• President Hichilema’s economic platform is based on private sector-led liberal market reform.
• ZACCI is confident the new Government will firmly secure IMF economic program.
• ZACCI is also ready to contribute at discussions on the current unsustainable debt.

Zambia Chamber of Commerce and Industry (ZACCI) has advised Government to call for additional submissions towards the 2022 national budget.
Chamber President Chabuka Kawesha told Money FM News that this is to allow the industry and government revisit the direction of all economic sectors.
And Dr. Kawesha expressed confidence that the new administration will secure an International Monetary Fund (IMF) economic program and associated $1.3 billion loan before this year ends or within the first quarter of 2022.
“ZACCI is also ready to contribute at discussions on the current unsustainable debt situation and well as debt management going forward. In line with these engagements, we call upon the new Government to call for additional submissions towards the 2022 national budget to allow industry and the government revisit the direction of all economic sectors,” Dr. Kawesha said.
He further appealed to the private sector to collaborate with public sector and participate in the country’s current economic drive.
“President Hichilema’s economic platform is based on private sector-led liberal market reform, which bodes well for us as a Private Sector, the IMF program, other international investors and global players targeting Zambia with whom partners can be pursued and we welcome his approach and vision,” he stated.
Meanwhile, Dr. Kawesha commended President Hakainde Hichilema’s key pronouncements in his inaugural speech yesterday.
He said the pronouncement on Economic Cooperation, Trade and Investment for development creates an assured platform that builds confidence and comfort for entrepreneurs to take reasonable risks.
Dr. Kawesha added that the Chamber is looking forward to working with the new administration in all economic sectors such as agriculture, energy, technology, mining, tourism, environment sustainability among others.
“The President’s call to create and set Zambia as an energy surplus nation and indeed a net-exporter of electricity to other countries elates ZACCI and we anticipate the acceleration of the outstanding reforms to see the implementation of cost reflective tariffs and lowered taxes in the electricity sub-sector. Electricity is a key catalyst to all areas of industry and livelihood.”
“The national development for job creation, mineral diversification and processing, successful broader agriculture initiatives, a green economy and protecting the environment spoken to will only be achieved with reliable and adequate electricity energy. The energy mix the President spoke of can see Zambia deploy more than 1000MW supported with investment in new transmission and distribution infrastructure over the next 3 years and the private sector stands ready to collaborate and invest,” Dr. Kawesha added.
On Tuesday 24th August 2021, President Hakainde Hichilema was sworn in as Zambia’s 7th Head of State with an assurance to revive the economy.