Zambia Government Reaffirms Commitment to Economic Stability

President Hakainde Hichilema has affirmed the Zambian Government's unwavering commitment to navigating and overcoming economic challenges through a series of strategic interventions. Speaking at the official opening of the 59th Zambia International Trade Fair (ZITF) in Ndola, in a speech delivered on his behalf by Minister of Finance and National Planning Situmbeko Musokotwane, President Hichilema conveyed a bright economic outlook for the country, underpinned by resilience and innovation. The Head of State reiterated the Government's ambitious agenda to transform the nation's economic landscape, emphasizing a robust partnership with the private sector.
A core pillar of this economic transformation is the significant revival of the mining sector. The Government has successfully reversed the previously gloomy prospects of the sector, witnessing a resurgence of mining activities in key areas such as Kitwe, Mufulira, Chililabombwe, and Chingola. Furthermore, older mines at Luanshya, Lubambe, and Kalengwa have been reopened, demonstrating a sustained vision for resilience. Looking ahead, the Government anticipates the opening of brand-new mines in Mumbwa and Mingomba in Chililabombwe, signaling a robust expansion of the sector.
This anticipated scale of mining production is set to create thousands of direct and indirect employment opportunities across various fields, including drivers, mechanics, and electricians, with additional jobs emerging within the haulage sector. Concurrently, the President highlighted that major railway networks like Tazara and Zambia Railways are poised for revitalization, driven by the increased transportation of mineral products. To further champion mineral haulage, the construction of the Lobito Railway is actively underway, reinforcing the infrastructure necessary for economic growth.
Beyond mining, President Hichilema also detailed governmental actions aimed at enhancing resilience within the energy sector. Recognizing Zambia's long-standing dependence on hydropower since 1964, the Government is proactively addressing the country's electricity challenges. A significant target has been set to generate an additional 1000 megawatts of capacity using non-hydropower sources. This represents a substantial addition to Zambia's energy portfolio, considering that the nation has generated 3,800 megawatts of capacity from 1964 to the present. The President underscored that achieving this 25 percent increase in current capacity within a single year reflects an accelerated pace that, if maintained historically, would have ensured Zambia's energy self-sufficiency long ago.
In closing, President Hichilema extended commendation to the private sector for their unwavering resilience and determination amidst the challenges the country has faced over the past three years. This partnership is seen as crucial for the continued positive trajectory of Zambia's economic development.