Five Key Takeaways From Yesterday’s Press Conference
Yesterday’s press conference marked the end of the first quarter of 2022, during which Zambian President Hakainde Hichilema outlined the key successes and opportunities facing the country in the coming months.
Overall, the message was clear: the New Dawn government has placed Zambia in a position of immense opportunity, with economic prosperity within its reach. So far the economy has been stabilising with inflation falling and the exchange rate steadying. During his speech, the President stated that now is the time to embrace the private sector, generate growth and achieve manifesto promises.
Although the President’s speech covered a magnitude of topics, here are the top five takeaways:
1. The Government ’s Clear Commitment To Removing All Forms Of Corruption
During the conference, the President reiterated his commitment to stamping out corruption in all forms. He stated that there was no room for corruption and maintained the party line that no one is immune to the rule of law. He outlined the government 's substantial headway, stating “Over the past eight months, we have made significant progress in our view, in the fight against corruption, with a number of cases opened and many assets reclaimed.”
Furthermore, the President once again tackled the Milingo Lungu allegations head on. He denied that the government had offered Lungu an immunity deal and that the Director of Public Prosecutions is has not received instructions from the State House.
2. Debt Restructuring And The Commitments Of China
Since the beginning of his governance, President Hichilema has outlined that for the country to experience economic prosperity it must first tackle its debt problem. During the conference, he outlined how the first steps towards this have now been taken with Zambia progressing into the second phase of restructuring with the IMF. He stated that the restructuring will help “create room to release resources towards debt servicing in the economy to create jobs and grow the economy.”
Another victory was also announced with the declaration that China would engage in the debt restructuring. This comes after false allegations suggested that the President had failed to negotiate with them. The President thanked China for joining Zambia in working towards a common framework agreement to resolve the debt crisis. The resolution of Zambia’s debt reflects a key step forward in enabling the economic prosperity of the country.
3. The Launch Of The Public-Private Dialogue Forum For Development
Another key takeaway from the conference was the announcement of the Public-Private Dialogue Forum. During his speech, the President outlined the importance of the private sector as an “engine of growth.” Further stating that it plays a fundamental role in attracting investments and generating employment. Further, he disclosed his commitment to unlocking all the challenges that impede the growth of the private sector. The facilitation of this dialogue, alongside the support of the New Dawn Government , will ensure that the private sector is supported and can reach its full potential.
4. The Progress Being Made On The Mopani Mine
Following the acquisition of the Mopani mine by the government in January last year, the President disclosed that they are close to finding an investor. The process of finding the right fit for the mines has been fraught, with the Zambian government reiterating that when looking for a company the people of Zambia come first.
Further, the President denied reports that it planned to hand back the Konkola Copper Mines (KCM) to India’s Vedanta Resources. He stated “I have seen media allegations that we want to give KCM to Vedanta – those are falsehoods, that’s not true. We want to unlock KCM. It’s a Zambian asset and nothing should stand in the way so that the people of the Copperbelt and Zambia can benefit.”
5. The Encouragement Of The Freedom Of The Press
During the conference, the President also encouraged the press to take advantage of the lack of regulations facing them. Whilst expressing his thanks, he told them to “take advantage of self-regulation, it’s a side issue, comment on, organize yourselves, I am encouraging you.” He also warned against the publishing of fake news and the confusion it generates, stating that media outlets must work with the government to ensure that the media is not circulating falsehoods.
Photo: Andy Buchanan/AFP