOUR MOUTH. ONLY WHAT YOU KNOW IS TO TAKE FOOD ON YOUR MOUTH. BEFORE YOU SAY SOMETHING TRAY TO THINK. DONT JUST OPEN YOU MOUTH LIKE HIPPO. MAGANDE KNOWS WHAT IS TALKING ABOUT.ONLY EDUCATED PEOPLE CAN UNDERSTAND HIM BETTER.
Who’s this guy fooling? It’s a worldwide crisis and you need to prepare more adequately. What’s $1bn in reserves? It’s nothing in the wake of market turmoil. Don’t try to cheat the electorate Magande.
Who’s this guy f00ling? It’s a worldwide crisis and you need to prepare more adequately. What’s $1bn in reserves? It’s nothing in the wake of market turmoil. Don’t try to cheat the electorate Magande.
Common give us a break….we all know that when America shakes, the whole world shakes…Magande spare us the crap!
The kwacha and others currencies like the rand fell two days ago due to the closing price of copper and other metals on that day. I belive by next week the kwacha will atleats gain by 3% and we may see it to continue gaining steadly.
Thats the explanation for the current exchange rate btween our currencies and the US dollar.
Copper is needed in the manufacturing of electronic devices and especially by China, so expect the price of copper to continue to grow. If you have noticed while the west are crying in this financial crisis china and brazil still do have lots of money as they are not in the west and the west acknowledged that last wednesday.
And Zambia for sure will not be affectd
The falling of prices its on the LONDON METAL EXCHANGE.
The metal prices definately will go higher next week. Dont worry just watch. Magande knows what he it talking about.So #88 NO WAY, hope you are now seeing the light.
Ba magande, I don’t agree with u and I’m sure deep down your heart u don’t agree with yourself. Zambia largely depends on copper exports. Now, companies like KCM, Mopani etc have cut down on expenditure because of global financial crisis. Mind you, these companies are owned by muiltinantional companies whose headquarters are the UK, Australia, USA, Canada etc where the financial crises started from. They are saying cash is becoming difficult to obtain by borrowing. What it means is that the copper output will drastically go down and hence the overall export for Zambia will reduce. Can u say Zambia won’t be affected? As I’m speaking right now, copper output at KCM has drastically dropped
Copper hit a 34 month low yesterday on concern that construction is grinding to a halt worldwide. Lets hope this will be mitigated by falling oil prices. Trouble is the price of oil can rise much faster than that of copper.
People yesterday from one small pub in Ndola, I was priviledged to have a conversation with someone from our central bank. He assured me that the Kwacha will bounce back as soon as the election frenzy is over. He says in africa all the currencies have remained stable including the Zim dollar but only the Kwacha and the Rand seem to have been affected. From the time Mbeki resigned the Rand has depreciated and is selling for over ZAR9.00 to a dollar from ZAR7.00 a few weeks ago. Then in our scenario, after the demise of our President the Kwacha has depreciated so much its selling at almost K4000 as compared to K3200 a few weeks ago. Since we are not a violent nation, there is hope.
stop talking about ferti that is one way abuse office and stealing moni and now ECZ CAUGHT STEALING VOTERS BOOK AT THE AIRPORT FOR MPUNO IKULU.
Chi Magande kukanwa kwati ningwena. Too much kulya manyamuna mphemo when you were young I suppose disturbed the structure of the mouth and nose.
so far so good, but what will happened to Mulongoti with the stollen money?
am begining to believe what tha SDA always preach about, the hard times,then the anti christ, amagadon. niyopa manje, shetani boyi i think its time for us to repent brother. naleka insele. am even changing my username to pastor osama
people i believe he says significantly affected, he has not said Zambia will not be affected at all. He is not talking from without for heavens sake he has been advised.
Yesterday I had the dispensation of meeting a BOZ official from some small pub in Ndola. The man clearly indicated to me that the current depreciation of the Kwacha has nothing to do with the global financial crisis, because if it did then most African currencies would have been greatly affected. BUT note that, the only currencies that have been affected are from two countries that are going through a political transition – Zambia and South Africa, while other countries have had stable currencies including the Zim dollar. Magande is right, there is very little impact
This has nothing to do with politics and any sensible economist in Zambia might agree with Magande that this credit crunch might not adervesly affect Zambia as it has affected the west. This is not political but factual as has been stated by all the independent Banks. Now the issue of COPPER is quite different as it will ONLY affect the inflows which in the long term might have an effect on the Taxes, ex rate, income for the mines, but this has been countered of late by western government pomping in billions of Dollars into the financial market and this has seen an increase in the price of COPPER. So how will the financial melt down affect Zambia to a large extent? Let us not be watching
#99 Mwima you are very correct!!!
The Kwacha fell by 10% in less than a week. In my humble opinion, that is significant. What we dont know is how long we shall be affected and to what extent.
Good morning LT and all you on this thread, i just want to let you know that i have had a change of heart and am refraining from using words that do exemplify good “Morals”, I shetani Today asks for pipo’s forgiveness especially those who have adversely hurt and affected by some of my comments. Forgive me just like you are going to forgive Magande and RB for misleading us for their political expedience.
Magande is politicking…we all know that the Global economic meltdown has caused the fall in comodity prices, including Copper. What ever reserves he’s talking about, they are not infinite…shikapwa, plus this throws all the anticipated extra income from mineral taxes and royalties in to jeopardy…so what is he on about? Nakalepukafye…..
shetani you seem to be heeding God’s call like i have.way to go brother
The exchange rate has dwindled due to some indication that the monister cycle mata has signs of winning the elections. And because he is anti white investers our trade partners fear that they might make a loss hence less trade with Zambia meaning less demand for kwacha resulting in the dwindling of the exchange rate with other currencies. Nifwebo bakanye – kanye. Watch out for the worst should the monister win.
#99, the Dollar has gained against all major currencies. By June, the SA Rand was at 7 now it is at more than 10….the Euro was trading at over 1.6 to a dollar now its at 1.34, even the Sterling was at 2 Dollars to 1 Pound but now its around 1.7….so the thing is with the dollar and not the Kwacha….
Those of you refusing what the Hon. Min. of Finance is saying, can you deucated people explain why Zambia should be worried with the economic meltdown in world, then hogwashing and politiking.You are the ones politiking if you do not give us details here.
The following is a quote from one of the South African tabloids. “The rand slumped overnight, moving above the R10/$ level and is currently trading at its worst levels since August 2002, according to I-Net Bridge data.
The rand’s fall comes in the wake of plummeting stock markets overnight and a surge in the dollar and Japanese yen.”
I wonder why Magande is lying to us?
The issue is people should be objective and leave politics for politician and not think these guys are not thinking just because one does not support them, they are thinking are they have performed quite well for the last 7 years as compared to the 15 years before the LPM leadership. This is a FACT!!!
Pastor Osama iam changing my Name to Converted Shetani, how have you been brother?!
I hate magande i hope he can retire after 2011. I do agree with him though on the fact that Zambia will not be affected much because we don’t leave in a credit economy. Zambia will only be affected on forex because definitely the demand for copper
will go down.
It is the SATA fever affecting our economy negatively. The cadres are threatening white investors. We do not want a Zimbabwe crisis in Zambia. Investors are living in fear,because the language their president Sata utters against them. Look out for worse things than this to happen should this man SATA win
here’s a verse to guide you bloggers through this day:” there’s a way that seems right to a man,but in the end that way leads to death”. proverbs 14:12
Sorry, #107 should have read, the Dollar was trading at over 1.6 to a Euro but now is at 1.34 to one Euro…..
brother converted shetani, i just realised i was releasing my pressure the wrong way man. na moba nasiya manje….
hows the weather down there, its so so hot down here.makes me abit lazy
You are right Pastor Osama, i hope even these politicians will not choose the way of expedience and there after face death… Magande knows that what he talking about is a bag of lies.
#115 pastor osama bin zed – Please educate us on this verse as we are not all of the same faith, My only hope this is not one of those justifications for a wrong candidate as in life regrets should be avoided as decision should be based on what is right and not self conviction at the expense of reason!!!
#108 Miyoba, I thought #104 was quite clear…..your main source of income is and has always been Copper…if the prices of Copper fall, your income falls, meaning you will not afford to implement your developmental programmes, taxes from mines that you pinning your hopes on also disappear….Grade7 Social studies really!!
The weather these ends is fine and although looks like it about to pour anytime soon like in the next 48hrs….the political weather is somewhat disheartening, ba RB is forcing Magande to say things like this so that he (RB) can justify the reductions he is making now, which he was opposed to before this election…bwaafya mudala…but how is it those ends?
Rogue Trader, interesting comments….keep educating the less fortunate
Magande is being naive. What percentage of the Zambian budget is supported by donor funding?. I guess it is a gimmick to impress the next boss after 30 Oct.
The fundamental in Zambia are good. Chances are that Zambia could ride this wave of global crisis with minimal losses. Obviously, the Kwacha might tumble and then rebound in a short while.
I just want the Minister to release the current deficit as a (” exports – imports”) percentage of GDP. That will tell us more about our capacity to maintain healthy foreign exchange reserves in the face of a commodity market slump. The mines will definitely make marginal profits even present price levels (4800 – 5000 US$/tonne).
ZCCM made profits at US$310/tonne with all the inefficiency and UNIP influence. These private guys can even do better!!
I mean “the fundamentals” in Zambia are good – macroeconomic stability. The politics are good…at least we’re not seeing Police Brutality, Army Tankers/Trucks running over citizens, no tensions and crashes inside our border. There’s tough talk but no character assassinations among candidates themselves (except from zambian hooligans on shoe string scholarships in England and the U.S.).
The country is PEACEFUL and MICROECONOMICALLY STRONG!! That’s more important than anything else. We can build on those two FOREVER.
Nations with more stable economies are being affected by the crisis. What more with Zed? He should have said if the first world economies will be not be significantly affected, ours won’t too. We are at their mercy, in real, until African economies become independent/ insulated.
#119 doesnt matter which religion you belong to. if you drive you’ll notice that there’s what are called “blind spot”, this are positions in which you cant see are vehicle in the lane next to you,normally its just a few metres behind.so the car is there but you just cant see it and if you switch lanes you’re gone. likewise humans have blind spots,these are the bad habits that we get so used to that we dont realise how dangerous it is to get hooked on them.other pipo see how wrong it is but you just dont. i just realised what mine was,swearing, and i repented
I meant “the fundamentals” in Zambia are good.
The country is PEACEFUL and MACROECONOMICALLY STRONG. We are can build on that forever. It will be plain sailing, gentlemen, as far as attracting direct foreign investments is concerned.
But Mr Minister before I give you a feather in your hat: Tell the Zambian people about the current deficit (exports – imports) value as a percentage of GDP. That could be a killer!!
On the home front, Mr. Magande said Government has put in place measures to contain food security by subsidizing fertilizer inputs to support the small scale farmers…
These people have been lying to us, how are they going to subsidize on fertilizer with such a big reduction that was made from K200,000 to K50,000 if at all there was no money to increase teacher’s salaries, Doctor’s Housing allowances, pay Retirees and suppliers sort out UNZA which closes more than the number of students who graduate from there…All of sudden there is money to subsidize just like it was there to increase their Allowances…
pastor shetani i really hope so. pliz man exam the candidate you vote for thoroughly,he may seem to be the best but it may just lead to the “death” of our economy
People of Zambia I urge you, lets forge ahead and fight this government with it’s lies and put a user friendly government with ideals and has people’s interests at heart…
Vote PF and MICHEAL CHILUFYA SATA – MAN OF ACTION!
VOTE PABWAAAAAAAATOOOOOO>>>>>>
This is encouraging. I am seeing alot of good and positive comments in this story item. no politiking. lets continue this spirit guys.
# 130 discuss issues…economics…not ukubwata bwata kwa mu bwato..
its seems so many pipo understand economics far better than magende,and from the comments on this blog, they seem to be on the boat. i see i light at the end of the tunnel for zed
Asama bin something and Devil, say things that i can understand.
# 131 bravo…
Pastor Osama i have a lot of things reevaluated in the last 36 hrs and i have made resolves that are going to help me and the nation, i am not going to vote with little understanding but with a well informed mind, which thing has led me to change the candidate am voting for.
Pastor Devil, and that candidate is……..
Buying of unnecessary maize, reduced fertiliser prices, fuel prices still high though oil at only $70, I’m so sure these guys don’t know what they are doing.
the heading in the post news paper “satamania hits southern province” is very encouraging, not coz am pf but coz i see that zedians have finally gotten over the tribal barrier,i hope hh gets some votes from bembas. congrats to the tonga bulls for this great achievement
That sounds interesting mangande..looks like we are no longer in a global village but suddenly on an invincible fortress !! Great economics from the lea-r-ned fello..
Any wayz too bad you are LOOSING yooo-u-r job..
pastor shetani are you finally freely receiving your ticket for the boat?
#140 you know Satamania has hit the south, apparently i just dropped the hand and i have jumped in the Boat. I am going to vote for Sata.
my fellow zambians thanks so much for your contributions. but just to take you off this subject may you open at (kusilakwacobra.blogspot.com) will you find where its written labels and click on sick denfinately you find the right answer there.
Osama: Somehow I doubt Sata knows economics better that Magande. We are in for it guys.
Putting Sata in Office is the worst thing that can happen to Zambia
Demadone, i did not say sata knows economics better than magande, i said we have pipo on the boat who seem to know economics better than magande and thats a plus for us.
pastor shetani….a big welcome for you my brother, the boat is all accomodating. now that we’re talking in a normal tone,lets go flat out and educate those who aint yet on the boat. wise choice man
if nyama soya wins these election this country is headed for doom. Who in their rightful minds can reduce the cost of fertiliser by 75% at whose expense this guy has even stopped consulting Magande on economic and finincail issues. Lets give HH Obama the chance to run this country
i wont comment much on this coz am an engineer not an economist, wud ratha hear it from those who know more so i have a better understanding
The Post are just creating unnecessary excitement that may not be good for this country. The media is there to inform and educate, not swaying public opinion. Lets be objective Zambians.
#147 I do agree with you, though given a chance, I wouldnt support magande either..
mulongoti,the post is simply reporting what a pf official anounced, if you have a different view then say it out
For how long is it going to take Zambia to emerge from generations of colonial rule and struggling to move out of subsistence farming? Most of our people live on the land, eking out a bare existence. These people lack electricity, clean water, sanitary facilities, medical care, adequate schooling and employment opportunities. Starvation is a constant threat, as are diseases long since forgotten in the United States. Infant mortality is very high, and the average life span is about 40 years…
Change is needed people, heed the man with the BOAT! welcome on board Pastor Shetani!
According to the Butterfly effect, what is happening in the Western economies will surely affect us and affect us in an even bigger way. Normally small changes in apparent isolated systems get amplified in other apparently isolated systems in a big way.
Our economy is not an isolated system , we are heavily dependent on western economies for our own to run. Right now we are appealing to donors to fund our elections this year.
It is extremely absurd to say we wont be affected. A good proportion of our national budget is externally financed and if our donors are busy fixing their economies you would naturally expect reduced help.
Brace yourselves for harder times you earthlings in Zambia…
# 154, I agree with you. They are just reporting what the PF official said. But i think the media must be objective because the headline of that story gives an impression like they have carried out an opinion poll to back their headline. In this case, they are just reporting an opinion of one person, but is it what they headline says? I have nothing against PF, but i am just stressing the fact that its important that the media is objective. Muvi TV carried a story of the attempt to steal ballot papers, and they showed us all the evidence to support their story. That is what i call be objective.
spectator mwabukaa buti?
ufo uliwamano zoona
pastor osama bin zed i’M AN ENGINEER TOO BUT OUT OF CONCERN I’M FORCED TO TALK ABOUT THESE THINGS. I THINK SATA ISN’T THAT SOBER.
mike mulongoti, you’ll get all the evidence you need when pf holds its rally in southern province…and of course on nov1 coz am sure voting patterns will prove just that
Putting SATA in office is the worst thing that will happen. But that wont change anything as things are already worse with the MMD Zombie.
HH is the man. Too bad he is not making it.
Put on your condoms and get on the boat.HaPPy sHaGging pEopLe!
” PF has better Insults” — Dr Guy Scot
Magande you are bosting of US $1.3 bn in reserves, this is the kind of money you should have raised when you sold ZANACO. Going by what Zambia has, this is little money baba.
Pastor Bin Zed twabuukafywe bwino, i can see a change in your name you have added a title, any significance?
Otherwise tuliba mubwato!!!!
#156 You gat the point
#101 Mwine M:
I would like to know who that BOZ official is. The ZIM dollar is stable? If people at BOZ can think that, then what about our nutty leaders.
162. Former Zambian: how much did Zed make frm the sale of Zanaco?
Dont worry please Mangande is voting for HH hence his quietness i will never vote for RB NICE
demadone, i agree with you on that one.sata isnt sober neither is he highly educated, but he knows how to stir pipo who have the know how in the rite directions,hence his excellent track record in all the posts his held
the spectactor it a symbol of my repentant state. am off to a meeting now
Did chiluba knw abt economics,or was eitha of them kaunda and chiluba economists to do wateva thy did in their tenures,dosent mata wheatha sata,hh o rb knw economics,thts why all presidnt hav advisors to play tht role..evn unda lpm we saw +ves bt he was nt an economist..spare us th crap of hu knws wat.
#6, its a very wrong attitute to “like” free things!you have to work for every food that you put on the table.how can RB honestly reduce fertiliser from 200pin to 50pin?this is clearly a joke.Don’t get me wrong,iam not saying prices should not be reduced,NO.all i am saying is that this should be done with caution as we are likely to suffer economic crisis soon after the elections.these price reductions are not without consequences, believe me.
Has Magande ever heard of a phenomenon termed “Global Village”? No matter what he waffles, Zambia is affected. Our economy is heavilly dependent on “donor” support.
Having $1.3b in the reserve is like having 20pin at the bank while owing k5m and alot of expenses. Having money in reserves for a developing nation is nothing.
#160, be aware that sometimes people just come to public rallies just to listen, and that doesnt necessary mean those people will vote for you. HH had a “huge” rally to drum up support for the losing kanchibiya candidate. but how many votes did he get? less than a 100. Such stories like the one that post has carried has the potential to influence people to think like, “If we lose this election, then the election was rigged”. That is why i am stressing the point of being objective, because the media has such power to influence to alot of people in both good and bad ways.
The Post says Satamania has hit southern province. Has UPND been dislodged in their strong hold or is it Fred’s usual political masturbation?
Just go and vote, it will make you feel big and strong!
174. Mike Mulongoti which part of zambia do you come from…You are quite cunning!!
its political masturbation as usual
174. Mike Mulongoti:: Should ask some1 from western Zambi the meaning of “NJA YA MWAHAE”
http://www.hakainde.com
Don’t expect Magande to do his best now, not after the way he was dribbled. Otherwise we should give him the respect he deserves because its largely due to his diligence as Finance minister that the economy improved under LPM. Thats why LPM didn’t ever change him to another ministry. He has also been honored as the best finance minister Zambia has ever had by the IMF. As usual we don’t appreciate people until its too late.
Zambia has $1.3 Billion reserves, has this been done at the expense of squatting teachers in villages and poor medical services? someone body educate me out there.
Lets also remember that a number or projects in the social arena or NGO world are funded from mostly America and Europe. A crunch in any of these economies we’ll mean less funding for our donor dependant colleagues. Am yet to find projects in the social sector funded by our chineese colleagues. so Magande should be generous with the truth.
Media reports say a driver from Kalabo district council who is one of the officials performing supporting duties during the verification exercise allegedly attempted to illegally transport ballot papers from the wherehouse.
Opposition parties have accused the ECZ of engaging in practices aimed to rig the forthcoming election.
On Thursday, the Patriotic Front stated that it no longer has confidence that the ECZ can conduct a free and fair presidential election.
Spokesperson, Given Lubinda, challenged the ECZ to submit a comprenhesive report on the incident to the stakeholders for them to establish the truth.
Sitongwani (#179) you and I are kindred spirit !
# 182, thats why its called a reserve. Every country has such, and that is what determines the exchage rate locally. Even china, russia has such, and dollar is the accepted “global” currency. Ask economists, they will tell you.
# 180, I have visited this site. Its very interesting. All I saw was cattle crazing and a handsome man in a suit following behind with few villagers with the hands (palms) sretched forward!!!!
Another truth to bear is that we’ll all have to pay for RB’s spending during elections. Already Magande has announced the increase in PAYE next budget. So it meansonce the projects close down in the NGO’s unemployment we’ll go up. the job market we’ll saturated and gemerally has the effect of pushing wages in the labour market down.
Point is PAYE will go up and most of you wont get any meaningful increaments – they’ll be swallowed by the increase in PAYE
Anonymous (#182), part of those billions are reserved to bribe you to vote for RB in the form of sugar mealie meal and fertiliser! Magandenomics 101 basopo iwe !
The Post is disgusting!! It’s clear they’re out to get RB and trying to get Sata into plot one. It won’t work Mmembe is not the only voter.
#102 has the most qualified comment on this blog. good thinking keep it up.
Magande is not sencere! We shall sink economically, after 30th October, you will see have will reamain for hime to deceive us. Shame on you old man! You are better off quite, since you are not in RB’s campaign team team you do not know how much money this country still has.
www . kusilakwacobra . blogspot.com/2008/10/sata-exposed-for-bribing-journalists.html
This is good ladies and gentlemen. People are being less tribal and less insults. Keep it up!
Summer cool u r right!!
we wont insult him but we must still judge what he says.
I have floated Magande’s name To PF Central commitee to continue as Finance Minister in the next PF cabinate.It will be quite a small cabinate and manageble.For Judith Kapinjimpanga,I like your maturity in accepting defeat in kanchibiya.Please your are welcome into PF.You will never be sidelined here.Think twice before next week.VIVA PF CONTINUE WINNING AND WIN!
Shame on the Post. It is evident we will not be reading this paper for long. They have traded their objectivity for a vengence cause of palling with the cobra to nail RB. its like a letter book between two enemies in war time. Why has it always been Sata on the front page for the past few weeks? what happend to balanced coverage. The Post are now the PF version of ZNBC and Times of Zambia. Such a low road to take.
Kusila Kwa Cobra reported recently that Michael Sata was at Yatsani Radio station handing out K50,000 notes to people. One of their intern staff, Ms Eliasha Stokes reported these illegal actions on a website called Journalists for Human Rights.
Ms Stokes now wants to have her work removed, Kusila Kwa Cobra will consider her request. Her blog has subsquently been removed from the Journalists for Human Rights website; maybe they spotted the hypocrisy of her story? When you see what she has written then you will see why. Ms Stokes letter to us can be found under the story called ‘Sata Exposed for Bribing Journalists’.
For the full story see:
kusilakwacobra.blogspot.com/
# 193 He also has a history of medical stores paying for his bills – no wonder LPM resigned from government in 1994 because FTJ could not allow ACC to prosecute him!!!!
This is why we are saying vote for the best. Not corrupt sweat talkers/Jokers and those who buy votes( R.B)
Magande what reasoning is this? Are u also trying to align yourself with with Nyama Soya? I personally work for a company that monitors these developments day and day out, in as far as the dollar exchange rate is. The dollar has been fluctuating like I don’t know and as a result, prices of all our products have been hiked twice in the last 72 hours and here am talking about an increase of upto about K250,000 to each product costing in the range of K1.5m to K2.2. Basically everything has been increased and then we have a minister saying this will not affect our country! What economic sense are you displaying?
Winter Kabimba sold himself a house on Independence Avenue worth K 50 million for a song (K4.6 million) when he was town clerk. He could not be prosecuted because “Big Brother” Cobra sheilded him. All of a sudden Fred Mmembe has completely forgotten about such stories which the Post were carrying that time but decided to republish stories from Times of Zambia. Do journalist have ethics? What a shame!!!!!
Lets try Sata for three years, and then give chance to HH for five years and finally another five for Chirwa. How is that gents…..
I think Magande is partially right. The ongoing crisis is basically a financial one and as such, it is the rich nations who will feel the impact first. African Banks and Zambia included are not largely dependent on the western institutes and this is why we might just be able to stand aloof.
Continuity from 201: To a common Zambian this translates that their monthly earnings (which are already inadequate) will suffer yet another mess. Budgeting will be affected because the cost of living will definitely go high. All the institutions in the business of importing and manufacturing will hike their prices because the cost of importing and production will surely go high hence the need to cushion the impact. Surprising that Nyama Soya has announced 75% price reductioon on fertilizer prices! Cheap political game! 13 days to go anyway. Last kicks of a dying horse
IT IS AMAZING!
WHY IS ZAMBIA SO POOR WHEN THERE ARE SO MANY INTELLIGENT AND EXCELLENT ECONOMISTS AND KNOW IT ALLs?
ITS SUPRISING THAT AN EXPERIENCED ECONOMIST WOULD MAKE SUCH A STATEMENT. IS MAGANDE BLIND TO THE FACT THAT BANKS ARE NOW VERY SCEPTICAL ABOUT LENDING OUT MONEY AND THERFORE THE COST OF MONEY IS INCREASING DESPITE REDUCED INTEREST RATES AND INTERBANK LENDING RATES. THIS IS BECASUE OF THE CREDIT CRUNCH AND IT WILL SURELY AFFECT THE RATE AT WHIC WE RECEIVE FOREIGN DIRECT INVESTMENT. BY THE WAY HAVE YOU HEARD ANY OF THE PRESIDENTIAL CANDIDATES METION THE CREDIT CRUNCH… THAT SHOWS YOU THE KIND OF CRAP WE HAVE STANDING FOR ELECTIOBNS…ANYWAY VOTE FOR THE BEST CRAP.
Campaign Trail for PF!!! VOTE PABWAAATO
Friday 17/10/08 Mkushi at 10:00 Hours.
Friday 17/10/08 Kapiri at 14:00 Hours.
IF THERE IS SO MUCH MONEY, WHY THEN ARE OUR PEOPLE SUFFERING?
WHY THEN DO OUR PEOPLE HAVE NOTHING TO EAT?
WHY THEN DO OUR PEOPLE HAVE NO MONEY IN THEIR POCKETS?
WHY THEN ARE WORKERS STILL UNDERPAID?
HOSPITALS HAVE NO DRUGS, NO NURSES.
MY FELLOW COUNTRYMEN AND WOMEN, ITS TIME TO SWEEP THE COUNTRY OF THIS EVIL.
TIME FOR CHANGE IS NOW.
FOR LOWER TAXES, MORE JOBS AND MORE MONEY IN YOUR POCKETS, VOTE MICHAEL SATA, VOTE ON THE BOAT, VOTE PA BWATO.
1. HOUSING ALLOWANCES
THE OUT-GOING GOVERNMENT EFFECTED CRIMINAL AND CALLOUS HOUSING ALLOWANCE DEDUCTIONS FROM CIVIL SERVANTS, WHICH LEFT MOST OF THEM WITH NEGATIVE NET INCOMES. THE PF GOVERNMENT SHALL REVERSE THAT CALLOUS DECISION AND RENEGOTIATE WITH THE RELEVANT TRADE UNIONS.
196.Anonymous – I want to agree with you my brother.
2.GOVERNMENT
MOST COMMONWEALTH COUNTRIES HAVE NOT MORE THAN 15 KEY MINISTRIES. IN AFRICA, HOWEVER, MOST AFRICAN LEADERS HAVE BLOATED GOVERNMENTS. THEY SPLIT THE KEY MINISTRIES AND CREATE UNPRODUCTIVE MINISTRIES FOR THE PURPOSE OF CREATING JOBS FOR BOYS AND GIRLS THAT HELP THEM ENHANCE THEIR DOMINANCE AND DICTATORIAL TENDENCIES. TAX PAYERS MONEY, WHICH SHOULD GO TOWARDS DEVELOPMENT IS, THEREFORE, WASTED ON UNPRODUCTIVE JOBS.
U guys your presido is sick. You think he’ll rule Zambia and deliver with technical looming econmic issues? he even collapsed prior to the newsmakers forum debate after nominations.
ABASH state funerals NOAH wenu MULWELE. UBWATO UBWATO wakwisa.
VOTE HH HHH HHH HHHH . not snakes
If Magande joined PF, he would actually be well groomed to take over from Sata.
3. INTERNATIONAL AGREEMENTS
PF IN GOVERNMENT SHALL RESPECT ALL LEGALLY BINDING CONTRACTS AND AGREEMENTS ENTERED INTO BY THE OUT-GOING GOVERNMENT.
WE HAVE JUST PUT TO REST OUR BELOVED PRESIDENT, HIS EXCELLENCY, DR. LEVY PATRICK MWANAWASA, SC. THE MOST FITTING AND LASTING TRIBUTE WE CAN RENDER TO HIM IS ACCELERATION OF THE DEVELOPMENT OF OUR GREAT COUNTRY. IN THE PATRIOTIC FRONT, WE HAVE BOTH THE WILL AND VISION.
VOTE FOR THE MAN OF ACTION!
VOTE FOR MICHEAL CHILUFYA SATA!
VOTE PABWAAATOOOO….
spectator,whenis he du for the other provinces
Spectator i Like you Man……..Keep the Fire Blazing. Its PaBwato This Year
please can someone educate me on the subject: more money in the pockets, is it not the same with zimbabwe where they have more money in their pockets but can not buy food,pay rentals and education their children. plize educate me if you want me vote for sata without good explaination i will continue being with either rb or hh.
iye imwe. have you guys heard the latest, kapinjimpanga has complained of being neglected by mmd.the question is how, they cudnt rig for her lol.
Q FM there is a live programme, Anti Rigging Zambia.
#219. more money in your pockets will be as a result of paying less taxes.
#216 Spectator, this is not a campaign forum but a platform to debate national issues affecting the people and share ideas.Which candidate one votes for at the end of the day is ones choice after a careful analysis of the people standing.So stop this pabwato thing and concentrate on issues!
Eeeh Ba Osama You are now Pastor, Way to go seeing that MMD has Pastor Nevers and now Pastor Osama, Chawama. SATA fye Paka Ateke
There is something on Q FM about a truck full of ballot papers being caught in Kafue. Can any one shed light please?
Ba # 207. Did you know that the ‘credit crunch’ is not a recognised term in economics? you could call it anything as long as you mean that it is hard to otain cash and not necesarilly expensive. while you are right about banks cutting down on interbank lending, i do not agrree with you that this is the the case in Zambia at the moment. I say so because the credit market is at the moment quite robust in zambia as evidenced in how many banks are asking people to obtain loans as long as you in active employment or are a small business owner.It does’nt make a politician more qualified by merely mentioning the word credit crunch.
Magande and any one saying Zambia is insulated from the Credit Crunch are lying. The Copper Prices have gone down has (Magande) he forgotten that the dollar inflow will reduce (if not already reduced). We can even see the effect now: The exchange rate today is K 4,125 (Buying) and K 4,275 (Selling).Last Friday the rate was K 3,805-K 3,935. On 3 Oct 2008: K 3,440 – K 3,570.
So can he tell us what is causing the Kwacha to depreciate faster than it appreciated when LPM was around?
#135 Nyama Soya. I sakala Don’t mention ubwato in any of your useless comments. Leave Ubwato alone. Naupena. Ichinto shilepwa. Mind you ni pa 30.
# 219 very funny indeed. you made my day!! very savvy obeservation i must add.
Next week are due for N/Western, Western and Southern….
Good morning everyone. I have just read the aricle and browsed through the first 100 comments. Thanks to Rogue Trader, Mbala Boy and others for your well informed contributions.
Magande is partly right in so far as we have not been significantly affected. This is obvious. Standard Charted Bank is 4th or 5th largest bank in the UK but it has not been affected because it’s business is based in Asia and Africa. The two main things that will affect Zambia are reduced demand for copper due to global recession and reduced foreign Direct Inv (FDI) because Investors can’t source enough money for projects in Zambia. Zambia’s political risk is low.
#224 only difference between pastor osama for pf and pastor mumba of mmd is that osama is a repentant soul while mumba is a fallen one.
spectator dont listen to those asking you to campaign elsewhere, keep on my brother. coz of efforts from pipo like you we managed to get our friend pastor shetani on the boat.
ni pabwatoo
Big Up Anti Rigging Zambia
As a troubled soul once, I think true joy and happiness can be found in serving God and bein of help to fellow man, not being a liability and a source of reduce to humanity. MMD should take the People of Zambia for a ride. Thank you the Spectator for continued information you are dishing out its helping in my endorsing of the BOAT!
no. 2 Barotseking, you think just like I do. Which town are you in Deutschland so we can get in touch and discuss real issues. The Zambians ive met here only talk about papers…..
TYPO- i meant MMD should NOT take pipo for a ride.
now kabinjimpanga has cried foul, ati mmd neglected her….what she thought they’d get away with rigging, not this time. we know your tactics by now,it wont work sorry mmd.
pabwatoooo
#262 LOL
#232 LOL
No bad though. And where is talkative Shakafuswa? He is been very silent of late, Guess he is having fun in da slaughter house.
Change without proper justification and verting of candidates is a waste of time and yields its own problems. In 1991 people changed the system but to date no tougible evidence can be deduced of what it is that was changed and despite that a system cannot be changed with the same OLD spare parts like cycle unless HH or RB as they have not been too much in the main stream MMD, but to state that cycle is brining change and yet he is the same OLD spare part once used in the MMD (Not to consider these FACTS is like speaking like a MAD person).
During the credit crunch,and a period when the US dollar was weak, investors moved their money into commodities such as oil, copper and gold. This was a way of hedging against losses due to a falling dollar. When the dollar began to strengthen recently, the same investors started moving back their money by accumulating dollars, thereby releasing onto the market more commodities, increasing their supply and hence pushing down their prices – simple supply demand dynamics. Remember that a lot of these investors are fund managers, like pension houses, who do not want to hold onto commodities. OPEC is right now considering reducing oil output/supply in order to arrest fall in oil prices.
NO.222 at least you have tried but surely one point its not good enough. low taxes is not an explationation at all 4 a layman like me this is zero explanation. plize let your friends help you. low taxes 2 what percentage? what of those who do not work, how will they be empowered? those in villages will they understand your tips, i doubt lets be realistic men and women of zambian 4 the betterment of our children
continued. no.222 how many pipo are paying the same taxes and do you know the number of pipo who do not have jobs. my own elder brother has a degree in engineerin he was at university of zed from 1990-1995/96 he had a good job quite ok but it was in contracts right now he is jobless i feel bad becuase we do not have a mother and father they are all late. i look up to him but how…. will he help me when he jobless. my dear easily said than done.
Magannde is talking politics not economics to please those who have sidelined him.Unemployment will swell because many international
companies have frozen new projects and recruitment.No new investors will come and our so called non-traditional exports will have no buyers,tourism will also suffer.Lets be pro-action oriented and check
our expenditure
Patriotic Front, whose leaders have strong reputations for “getting the job done” and a strong commitment to modernization of Zambia in all important political and economic respects, is committed to
• the separation of powers (and specifically to the introduction of a Government effectively headed by a Prime Minister along British lines)
• free market principles in economic management
• tax and interest rate reductions to spur economic growth
• reduced Government spending, particularly at the political level
• rooting out corruption, torture and other violations of Zambian citizens’ and other human beings rights
…Cont’d
• strengthening the health and education policy to improve fallen standards
• addressing rampant fraud in government
• implementing workable projects to achieve wealth creation
• co-operation with performing NGO’s, bilateral partners and other political parties to achieve true national development
• rebuilding Zambian and non Zambian investor confidence…
worried zed, low taxes doesnt just mean PAYE, those who dont work will benefit, there’s value added tax on comodities you know
UBWAAAAAAAAAAAATOOOOOOOOOO IN THE LEAD!
ATI NOMBA NIPA COBRAAAAAA OR PA SHIPPPIIIIIIII
Let us diversify our economy, so that in future we will be less affected by fluctuations in copper prices. Zimbabwe lived on agriculture, so does Uganda. We are able to do the same, even better as we are rich in minerals like copper and cobalt.
There’s Vision 2030. This could be a starting point. We can look deep into it and ask ourselves whether we have sufficiently addressed our dependency on copper earnings. It is possible to set targets in reducing this dependancy. We can say for instance, by 2030 we want copper to only contribute 40% forex earnings. Then hold our Govt / economy managers to deliver that. If this is our wish, then our representatives the govt should be there to implement national aspirations. We all know that Zambia’s fortunes turned sour when copper prices began to drop after the peak in the 70s.
Rogue Trader, I like your style of keeping to specifics and actually being informative. Your observations are spot on.
Sinjoko Mwabonyi – Re you comments to Leona, whom you addressed as Reona – What if Leona is a man??
To summarise, when America sneezes, the whole world gets a cold.
“On the home front, Mr. Magande said Government has put in place measures to contain food security by subsidising fertiliser inputs to support the small scale farmers.”
Following Minister Magande’s statement above, it follows that HH knows exactly what he is talking about on him giving free fertisers for 3 or so years when and if he becomes President. HH knows how the GRZ has been operating and he (ecHi ecHi) knows where the money is unlike other gongs who are busy duping gullible Zambians.
Vote for your Children’s future by causing the man of the moment ecHi ecHi to be Zambian president on 30th October 2008.
Frankly its about time Zambians and Africans realized that other countries have their own issues to worry about. All you people who are worried about the west and how this will affect Zambia, if you care so much about Zambia, instead of insulting people spare us your ignorance, spend your time writing what you have personnally done to help Zambia? What jobs have you created? What businesses, clinics, schools have you created?
#249 so are saying low PAYE and Low VAT? how do we write off costs of public spending with this revenue gap? any reduction in one component of revenue calls for a rise in another in order to maintain equilibrium this applies to taxes and its a very simple rule. defying this rule will bring about budget deficies trigger a rise in inflation because the moneys will be in the wallets instead of financing national growth. you will obviosly have no schools roads hospital;s etc. To be honest and by saying this i mean well. That PF tax story is CRAP!! only the dull people ignorant are buying it.
I continue urging Micheal Chilufya Sata to endorse ‘ecHi-ecHi’ before it is too late for him as he will be a political-exclude in 2 weeks times if not careful.
New Zambian ecHi-ecHi Administration to-be as on 4th November 2008
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President Hakainde Hichilema
Vice President Richard Kapita
Prime Minister Patrick Chisanga
Finance Minister Fundanga
Commerce Minister Ng’andu Magande
Information Minister Emmanual Mulenga (Nominated MP)
Science & Technology Minister Habaatwa Mweene
Labour Minister Edith Nawakwi
Defense Minister Brig. Gen. G. Miyanda
… more later ….
Countdown fever: 13 days and we are counting.
OKBAZAAR
Be careful about receiving ‘free’ social goods from government. There is everything wrong with that in a country with 80% unemployment. If you were to exmaine the matter carefully you would realise that there are many areas of our economy that require large amounts of investment, which have not been allocated. You do not need free things at the moment. It would be folly for Zambians to convince themselves that our economy can support bfree mealie meal. Beware of the future – and the past.
LT..why are you blocking my comments???If I think Magande is a liar I should be allowed to say so..do you not agree???
As someone said before “SATA IS LOOKING TEH PRESIDENTIAL PENSION! OUR BEMBA BROTHERS WHO FORMED ANTI RIGGING ARE WAITING IN THE WINGS SHOULD HE FAIL SO THAT THEY CAN CONTINUE AND INHERIT ZAMBIA WHICH WAS LEFT FOR THEM BY THEIR FORE FATHERS IN THEIR WILL. WHAT SCHEMERS AND UNTRUSTED PEOPLE.
SATA KILISHOLI FELA. APUMA AHULU MUSHIMANI YO
No 258 do you not know that Patrick Chisanga walked out on HH because of his treibal ways? Edith Nawakwi walked out on HH because of his arrogance? Magande called HH a small sectional leader. Miyanda would not work under such an inexperienced fellow. Dream on none of the people you name apart from Kapita Richard would work under hh.
#263, MODERATE, the UPND’s president and Presidential candidate HH is very inclusion in his approach to politics in particular and life in general. HH’s aim is too move Zambia forward. He will give the said jobs in my postings to all those people you mentioned with detailed issues not because they have failed to endorse him (HH), but because they are Zambians and capable people in those areas of specialty.
Watch the Space. Zambia is in for a new breed of leadership that will transform the nature of politics. This trend will set a path which will be admirable by all current HH’s skeptics such that they will soon start callng for HH’s 3rd TERM. But, alas, HH is a Constitutional democrate.