Movement for Multi Party (MMD) President Nevers Mumba has observed that the failure by the ruling PF government to bring direct foreign investment in the country has also contributed to the poor performance of the Kwacha.
Dr. Mumba noted that the former ruling party, MMD, was very good in terms of attracting foreign investment and that that is the reason why the economy under the MMD was stable.
Dr. Mumba recalled that when he was Zambia’s High Commissioner to Canada, his responsibility was to bring investment to this country.
He said that he managed to bring the investors who bought Lumwana Mine and they invested in the country with a sum of 7.8 billion US Dollars.
He said that was what the country needed now if the economy is to be stable and not coming up with policies that may affect foreign investment.
Meanwhile, the Kwacha is slowly showing signs of stability as it has slightly gained against major convertible currencies following Government’s decision to revoke Statutory Instruments 33 and 55.
The SI 55 empowered the bank of Zambia (BOZ) to monitor inflows, outflows and international transactions while SI 33 prohibited using foreign currency for domestic transaction.
Finance Minister Alexander Chikwanda said Government had decided to revoke the two SIs, which were meant to support the implementation of monitory policy, to allow for further consultations.
The local currency had before the revocation of the instruments hit a peak of K6.45 against the United States dollar.
A check at selected bureaux in Lusaka today indicated that the Kwacha had recorded a slight gain, two days after the SI’s were revoked.
At FXA bureau de change at Pick “N” Pay, Woodlands, the dollar was buying at K6 and selling at K6.325 while the Euro traded at K8.25 and was selling at K8.42.
C and A bureau at Manda Hill shopping mall, the dollar was buying at K6.200 and selling at K6.400 and Euro was selling at K7.10 and selling at K7.20.
A check at the Golden Coin bureau at Spar Arcades found the dollar selling at K620 and buying at K630. The euro was pegged at K7.40 and was buying at K7.50.
The World Bank praised the revocation saying the decision indicated that Government valued consultation with the private sector on policy change.
The Bank’s group country director for Zambia, Kundhavi Kadiresan said the move would enhance public confidence in policy matters.
Economist Oliver Saasa also hailed Government’s decision saying it will have a positive impact on the economy.
Meanwhile the Zambia National Farmers Union (ZNFU) has lauded Government’s decision to revoke the two Sis and welcomed planned consultations on the matter.
ZNFU president Evelyn Nguleka said in an interview today that though the damage in the agriculture sector had already been done the move was better late than never.
“The cost of production in the agriculture sector was affected because of the implementation of the two SIs as trading of inputs was badly affected, but it is good that the SIs have been revoked,” Dr Nguleka said.
She said the cost of input for some products might not be immediate while others would be adjusted immediately as farmers would need to make profit from the commodity that they purchased during the time the two SIs were in effect.
Dr Nguleka added that the Association and the private sector opposed the introduction of SIs fearing it would cause turbulence on the economy.
“Government should see us as partners in development and realise that we take responsibility whenever we are making contribution to policy formulation as it is for the good of the nation,” she said.
Dr Mumba,
If I were you I would appoint Dora VP of the party! With her you stand a great chance of making it. I dont like the fact that you Zambian politicians have sidelined women forever! I know this is out of the topic but I thought I should let you know.
As for PF not encouraging foreign investor…… I think It has gone both ways, I mean you and PF have scared aware possible investors, I dont need to explain how but you have also contributed to that fact. Foreigners dont just look at the political stance of a nation but all vices that encompasses wooing anyone trying to put money in a pot!
PF has largely contributed to less this fact as well as the masses, online media houses, komboni dwellers etc! My advice to all of you…..sit together and clean this house!
@cindy
hahahahaa,, are you encouraging organic suicide?? encouraging Dr Mumba to appoint Dora as Vice president is like encouraging Sata to appoint Kabimba as vice president,,, the bigger picture is how can you sell Dora or kabimba to the nation of Zambia,,,
on diect foreign investment! Sata needs to listen much more to the cries of ordinary Zambians… he should be a leader with a listenig ear and a clear vision like the late mwanawasa
@Ndobo,
I dont understand the feud Zambians have with Dora, she is one interlligent woman who cares more for the people than herself. Wouldnt you want to vote for someone like that? I think it’s about time Zambians stopped joking and looked at things seriously men have ruled that country since independence and all they have given us is nothing but am Kwachaless currency and pot holes!
@cindy
i hear you my dear… but i also dont understand the feud Zambians have with kabimba. Kabimba is one of the most intelligent lawyer Zambia has ever produced,,, and he deeply cares for Zambia
What has been her performance in her constituency, had she been fulfilling her campaign promises. Hoe was her performance in the ministries she was running, did she deliver . Intelligence is good but intelligence coupled with performance is even far much better.
Sorry meant how has been her performance and not hoe or had.
Cindy,in MMD unlike orher Parties,Vice Presidents are elected and not appointed.IN UPND Dr Canisius Banda was just appointed for convenience,but not in MMD-That is democracy.
Why are people forgetting that this lady was at the centre of the corrupt RB govt?
Very intelligent, please give me a break, what is intelligent about Dora, No wonder we are where we are. I feel very nauseated by comments like these, they are more intelligent Zambians and women out there, than these vocal ones… that are deemed intelligent. Tell me one thing intelligent about these people. Hogwash.
Fellows,
Dora is a positively changed politician who wants to do wat is right! She is still young to make it up for her past mistakes. Am curioius as to how many interlligent women are on the Zambian political front right now, for those of you who keep saying there are other ones other than Dora, for as far as I know, I havent seen none lately!
@ Evaluator, Hoe in dutch is how, either way I got you point.
@ Sir Nyambe, I applaud MMD for allowing democracy prevail in electing their party leaders, but lets encourage more women to drive our polical chairs as well.
@ Kakalunda,
Hogwash…..maybe, but lets learn to use our intuition in some of these puzzles for if we stay in the past, we will never arrive and will let our emotions play us the winner!
@ Cindy you have great points when you say she is a politically changed person how would you describe the personal issues she is bringing up concerning Muhabi Lung when her party president called for a cease fire. Please read Tumfweko if what they are reporting. We need issue based politics and not personal politics.
Dr. Nevers Kabwata
If she has changed politically then let her be patient and let Democracy be fulfilled in MMD . Her party President called for a cease fire but one online newspaper is reporting that she has gone very personal on another MMD person . People want issue based discussions and not personal issues which are a distraction.
#1.7 SUCH ARE ZAMBIANS. THEY ARE VERY MYOPIC. CINDY THINKS BEING LOUD-MOUTHED IS BEING INTELLIGENT. WELL, IT COULD BE. BUT, MORE THAN ANYTHING ELSE BEING WISE COUPLED WITH INTEGRITY IS MORE DESIRABLE IN SERVING THE CITIZEN WHO ARE MOSTLY VULNERABLE. STEALING FROM THE SAME POOR PEOPLE ISN’T SERVING THEM WITH WISDOM AND INTEGRITY. I AM AFRAID DORA SILIYA IS A THIEF WITH NO INTEGRITY. AND HOW CAN IN THE FIRST PLACE A THIEF APPOINT ANOTHER THIEF WHEN MMD NEC MEMBERSHIP ARE SAYING ENOUGH IS ENOUGH ON THEIR PRESIDENT. MMD SHOULD GET RID OF THE PRESIDENT FIRST TO BE FOLLOWED BY OTHER MEASURES.
Nevers your failure to provide good and effective checks and balances to the party in government has made you a usless president of a some useless i diots. FDI can only come if zambians sort out their internal or domestic issues of governance right. nevers your role as mmd in the OPPOSITION is to keep an eye on the party in power not cheap politicking about useless issues ka pastor and your friend kachema (HH) of upnd
….only your fellow mongrels can understand the s.h.i.t you are talking about! Looks like you alwayz think with your a.r.s.e up and your head down! CNP!
And this oldhutu apar.taid ku clax clan supremacist b.emba skull still preaches ethnic hat.red. Go back to hell whence you belong!
Kudos,your sewer mouth is what Zambia least expects at this time.Zambia needs pipo of value and not moraly bancrupt pipo like you.Leave Nevers alone.
Usually chaps with tiny dciks like Kudos are the ones who always talk crap. Just my two cents….
Focus on developing an export oriented economy, do not depend on FDI only. Promote manufacturing industries and stop importing stuff that can be produced locally. Start trumpeting to all Zambians that local is really better. In a nutshell, import less and export more.
@Wantanshi
In order of priority, FDIs first, then these bring in secondary SMEs supporting major investments, with a goal of turning these into export oriented industries, first within the region and then penetrating other regions. As far as I am concerned the second republic was building on these. Copper production has risen sharply and these could not have been easier to do than now.
The notorious cartel that put Sata into office has now hijacked the MMD through the desperation of Lucky Mulusa and Dora Siliya to get back into parliament. Have you realised that Mulusa is now soft on PF? They have realised that their political survival is only through working to disorganise the MMD so that PF may have a chance in 2016. They also think it is Nevers’ fault for MMD to lose its popularity. People were just fatigued with MMD. It is a miracle to revive the MMD now by people like Mulusa and Dora whose true characters have been exposed. Mulusa was coming out strong and could have managed to revive it by removing the likes of Dora and others from visibility but was exposed when he started attacking fellow opposition and for proposing to accept to work with PF. Sorry he blew up…
If you read the post editorial between the lines, you will realise that it is a well planned scheme to keep the bemba vote undevided. By removing Nevers Mumba from MMD and by exposing information against bembas that they should never rule again, bembas will vow to vote for their own, sata and may not tolerate voting for any other tribe (anyway bembas have never voted for any other tribe except for Chuluba’s would be stooge Mwanawasa). The Mulusas are actually now working for the cartel but pretending to be working to reorganise MMD.
I hope they have learnt a lesson from Former MMD members who did the same before the 2011 elections and where they are now.
This is if the allegations are true.
His excellency Rupiah Bwezani Banda took many trips to spur more FDI infows but the opposition led by chi Sata derided him as a globe trotting tourist.No wonder the economy,record forex reserves and moody’s ratings have all turned south bcoz we put villgers with zilch interest & knowledge about economic matters in charge.
my ignorant village friends chilyata and siamanengo there’s nothing ethnic or kkk about the fact that nevers and ka (HH) are irrelevant on the political scene. your goat herder (HH) chews you upnd followers like cud and spits you out of his 4 stomachs like a cow you still sing praises to his hitler symbol at your tribal village gatherings 1 hand in the air with your mouth open. we dont want a red eyed dung smoker (HH) taking that cattle stench to state house shaa! and ka nevers a failed fo olish pastor. siamanengo just back the new party of educated youths from unza and cbu. its the only way forward apart from chipimo
Your insults just show your level of education and poor upbringing
James Kaniokanio your insulting surname shows that you were born from a very small and diseased one. your brain is infact infected from infancy just like your under 5 satanic free mason leader (HH). you should be ashamed of your surname it speaks volumes about your upbringing. grow up
Looks like that mad man who cornered your mother while she was taking a dump in the pit latrine years ago behind your house transfered his genes to you Kudos. We hoped it wouldn’t happen but just look at you. He also used to run around nude in the street with excreta slurping between his butt crack howling unprintables against Tongas. Looks like you are a smaller version of him. That Charcoal burner who raised you is not your real daddy. Stop with the tribal nonsense Kudos. It’s not cool.
With a President who says a co stitution is just a piece of paper, which sensible investor would come to Zambia.
Sir Nyambe you should be tolerant of divergent views. just because i hate the tribal attidude of this ethnic Hutu Heifer (HH) doesnt mean you can attack my character. how will you rule if by miracle your Hutu Headman ascends to state house? tolerance is important. you upnd followers insult me and Sata everyday and he tolerates your verbal dairyhea. (HH) is unpresidential scum the equivalent of goat droppings and nothing can change that even if Mutinta shaves his dirty afro hair. deal with it
but @kudos you sound like an 1diot contradicting your self. you are busy personalizing an attack on HH and then you turn around and say sir nyambe should not be personal. I think he was right to label you mouth sewer outlet because your language on an individual (HH) is so personal one begins to wonder what it is he did to you. may be he screwed your mother and dumped her due to too much water
matipa you know very well the only thing (HH) can screw is those poor beasts in the kraal. wa jata ng’ombe
OMG…where did you acquire these linguistics. You must be one of the privileged few!
back to the main topic at hand. nevers why try to boost your ego about lumwana investors? you’ve forgotten there was a scandal in that deal you orchestrated? what else have you ever done in your political career apart from being fired from Vice President?
zambia is better off focusing on exporting from our produce especially agricultural than waiting for FDI. the problem with FDI is that its just that, an investment from which the investor hopes to realize profit and return to his creditors. you shouldnt be made to believe by illuminati World Bank that you need investors for your economy to thrive. start exporting goods and services, earn forex from exports
Mumba: key leaders of MMD are calling on you to unlead the party, immediately.
How is the performance of the key leaders in their constituencies and how was their performance in their previous Ministries, they should just be patient and let him fulfill his mandate then they can assess his performance at the MMD convention after 2016 and make their decision.
The so-called MMD Key leaders are the ones who contributed to MMD loss.Leave Nevers alone.In fact without him MMD will have nothing to make PF uncomfortable.PF has a plan to remove any credible Bemba Contestant to make it easier fo the PF to amass Bemba votes,otherwise they fear a split.In Southern,Western ,N/W Provinces PF is just on the lips of cadres.Eastern,Central provinces,PF knows they can not make it.So they ‘ve to fight Nevers.But it won’t work.The normal PF members have seen the deceit of Sata.Only the likes of Kamba and Mufulira DC can keep on parroting for the non-vernon Sata/Cobra.
nevers i think you’re totally out of sync with the pf’s direction. the massive infrastructure projects all over the country are an investment for the future. imagine a farmer in chitulika being able to export his produce via a good road to the boarder. read the manifesto before you condemn and blame. why should an investor come with his equipment to a country where there are no roads? it all starts with infrastructure. 20 years wasted by mmd and you were a part of it. 50 years after independence and we are still building the foundation. nevers you had the chance but you failed. you should be very ashamed
Matuvi
the only reason HE MCS left the mmd was because he saw the rot that was taking place in mmd government. he formed his own party so that he could be at the helm and relive some of KK’s dreams of a developed zambia. not all of KK’s ideas were bad. but this nevers still supports the most corrup party that ever walked the earth. the pf needs a minimum of 2 terms to reverse the destruction left by mmd its also a chance for HEMCS to correct some mistakes he made when he was in unip and mmd. Levy is always n exception because copper prices were doing well during his term. well meaning zambians will give pf a vote in 2016 because HE MCS has a plan and it will work
Fcuk HE MCS. The only reason that twerp left MMD was coz Mwanawasa was chosen over him. How the fcuk old were you at the time, 2? Sata was the rot in MMD and it was good riddens he left coz he would have messed up Mwanawasa’s efforts. As for the copper prices, if they were that favourable even now, you dunderheads would still be driving us down the drain you tiny pricked moron.
Why do people that know nothing open their gobs? Old adages stand the test of time for real “Empty tins make the loudest noise” I sometimes question myself whether it’s a good investment of my time analysing issues on this forum as I fear I might be sharing the forum with some lunatics. I think it’s time we started paying for this service to get rid of the idol minds with nothing to add other than always steering any given motion/lead out of its natural remit.
@One Hit Wonder! Attitudes such as yours, are what helped little-educated Michael Chilufya Sata become president of the Progressive Republic of Zambia. When the educated fold their arms and walk away, the un-educated immediately jump into the driver’s seat and take the lead. Clearly, you are frustrated that the country is heading back to ho-hum and you happen to be one of the passengers on board!
Cocky and ignorant PF in the driver’s seat! No shrewd investor will jump aboard a canoe that has no compass, no road map and no captain.
Kudos you the real satana with that skull, especially with all this hatred for HH
The man is rich, he can feed you for life. Leave the man alone, he is not even
President and you hating what if he became President , we would be burrying
you , shocked to death
?
Its the mining companies Sata messed around with screwing us. Just a Thot.
KUDOS! >>>>>> IS A FOUNTAIN OF WISDOM. You re doing a great Job to try and make these educated fools what development entails in a long term.
PF requires a minimum of 2 terms to open up this virgin country.
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