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The Zambia Wild Life Authority (ZAWA) is planning to translocate more wild animals into the Nsumbu National Park in Northern Province.
ZAWA Senior Ecologist, Chuma Simukonda, revealed that the plans to increase the number of animals in the Nsumbu National Park were in line with government’s enthusiasm to develop Kasaba Bay, which is situated in the park.
Mr. Simukonda revealed this in Kasaba bay when a team of Ministers, led by Finance Minister Situmbeko Musokotwane toured the area yesterday.
He revealed that money has already been set aside for the translocation of wild animals from South Africa, among them 340 elephants.
“The population of some animals in the park is not health due to heavy poaching. This means that if we are to attract more tourists in line with government’s efforts to develop this area, we have to ensure the animal population improves,” he said.
He noted that animals that need to be beefed up include the Zebra, buffalo, sitatunga, eland, kudu and sables.
“We however will this year translocate 340 elephants, 150 buffaloes, 100 Pukus and 10 sitatungs. We did translocate some last year into Lusenga and this year our focus is on this park,” he explained.
And speaking in an interview with ZANIS, Nkamba Bay Lodge Manager, Philip Nielsen expressed concern at the extensive poaching activities in the Nsumbu National park where the lodge is situated.
Mr. Nielsen said the population of animals in the park was bad, adding that there was need for government through ZAWA to beef up the existing population.
He however expressed gratitude to government for its planned efforts to embark on the Kasaba Bay Resort Development project, which he said would enhance tourist arrivals in the area.
He said once the Kasaba-Bay Resort Development project turns into reality, the area would be the most preferred tourist destination in Africa, adding that it will also geographically enable tour operators in East Africa to link up with those in Zambia.
He has since called upon government to speed up its efforts towards achieving the dream for the project, which he said would not only benefit investors but create more employment for local people.
Lufubu River Lodges Limited, the owners of Nkamba Bay Lodge pumped in more than US$2 million to rehabilitated the once run down Nkamba Bay lodge in 2004.
The lodge officially opened last year and has a bed capacity of 27 and management is planning to put up more buildings.
Dr. Musokotwane’s team included Tourism Minister, Catherine Namugala, Commerce, Trade and Industry Minister, Felix Mutati, Lands Minster Peter Daka, Local Government and Housing Minister Ben Tetamashimba and Energy Deputy Minister Allan Mbewe.
The objective of the tour for the team was to inspect and familiarize themselves with the Northern Tourism circuit, whose special attention is on Nkamba-Bay Resort Development project.
The Nalikwanda being paddled to the Limulunga harbour
Walking, riding bicycles, canoeing and flying, thousands of people of different ethnic and social-economic backgrounds, thronged the capital town of Western Province, Mongu, to witness a very special occasion, the Kuomboka ceremony of the Lozi people.
Clad in all sorts of attire were revelers from near and far, from Kalabo, Lukulu, Sesheke, from literally all the districts of Western Province, from South Africa, Namibia, Japan, Angola, the United Kingdom, and many other countries, you name them.
The presence of Chief Mumena of the Kaonde people, Chief Nsama from Samfya, Chieftainess Kanyembo from Kazembe and Chief Bwalya Musonda also from Samfya, and above all, Zambia’s fourth Republican President Rupiah Banda who graced the occasion, signified the high esteem that is attached to the Kuomboka ceremony. Proprietor of National Milling…Cotton was also there.
ZNBC and ZAIN were equally on the scene doing their promotions of television licensing and subscriber wooing respectively. The Kuomboka traditional ceremony is over three centuries, according to the traditionalists accosted.
To lodge owners, the celebration of the Kuomboka ceremony was a great blessing in business terms. Lodge room rates suddenly skyrocketed to alarming levels. The smiling faces of the expectant spectators were transformed into sorry sights of sadness as they criss-crossed Mongu Town in search of cheap accommodation which was had to come by.
With a mocking smile on her face, one of the lodge proprietors …proudly told a group of public service workers from Lusaka that she was renting her six-roomed house for four million [ K4,000,000] ‘only’ to those interested in occupying it during the duration of the Kuomboka ceremony.
The poor public service workers disappeared from the scene without uttering a single word, but unfortunately wherever they ventured, they were not amused, as the scenario was basically the same, a K35,000 room suddenly tagged at 150,000, the one for K80,000 raised to K400,000, that for K250,000 lifted to K1,000,000. No wonder when it was time to go back home, most people’s pockets were full of holes.
However, the merrymakers were compensated for in a different way, the scintillating flamboyance of the colourful Kuomboka ceremony.
The ceremony was preceded by President Rupiah Banda’s touching down in a newly acquired Zambia Air force plane at Mongu airport at exactly 09;00 hours on Saturday, 11th April, 2009.
President Banda was received by a group of Cabinet Ministers, Deputy Ministers, many other high ranking government officials and representatives of the Barotse Royal Establishment. Also on hand to receive President Banda were MMD party members, youths, hundreds of local residents and traditional dancers who entertained the people present before the President talked to the crowd, preceded by a song of tribute sang by the MMD New Deal choir.
The President started by saying the new era in which Zambia has found itself is for all the citizens of this country. He thanked the Litunga, all the royal highnesses of Barotse Royal Establishment and all the people of Western Province for the huge support they gave him and the MMD, which saw him defeat the other presidential aspirants in the October, 2009 elections to enable him continues with the successes of the late President Levy Mwanawasa.
The President assured the crowd that good things were coming and that Zambians should be patient as the 2009 national budget had been announced two weeks prior to his visit to Mongu.
He assured the nation that this year’s budget was meant to address the problems of all Zambians wherever they are and that he would, together with his loyal Ministers, Permanent Secretaries and other leaders continue to respect and work for all Zambians, regardless of all the insults and bad things being uttered about him by those in the opposition and other circles.
President Banda urged the electorate countrywide to block bad, tribal and insulting people from governing the nation, by voting wisely. He called for continued peace and unity in the nation for Zambia to forge forward with its development agenda, citing some neighbouring countries where he said there is unrest and wars because of the absence of peace, love and unity.
The President further said although the construction of the Mongu/Kalabo Road will not be an ease task, it will nevertheless be accomplished. President Banda later an aerial view of the floods situation on the banks of the Zambezi River, which he described as a story of devastation involving the destruction of houses, crops and animals belonging to over 483,000 people.
At exactly 16;25 hours, on the D day, clad in the Lozi traditional gear, President Banda sat, surrounded by thousands of onlookers and dancers, waiting for the arrival of the Litunga at Limulunga. On both banks of the canal leading to the Litunga’s palace were dizzying crowds of people eagerly staring in the direction from which the Litunga’s big boat would come from Lealui.
At 16;41 two small canoes appeared at the corner of the canal heralding the coming of the Litunga. The two boats made a U-turn to report to the escorting the paramount Chief that all is well, the Litunga can proceed.
Soon the sound of the solemn big drums could be heard, accelerating the ululating and singing into top gear much to the excitement of the onlookers who included tourists.
When it was time for the moment everyone was waiting for, the Litunga’s royal boat with a symbolic elephant on the roof of the paramount chief’s shelter majestically appeared, paddled by more than a hundred powerful men including President Banda’s Political Adviser, Akashambwatwa Mbikusita Lewanika.
Following closely behind was the second boat ferrying her royal highness the Litunga’s wife sitting in a shelter on whose roof was a symbolic hen opening and shutting its mouth in a rhythmic manner.
In the third boat were the British Ambassador to Zambia, the royal family’s children and belongings. The three boats made three U-turns accompanied by frenzied drumming and singing before finally stopping to let the Litunga and everybody else disembark.
At the arena at the palace, the paddlers and the members of the royal family danced their lungs out, much to the enchantment of the onlookers, before the delivery of speeches by Litunga’s Ngambela, the Provincial Minister Adonis Mufalali and President Rupiah Banda.
The President described the Kuomboka ceremony as a master piece of oral and intangible cultural heritage for Zambia and the world at large.
He said he was happy to work very well with the educated Lozi sons and daughters and once more thanked the people of Western Province for their continued support, love and loyalty to the New Deal government.
President Banda reiterated that government was assessing the damage caused by the floods in Western Province and that relief supplies would be sent to the affected people soon to mitigate their sufferings.
Earlier, the Ngambela expressed happiness that the Barotse Royal Establishment was working was working well with the government.
The Ngambela thanked government for its timely response to the floods situation in Western Province and for the development programmes taking place in the region. He however appealed to the Government to do more for the people of Western Province.
Speaking during the same occasion, Western Province Minister, Adonis Mufalali said President Banda’s presence was a clear testimony of government’s serious commitment to the Kuomboka ceremony.
He described the Kuomboka ceremony as a unique showcase of the rich Lozi culture and the migration of the Litunga from the flooded Lealui to the higher Limulunga ground and appealed to government to consider the ceremony as part of tourist attraction.
The other dignitaries who attended the Kuomboka were the First Lady Thandiwe, Finance and National Planning Minister, Dr. Situmbeko, Labour and Social Services Minister, Liato, North Western Province Minister, Joseph Mulyata and Community Development Minister, Mike Kaingu among others.
It was the conviction of all the people that attended the ceremony that the Kuomboka is indeed the mother of all traditional ceremonies in terms of pulling crowds. The President returned to Lusaka on Sunday 12th April, 2009.
Chinese Collume Coal Mine (CCCM) Management in Sinazongwe district has appealed to government to assist the mine company in requesting companies that are importing coal from Zimbabwe to start buying its coal .
The two Director from CCCM shaft two and three Xu Zian Rui and Xu Quin said the company has produced abundant coal since it resumed operation in February after it was closed for one month.
The Directors told ZANIS in Sinazongwe in an interview that the mine has no market to sale its coal as most of mining companies in the country are importing the commodity from the neighbouring Zimbabwe.
Mr. Xu said the major customers such as Lafarge Cement Zambia , Konkola Copper Mine (KCM) and other mining companies in Zambia were importing their coal from Zimbabwe.
He said the coal price in Zimbabwe was even higher than the price they were offering.
The two Directors said the scenario was affecting the workers who have been temporarily told to stop working because they have produced coal in abundance.
Mr. Xu noted that the company would be forced to close the mine if the Zambian companies fail to buy the coal they producing as the mining company had no where to sale the commodity.
He said the Zambian companies should be buying the coal from them to protect local jobs and to assist in improving the country’s economy.
“The government should assist us to save the mine from collapsing and save the jobs for employees. At the moment the workers are not motivated because they have no money,” Mr Xu said.
Mayn Nchu the Manager for Shaft One said the failure by the Zambian companies to buy coal from them was affecting the workers and the operation of the company.
“We have too much coal but we have no customers and our coal here has a reasonable price as compared to the imported one,” Mr Nchu said.
A check by ZANIS at the mine found that they were no trucks waiting to buy coal as was the case some three months ago when trucks were queuing for the product.
The workers talked to said the closure of the mine in January affected the business as most of their customers placed orders to buy coal in Zimbabwe for period of six months up to June this year.
President Ruipiah Banda has declared Friday, April 17th, 2009 a day of National Mourning for late Freedom fighter Chitalu Sampa.
President Banda has decided to declare a State funeral for the late Mr Sampa in recognition of his distinguished service to the nation.
Mr Banda has declared Friday, April 17th, 2009 a National Mourning day starting from 06:00 hours to 18:00 hours. All flags will fly half mast and activities of an entertainment nature should be postponed or cancelled.
This is contained in a release signed by Acting Secretary to the Cabinet Robert Mataka and received by ZANIS this evening.
The Late Mr Sampa, who served as Mines Minister, Home Affairs Minister and Defence Minister, respectively, passed away yesterday,at the University Teaching Hospital.
Funeral gathering is at House Number 7 Mukonka Close, in Rhodespark off Great East ROAD . Burial will take place at Old Leopards Hill Cemetry and would be preceded by a church service at the Cathedral of the Holy Cross.
Bwanamkubwa member of parliament says a member of parliament should not use own resources to develop a constituency from his personal resources because that was the function of the government.
Mr. Joseph Zulu disclosed this during a meeting with the Clergy in Ndola during a question and answer session.
He said the member of parliament was a representative of the people’s wishes and views from his constituency through advocacy to the executive wing of government which was the implementer of developmental programmes countrywide.
He said it was unfortunate that during elections, many political candidates traded lies to woo votes from the electorates but the situation should change for the better so that the electorates should elect people who would effectively perform their roles once elected.
He said a member of parliament also plays a role in enacting and making laws for the good of the people when in parliament.
He said it was important for the electorates to vote for people who could understand the process of law making for them to make a meaningful contribution after considering the implications of the bill under consideration in parliament.
He said the member of parliament also plays the role or providing an overseeing role of what government was doing and not doing in their respective constituencies so that government was made to respond in go time to issues affecting the people from their sending constituencies.
He advised that it was important for the electorate to send people with the required capacity to lobby for development for their constituencies because the caliber of some members of parliament left much to be desired as they could not articulate issues effectively.
He added that the member of parliament also plays a role in ratifying certain appointments made by the executive wing of government because such appointments needed scrutiny from parliamentarians especially where it involved persons that needed to serve the nation at a higher level in commissions, the judiciary and other bodies that needed parliament to ratify.
Mr. Zulu advised that the member of parliament should be one who understand how government operates and the electorate also should be actively involved with their elected leaders to foster development in their areas.
ZANIS/CN/EML/ENDS/MM
The International Organization for Migration ( IOM ) has donated to the Vice President’s Office relief materials to address the floods situation in the country.
The donation was made to Disaster Management and Mitigation Unit ( DMMU ) comprising tents, wheel barrows, hoes at a total cost of US$33 million dollars and were received by Vice President George Kunda .
And Mr Kunda said the just ended 2008/09 rain season has caused extensive damage to food crops and infrastructure across the country.
The Vice President said the damage to infrastructure indicates that the cost of repair of roads and bridges will be challenging to the government as the impact of heavy rains and floods on crop yield in some parts of the country is expected to be server.
The vice president thanked IOM for coming to the aid of government to solve some of the problems that resulted from the floods.
He noted that government also appreciates the reliable partnership that exists between IOM and reliable partners in the settlement and resettlement of Zambian citizens who migrate from across the world.
And speaking earlier IOM chief of mission Josiah Ogina said his organization will continue to support government’s efforts in capacity building to strengthen the service delivery to the affected areas.
Government has disclosed that approximately two million people are currently affected with bilharzia in the country.
Minister of Education, Geoffrey Lungwangwa, said bilharzia prevalence rate is currently estimated at 90 per cent in some communities, a situation that has affected the performance of pupils and growth of children.
Professor Lungwangwa disclosed this today when he officially opened a training workshop for teachers on bilharzia and soil transmitted infections in Lusaka..
He said it is important to treat bilharzia and intestinal worms at an early stage because it could affect fertility in women and kidney damage in men.
Professor Lungwangwa noted that bilharzia was found in all the provinces and districts in Zambia, particularly those found near lakes and rivers.
He added that infections such as intestinal worms are very common throughout the country, which might result children and pregnant women having anemia.
Professor Lungwangwa said the training of teachers will go a long way in fighting the prevalence of the disease at the source among communities.
He said at the end of the training workshop, the teachers will have the capacity to assist in fighting the diseases in the country.
And speaking at the same occasion, Egyptian Ambassador to Zambia, Nuri Betel Mal expressed happiness at the turnout of teachers and urged them to ensure that they disseminate information in their communities and schools.
Mr. Mal said that the training has been sponsored by the Arab League Fund, which is aimed at providing technical assistance to African countries in fighting diseases such as bilharzia.
Zesco United on Thursday head to West Africa for the second time in 30 days after earlier disposing Africa Sports of Cote d’Ivoire in the Caf African Champions League 1st round.
This time, Zesco travel north of the border into Mali to face Djoliba in Bamako on Sunday in a Caf African Champions League 2nd round, 1st leg match with kickoff scheduled for 18:00 Zambian time.
This will be Djoliba’s first match against a Zambia club in African club competition since 1982 when they lost to Power Dynamos in the semifinals of the defunct Caf Cup Winners Cup.
Meanwhile, Zesco will be without defender Roger Kamwandi due suspension while fullback Hichani Himoonde is fit after featuring in the sides last two league games following his recovery from a broken metatarsal that he sustained last December.
Winner will qualify to the lucrative group stage of the African Champions League while the loser will be relegated to the last 16 stage of the Confederations Cup that kicks off during the weekend of May 15-17.
Zesco reached the 2nd round stage after beating Africa Sports 2-0 on aggregate on April 4 in their 1st round, return leg match played at the Trade Fair Grounds in Ndola following a scoreless draw in the 1st leg played in Abidjan on March 14.
Meanwhile, Red Arrows left for Egypt on Wednesday ahead of their Caf Confederations Cup 2nd round, 1st leg match against Egyptian club ENPPI in Cairo on Sunday.
Winner will advance to the pre-group stage of the competition that kicks off during there weekend of May 15-17.
Zesco Team:
Goalkeepers: Jacob Banda, Charles Chisha
Defenders: William Chinyama, Chalwe Kabamba, Hichani Himoonde, Nyambe Mulenga, Kunda Mushota
Midfielder: Yona Mwango, Mathews Chikwete, George Phiri, Lotti Phiri, Maybin Mwaba, Josphat Nkhoma, Jonas Sakuwaha
Strikers: Enoch Sakala, Ben Martins, Nicholas Zulu, Clifford Chipalo
The Road Transport and Safety Agency (RTSA) is devising another strategy that will help it to effectively curb the use of small buses on intercity routes.
RTSA Public Relations Officer, Mukela Mangolwa, told ZANIS in an interview in Lusaka today, that the use of small buses on intercity routes was against the stipulated traffic rules.
He said RTSA would take stern action against bus operators that were flouting the laid down traffic rules which are meant to promote road safety in the country.
Mr. Mangolwa warned that those found wanting risked being fined and ultimately have their operational licences revoked.
He said the agency had been conducting road patrols to ensure that public transport operators observed traffic rules to guarantee passengers’ safety.
And when asked what the agency was doing to ensure buses operating on the international routes complied with the traffic rules, Mr. Mangolwa said RTSA always ensured that the buses that operate on international routes were of acceptable standards before issuing them licences.
Mr. Mangolwa however, stated that the agency also depended on information from the public for it to enhance its operations.
He has since advised the public to report to RSTA, any bus operator who did not comply with the laid down traffic rules and regulations.
President Banda (in red dress) escorts the King to board the NalikwandaThe Movement for Multiparty Democracy (MMD) in Western
province has dispelled reports that President Rupiah
Banda was no longer popular in the territory.
Western Province MMD Treasurer, Michael Kaingu said media reports suggesting that people walked away when President Banda was speaking in the province recently was not true.
Mr. Kaingu, who is also Minister of Community Development, argued that to the contrary, he said President Banda and the MMD were still more popular in the area as compared to opposition United Party for National Development (UPND) and the Patriotic Front (PF).
He explained that people listened to President Banda’s speech attentively and therefore, there was no one who left the arena.
“People should not be denting the name of the President. They should not be attacking the President like that. It is high time we started respecting our President,” he said.
Mr. Kaingu also explained that the Litunga was also happy with the work President Banda was doing in the country and in the province especially in the response to flood victims.
He said government had worked hard to ease the sufferings of the people who have been affected by floods, the development that has earned the MMD government a good name.
Zambia Prisons Services Commissioner, Gibbie Nawa, says more than 10 million people in prisons across the world have been seriously affected by the HIV/AIDS pandemic.
Mr. Nawa said most countries in the sub-Saharan region have a higher HIV prevalence rate among their prison populations than the general population of the same countries.
He said a decade ago, the Zambia Prison Service carried out an HIV prevalence survey which showed that the prevalence rate of the pandemic in prisons varied from that of the outside population.
He was speaking at the official opening of a three-day training workshop held for prison service officers-in-charge on HIV/AIDS in Kabwe yesterday.
The training workshop is aimed at providing prisons leadership with information on how to reduce stigma and discrimination in order to help both prisoners and officers accept their status.
Mr. Nawa also noted that Zambian prisons officers are at high risk of contracting and spreading HIV due to the nature of their work.
A local economist has observed that the Zambian economy will not recover quickly from the prevailing global economic meltdown because of the unstable and lower price of copper on international market.
Mr. Chibamba Kanyama said unless Zambia focuses on its internally generated recovery efforts such as local manufacturers, which can exploit the current Kwacha depreciation to compete against foreign imports.
Mr. Kanyama, who is also Zambian Breweries Corporate Affairs Director, told ZANIS in Lusaka today Zambian Breweries is one such company that has targeted the regional market, whose demand is still reasonably high.
He said the other avenues that could help the Zambian economy to recover would be depending on the performance of the motor industry that considerably consumes copper products, which is one of the major earners of foreign money for Zambia.
He predicted that the Zambian economy will recover after government has worked on its own economy with targets that are identified through increased investments which could attract Zambian consumers.
Mr. Kanyama however said companies such as general motors are under-going intensive restructuring programmes owing to challenges of bankruptcy.
He further explained that economic recovery may not be done in one year because the price of copper on the global market is still dampened by speculators believed to be from china.
He said the recovery of the Zambian economy cannot be compared to developed nations because the appearance of marginal economic recovery in countries such as the United States was only a signal that the current global recession will be contained in the near future.
Mr. Kanyama however said the reverse of a turn around takes several years to positively affect poor economies.
He pointed out that the seemingly glimmer of hope of recovery in the US is too minimal to translate into global economic recovery, adding that this is only seen in some price rises for certain stocks.
The shortage of mealie-meal has continued to bite in Lusaka and other areas. Here Lusaka residents mob a National Milling Corporation outlet for the commodityBy Pezzy Kudakwashe
We are going through tough times. My heart bleeds for the many innocent Zambians who will go without food during this time of financial crisis. It aches
for those who will die from the combination of disease and the lack of food.
I have a feeling that the majority of Zambians are not aware of the crisis because they live in the remotest areas of the country. However, despite their not knowing of the financial crunch, I suspect that through instinct some of these people can now tell that things are not normal. I am positive that some can adequately sense the food crisis in their general surroundings.
With the odds seemingly working against us, my faith assures me that Zambia could come out of this situation safely, but only if we pull together in one direction as Zambians. Everyone should be involved.
Right now, we could suspend most of the programs targeted by the constituency development fund and redirect the funds towards food security for the constituencies by purchasing and stocking maize for a rainy day. The churches can come out in full support of this program by offering their facilities for food storage. We see in the Bible how God used Joseph to create food reserves crucial in a time of crisis. The schools can also chip in by stocking food provided through the diversion of constitutional funds. At this point, we need food security more that buildings.
It is time we Zambians began to deliberately take steps aimed at serving our fellow citizens. We have the ability to plan for a better future. It is time the political parties, the churches, schools, civic organizations, and every honest Zambian came together to build one healthy Zambia, as was tried in the past by our first president, Dr. Kenneth Kaunda, as evidenced by his slogan, “One Zambia, One Nation.”
Such an ambitious program can be done.
For the first time, we could see every Zambian church and denomination plough back the funds contributed by their members to provide Sunday meals for its needy people. What would it profit the church to keep a fat bank account while people were dying of hunger? What if, as Zambians, we turned Saturday or Sunday into a day when those who can afford an extra meal (not only the rich) could feed one extra, hungry person? Why can’t we reach a day when those with two coats can resolve to give one coat to another? Wasn’t this the message that Jesus preached? If only Zambians could come together and help each other for the sake of Mother Zambia, this depression would have a lesser effect on our nation.
We cannot wait for the government to provide. It has failed us in the past and is still failing us by allowing drug stores to distribute expired drugs to our sick and by allowing smugglers to sell our much-needed maize at the expense of the voiceless Zambians. The government has failed us by awarding itself huge salaries at the expense of good health care for its own citizenry. It has failed us by spending millions of dollars importing luxury vehicles at the expense of allowing dubious transporters to run defected passenger fleets that are killing our people daily on Zambia’s roads.
It’s time for every ordinary citizen to raise up and help a fellow Zambian. Let’s get back to the real Zambian culture, where young people can help the elderly without expecting anything in return. It’s time we began to value Zambian life more today than ever before.
The private sector has urged government to consider consulting other stakeholders when implementing decisions concerning the economy of the nation.
Private Sector Development Association (PSDA) chairperson, Yusuf Dodia, has said the private sector could play a vital role in the economic growth of any country if allowed to give its views.
Mr. Dodia told ZANIS in an interview in Lusaka today that there was need for government to work closely with the private sector when implementing measures aimed at strengthening the economy.
Mr. Dodia, who was commenting on the recent directive by the Bank of Zambia (BoZ) to ban non-residents from borrowing kwacha from commercial banks, said there was need to consider involving other partners in ensuring that the economy was protected at all times.
He explained that BoZ was also supposed to include other stakeholders and have an in-depth analysis of the current economic situation in the country before effecting the move.
He noted that with the current global recession, the central bank should be working out modalities that would protect the economy and attract more investment in the country.
Mr. Dodia further explained that banning of non-residents from borrowing the local currency will negatively affect foreign investment in the country because many foreign investors will find it difficult to do business in Zambia.
The PSDA chairperson noted that for any economy to be stable, there must be a combination of both the foreign and local investment.
Mr. Dodia added that this is why the BoZ should have consulted both the local and foreign investors to come up with proper measures that would not only protect but enhance economic development in the country.
Last month, the central bank introduced the monetary policy measure of banning non-residents from borrowing the kwacha in a bid to strengthen and protect the local currency from further depreciation.
The Kwacha has in the recent months depreciated against major foreign currencies by over 60 per cent.
