ZAMBIA NOW INVESTORS PARADISE
…Solid policies have restored investor confidence – Kabuswe
THE United Party for National Development (UPND) administration has transformed Zambia from a 2 per cent growth economy into a darling of foreign investors through debt restructuring and policy stability, former minister of mines Paul Kabuswe has said.
In an interview Kabuswe said the stabilisation of the entire economy, which was growing at just 2 per cent when UPND took office, had restored investor confidence thanks to the exceptional leadership of President Hakainde Hichilema.
He said the restructuring of Zambia’s choking debt which had piled up under the previous administration had freed fiscal space for development.
“Now that the country’s economy is showing positive signs, investors have continued to pick Zambia. No investor would want to put money in an unstable economy,” Kabuswe said.
He noted that Mopani, KCM and Lumwana mines were now back on track as a result of renewed investor confidence.
Kabuswe said the agriculture sector had been industrialised through mechanisation and fertiliser plants targeting regional export markets.
He said inflation, which was at 24 per cent when UPND formed government, had been reduced to below 6 per cent, while the Kwacha had been declared the best performing currency by credible international bodies.
Kabuswe said 30,000 jobs had been created and suppliers were being paid on time, with Kitwe City Council receiving over K80 million.
“This has helped Kitwe City Council pay retires and suppliers,” he said.
“The resuscitation of the country’s revenue base had boosted CDF, which was benefiting Zambians in all constituencies.
“Which is why we want President Hakainde Hichilema to continue with his trajectory in uplifting Zambians’ welfare,” Kabuswe said.
UPND Media
