By Jones K. Kasonso
It is heart-breaking that our politics in Zambia are no longer a platform to solve the critical problems of the country. Our politics have become arid of truth and devoid of substance. Consequently, our elections in recent years have become wantonly meaningless and costly adventures. Our politics as they are being conducted by the current crop of political players, especially those in power and with the opportunity to make a difference, are so apathetic to reason. We urgently need a change either in personnel or methods or both.
Zambia’s current level of poverty in the sub-region is only comparable to war-torn Zaire (DRC) and heavily sanctioned Zimbabwe. Yet our political players focus on tribalism, primitive, childish banter and character assassination as the basis on which they become elected. For example, there is a by-election in Chilanga Constituency, the poverty of the people and how to help them have already taken a backseat. The PF and some UPND members have decided that the main issue is a crime for which the opposition candidate was already acquitted by the courts. This kind of thinking must stop. We are a better country. This is real life, we all know there are skeletons in everybody’s closet and there are no perfect candidates for any party. Elections ought to be about a choice between alternative programs rather than a game of imperfect people making fun of each other. Like what in my mother’s village they called “Bakolwe balasekana ifipato” (monkeys laughing at each other’s backsides).
We need to raise our game. We must accept or reject political players based on their pedigree and plan. Our politics should be about who is best positioned, to help lead the processes and programs to improve the welfare of our people. For example, 60.5% of our people in Zambia including Chilanga Constituency are living below the poverty line. In the sub-region, this level of poverty is only comparable to 63% of the population who live below the poverty line in the war-torn Democratic Republic of Congo. With a GDP per Capita of $4000 so much higher than the DRC’s paltry $800, how can our poverty levels be identical? What is wrong with us? Where are the programs to improve the welfare of our people? We can’t be this heartless my countrymen and women. People are struggling to make ends meet we can’t turn our politics into monkeys laughing at each other’s backsides while poverty and the foreign investor community are quietly fleecing the Republic. To lead the way of issue-based politics, I continue to beat the drum for statecraft that resolves endemic problems.
In this article, I address the structure of the investment portfolio in the mines as an explanatory factor in the financial position of Zambian families. It’s imperative to consider the structure of the investment portfolio in the mines by reviewing the history of investments in mines, the current state of investments in mines, and the best way to resolve the First Quantum Minerals tax bill.
The History of Investments in Mines
Our history as a country is rooted in a prominent company that established industry in our ancestral lands. In the pre-independence era, the economic activities of the private multinational company called the British South Africa Company were a critical historical factor that brought disparate kingdoms of our forefathers into a cohesive interconnected people group and became Northern Rhodesia. For more than seven decades, the investment portfolio of these lucrative industries was private and foreign. Our forefathers were mostly communities of hunter-gatherers while a few were herdsmen who became co-opted as apprentice workers in the industrial mines established in the territories of present-day Zambia by western entrepreneurs. The purpose of the foreign private enterprise is not to improve or develop the country as a whole. It is to maximize economic benefits for its stakeholders. In those days stakeholders were the owners only, and the workers were the second class.
However, as enlightenment increased our fore-bearers started to see that the people who came and established mining industries were in it for themselves. The entrepreneurs were profiting from the copper mines at the expense of the owners of the lands, so our people started to organize themselves into groups such as the mine workers union. Our forefathers saw the difference in economic fortunes between the owner class, and the worker class and they started to fight for better conditions of service. They began to see that access to a better quality of life depended on more indigenous people participating in these lucrative enterprises. It was this awareness and the brutality of the colonial regime that led to the struggle for independence.
In the post-independence era, the government nationalized the copper industries. The investment portfolio became public and less focused on profit and return maximization. For three decades, revenues from the copper mines were used to fund public policy and nation building. The copper mines of Zambia, employed, educated, and empowered the people with a higher quality of life. The revenues from the mines feed the masses, built hospitals, built and operated schools, constructed roads and other infrastructure in the country. It has even been suggested that by funding the liberation movements in the region, the revenues from Zambia’s copper mines gained freedom and independence for the entire region. Therefore, the fortunes of the nation were eternally intertwined with the copper industries ownership, production, and prices. When production increased, and the copper prices went up, the government earned more money and provided more services. Conversely, when copper production and prices went down the revenues decreased and the government’s ability to invest in social economic services diminished. Clearly, Zambia is cash-strapped today in part because, in the first 3 decades of the Republic, the nation used up all its earnings, in addition to contracting external debt to fund consumption of the growing population.
The Current State of Investments in Mines
The current investment portfolio in the mines of Zambia is once again mostly private and foreign. With the current poverty levels in excess of 60% of the population. This state of affairs mirrors the pre-independence era. But how did we go back there again? At the turn of the Third Republic, the new government of Zambia led by Dr. Frederick Chiluba, without properly conducting business research put the nation in overdrive mode to achieve higher poverty levels. They introduced a careless and outdated version of textbook economic liberalization and privatization. This meant merchandising all formerly state-owned enterprises and properties at prices way below their commercial values. Urban poverty and unemployment soared during the first 10 years of the ThirdRepublic. The mines were auctioned to foreign firms at very cheap prices and the nation has not fully recovered ever since. Zambia through ZCCM-IH now holds less than 20% public ownership stake in the copper mine industries. The current administration is already looking to sell this stake to other foreign interests. In almost 3 decades, despite increased demand for copper coupled with high production levels, and soaring prices on global markets, the fortunes of the people of Zambia are totally detached from that of the copper mines. It’s this detachment from the essentialcommodity of economic value in the country that mainly accounts for the advent of a majority poor country at 60.5% living below the poverty line.
Whereas the copper mines are a huge contributor to the GDP, they do not contribute that much to Zambian households serve for a few jobs and a little token in taxes to the government. The rest of the earnings go abroad to foreign owners. This is why the nation is broke. Zambia is back to the old creed and Bemba lamentation: umfweni aya amabunu umukuba onse yalima yatwalila abanababo fwe bena Zambia tulechula [oh hear about the deeds of foreign investors, they have dug out all the copper to go and feed their children leaving us the Zambians in abject poverty]. Clearly, the current makeup of the investment portfolio in the copper mines is a significant contributor to household poverty in Zambia. Where once copper mines employed, educated, and empowered the people there is nothing. Where the revenues from the mines, feed people, built hospitals, built and operated schools, constructed roads, and other infrastructure now there is nothing.
The current investment portfolio in the mines is like an alternative country within a country. The reserves in Forex and gold excluding the current account balances in the past 9 years were as follows:
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
| $5.20bn | $4.10bn | $4.86bn | $3.20bn | $4.20bn | $4.20bn | $4.50bn | $2.353bn | $2.426bn |
Sources: World Factbook [CIA]; The Bank of Zambia [BOZ]
The PF government under Mr. Lungu has depleted the reserves at the fastest rate than any other government since the founding of the Republic. For example, in the last two years alone, the net reserves in Forex and gold for the whole country in 2016 and 2017 were $1.419 billion, and $1.508 billion respectively. These are the lowest amounts by far in the last 10 years. Perhaps this should help explain why the current administration wanted to borrow $1.3 billion from the IMF. The PF government in the last two years has been running fiscal deficits averaging $1 billion in the current account balances and is faced with the further dwindling of these reserves by the end of the year.
On the other hand, just one mining conglomerate the First Quantum Minerals’ cash on hand and equivalents in 2016 and 2017 were $1.3 billion and $1.5 billion respectively. We have one company’s net cash inflows at the same level as the entire government of Zambia. This is a company extracting natural resources from beneath our noses. What foolishness is this? It’s not like they brought all this money from their countries. They are making this money in our backyard and yet 60.5 % of our people are living below the poverty line. The fortunes of the nation are eternally connected to the copper industries ownership, production, and prices. I don’t know any person with a degree or any college certificate in my generation who did not have their education funded by the mines directly or indirectly. How can we aspire to educate our children and the current generation of school kids without any contribution from the very commodity that created a platform for the founding of the Republic?
The Best Way to Resolve the First Quantum Tax Bill
Suffice it that our government has woken up to this reality. In recent years, there have been sporadic fights between the mines and the government in the attempt to get more money out of the mines. The moderate increase in mineral royalties from 3 to 6 % is a good example, and the increase in electricity tariffs is another. Some mines have responded in kind by cutting jobs on the pretext of fluctuations in production and copper prices.
However, the greatest showdown is undoubtedly the recent announcement by the Zambia Revenue Authority to the effect that First Quantum Minerals Ltd was owing $7.9 billion for import duties, penalties and interest on consumables and spare parts. The assessment has sent shock waves in the mining investment community worldwide. First Quantum Minerals Ltd has publicly challenged the validity of this assessment. Clearly, a protracted fight in the courts of law can be expected. Some outside observers have received this news with the suspicion that perhaps the tax bill is a scheme by the government to get more revenue from the mines to fix the fiscal deficits and depleted reserves. On the other hand, there is silent but palpable optimism among Zambians at home and abroad. If the assessment is valid it must be recovered and properly used to alleviate widespread poverty in the country. So, the legal battle lines have been drawn.
It’s noteworthy that as at December 31st, 2017, First Quantum Minerals Ltd had total assets of $21.623 billion and total liabilities of $11.495 billion. Therefore, the $7.9 billion tax bill assessment represents 78% of the owners’ capital interest in the company. The implication is that if the Zambia Revenue Authority moves to recover the tax bill amount assessed as valid debt, First Quantum Minerals Ltd is going to have to be placed in liquidation or be taken over by the government. Either course of action would spell doom for the country. First, if the government took over the mines they would collapse if the perpetual loses in all mines under ZCCM-IH is a good indicator of managerial capacity under state ownership. Second, unlike the Post Newspapers that was liquidated to recover taxes greater than the value of the company, First Quantum Minerals has asset values greater than the tax bill. Third, the owners of First Quantum Minerals have tools and avenues at their disposal to defend their financial investment against the government of the Republic of Zambia.
Therefore, assuming the tax bill is valid, the government should work with the nation’s individual largest taxpayer and split the debt into two baskets. The first portion of the debt should be recoverable with a down payment and the balance conciliated into installments over a period. The second portion should be converted into share capital that the government can hold on behalf of the people of Zambia. This share capital should eventually be sold to private citizens. No amounts recoverable should be used to service pre-existing debts or fund “developmental” projects. Rather, targeted investments must be made in grants, and loans to job creators i.e. small-scale producers and manufacturers of consumables that we are importing in the sub-region or from the far east. That will have the effect of reducing imports from abroad, increase the balances in the current account, and create jobs at home. I believe this is the best way to resolve the First Quantum Minerals tax bill.
Thank you for taking your precious time to read this article. Please drop me a comment so I can also learn from your feedback. In the next article, I will compare and rank the economic performance of Zambia against its eight neighboring countries, and present evidence of poor economic management, financial impropriety, and misapplication of resources in statecraft as contributing factors to widespread poverty in Zambian households.
The author is a Zambian, An Author, A Consultant and Accounting Professor in Washington DC and holds Ph.D., CPA, CGMA, MBA, BSc., NATech qualifications.
Maybe you are being premature in proposing a repayment plan . Has the ZRA debt been verified, has FQM accepted the figure. Until there is a validation and acceptance of the ZRA debt notice it should be treated as a mechanism that will bring both parties to the negotiating table.
Ba Kasonso, $4,000 per capita GDP with our current population of 16 million translates to a GDP of $64 billion. Our GDP is around $23bn. How can normal people understand what you write when you can’t even base it on facts??? With all your qualifications, you choose to publish lies and falsehoods??? What a waste of a human being!!!
Zambian Citizen, he has made a mistake but not wilfully and so, correct him, but you do not need to be abusive.
…at that level, with the qualifications he is advertising, you can’t afford such boneheaded mistakes…
@Zambian Citizen I think he’s basing his GDP figures on the PPP basis while yours is Nominal basis.He’s correct on $4000 per capita.
@Zambia Citizen…great contribution! When comparing the GDP per Capita been countries we do not use the Nominal GDP that comparison is meaningless as it does not take into account the impact of exchange rates…Purchasing Power Parity GDP is what we use. Yes, your math is right $64bn is GDP(PPP) but your reasoning needs a little more school check your Economics Texbook again. Enka is right on the money. The $4000 GDP per Capita (PPP) is correct. Zambian Citizen next time check your facts or simply ask questions before you bring half head, half school objections to a serious discussion. If you are so cooked by the author’s qualifications and you are getting an erection to insult him for nothing bro…just man up and get your degrees also. It doesn’t hurt to go to school. But we can’t…
We can’t share ignorance, ubukopo, nobututu. We can only share knowledge, wisdom and education if we have any.
@Desert Fox: That’s the problem with you educated people who do nothing to build this country except display your credentials, theories. That’s why cadres have taken over communities because instead of you people coming up with solutions for our communities and country, like Kasonso you just blurt out theories that can’t even solve problems in a rural community. You don’t need a degree to know that analysts don’t use PPP but nominal GDP to compare countries. While the western intellectuals continue growing their countries, African intellectuals see themselves too superior for their societies and end up running to the west and developing those countries while looking down on your own. Bunch of intelligent 1.d.i.o.ts; Academically sharp but not wise….
Thank you very much for this wonderful enlightening write up. We need more of this kind of information.
For a country that’s been peaceful for 54 years Zambia’s 60% poverty is just criminal.Singapore is same age as Zambia but its per capita income is $98k.
I have read through your 4 articles and I note the following :
Firstly emphasis should be what the future holds You need to comment in a Futuristic Sense because we may not change the past BUT certainly use the past to pick Positivity’s
Secondly When your colleagues have performed sometimes to offer appreciation and critic some is important as you focus on the future say 2030 or even 2055 and how the current efforts will make that difference
IN TERMS OF THE ECONOMY ,Performance can be seen comparable with similar endowed Countries in Africa Since the HIPIC and Financial Crisis periods
The Zambian Economy with similar countries in Financial or economic challenges has…
has fairly performed well. PLEASE REFERE TO THE LATEST REPORT TITLED “AFRICAN PURLSE APRIL 2018 VOLUME 17” In reading this Report you will observe that Zambia has performed very well comparable to its peers over the period and the Future with Investments and adjustments is even brighter
In terms of Infrastructure development and access to services ( e.g. access to all season roads,electricity,impoved water and sanitation, I CTs) certainly you cannot compare Zambia with Congo DR or Zimbabwe Zambia has performed and Zambia is Building a global infrastructure Base for the next years to come on which those who will come will ride and develop further
Access rates have improved…
considerably in electricity, water and sanitation and ICTs Zambia has so far laid the basic Infrastructure needed for Poverty reduction and human quality life
When you do a review of poverty levels across countries in the World and in particular Africa , Countries such as DRC,Ethopia,Nigeria and Uganda are most sported and highlighted
Zambia is not mentioned amongst other countries at 10 to 25 million population levels below a $1 a day
Notable countries like Afghan tan India China itself, Bangladesh with population levels of 25 Million living below $1 a day can easily be seen
These countries have performed worse than what Zambia has done so far If the population…
threshold was to be at 10 million , Zambia still does not feature Countries like Brazil Ghana,Indonesia,Kenya,Madagascar and Nepal come into special focus and mention
Yes we may have some occasional poverty in some Zambian household but measures implemented in agricultural and social security so far have reduced the endemic levels For those still craving that is why the social security system is under development to ensure to ensure 65% of the population does not live on a less than a $1 a day
I am sure also that this you can see in the UNDP ANNUAL HUMAN DEVELOPMENT REPORT that Zambia has indeed made progress in areas of Poverty reduction,Education,Health,Infrastructure and…
@ Jonathan…Zambia has done well ranking in top 3 in poverty among its neighbors?
Country % of Population Living Below Poverty Line
Zimbabwe (2012 est.) 72.30%
DRC (2014 est.) 63%
Zambia (2015 est.) 60.50%
Malawi (2014 est.) 50.70%
Mozambique (2015 est.) 46.10%
Angola (2008 est.) 40.50%
Botswana (2009 est.) 30.30%
Namibia (2010 est.) 28.70%
Tanzania (2015 est.) 22.80%
and Governance
There are good comparative statistics on Zambian, these Comparative statistics in areas of Human development,Healthy,Education,governance and Infrastructure are indicating progress and good progress on which future progress is being laid
You may need to articulate on the future and picture Zambia say in 2030 or 2055 from now and see the advances being made in the areas of economy management ,education,healthy,governance, infrastructure
With the future so bright and Zambia’s assets ,it cannot be cashless or to use your words strapped I agree with you on some points with restructuring economic and Financial management but on the solvency of Zambia No
If you follow…
the mining sector global and Investments , you will observe that reshimes have moved There are only about 2 countries in which Governments has significant participation it is now co-ownership with Gov maintaining a GLOBALLY acceptable participation rate like what we have currently with ZCCM IH That ownership can be by local Zambians or foreign
What is in place is retention of capital and reinvestments systems. Such systems as the royalty taxation system ,determination of taxation and ownership interests including citizens empowerments because of the sheer mega investments required GRZ and Zambian private individuals could not move as usual
What you should be talking about is…
how ZCCM IH should be structured and should be Investing and Holding assets in mining rights and equity ownership on behalf of the Gov and people of Zambia Should it be transformed into a SWF
How the reserve system in the new reshime should work to set up a SOVEREIGN WEALTHY FUND to avoid whatever happened in the past ZCCM eras especially now in private and because commodity prices do change sometimes in a negative way and ownership interests with cash flows do unwind to affect negatively the fortunes of Zambia
This far Zambia has a fairly good and performing mining reshime/laws better than the now developing Congo or Zimbabwe , Thou with all stakeholders and you can…
help constructively shape the landscape to become even better than Canada or Australia or Chile and translate in meaningful lives Take time to read the Ministry of Mines Zambian Mining sector and see what is missing
So focus on the future fortunes and refer cross reference your articles to ensure supported
There are comparative statistics from a renowned sound global research data base that shows Zambia better performed than its similar peers in Africa This will show you how Zambia has well performed peers in areas of democracy Education Economy Healthy Power ICT and Infrastructure
A figment of your imagination…A Zambia doing well does not exist in any notable research databse. Zambia is true broke running deficits of at least $1b per year in the current account balances in the last two years. Where is the money going to come from for projecting a future in 2030? Bankruptcy is the only sound projection.
When writing reference and cross reference is better so that like Zambian Citizen has observed there is consensus in your analysis
I can show u comparative statistics that show the Good performance and Progress recorded in area of DEMOCRACY,EDUCATION,ECONOMY,ACCESS TO SERVICES,HEALTH ,INFRASTRUCTURE AND POVERTY THE LANDSCAPE IS GOOD TO 2030 2050
A simple test will be to ask the author of the article rank the following African countries according the Mrs Logan UNDP MDGs which have moved on to What similar….
The countries are : Algeria
Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo
Congo, DRC
Côte d’Ivoire
Djibouti
Egypt
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Libyan
Madagascar
Malawi
Mali
Mauritania
Mauritius
Morocco
Mozambique
Namibia
Niger
Nigeria
Rwanda
São Tomé and Príncipe
Senegal
Seychelles
Sierra Leone
Somalia
South Africa
Sudan
Sudan South
Eswatini Kingdom
Tanzania
Togo
Tunisia
Uganda
Zambia
Zimbabwe
Criteria :ECONOMY ,POPULATION, LAND AREA, AND HUMAN DEVELOPMENT INDEX
1. Population
2. Land Area
3. Population Density
4. Urban Population
5. Population Growth Rate
6. Total Fertility Rate
7. Population Below 15 Years of Age
8. Population 65 Years and Older
9. Human Development Index
10. Poverty Below $2 per Day
11. Poverty Below $1.25 per Day
12. Poverty Below 5 per Day
13. GDP at Market Exchange Rates
14. GDP per Capita at PPP
15. GDP at PPP
16. Deficits
17. Reserve Ratios
18. Exchange rates
19. Inflation rates
20. Debt to GDP
21. HEALTH
22. Life Expectancy at Birth
23. Infant Mortality Rate
24. Calories per Capita
25. Undernourished Children
26. Adult Obesity Rate
27. Adult Smoking Rate
28…
30. Disability-Adjusted Life Years
29. Total Deaths
30. Deaths from AIDS
31. Deaths from Diarrheal Diseases
32. Deaths from Malaria
33. Deaths from Respiratory Infections
34. Literacy
35. Years of Education, Female Adults
36. Years of Education, Male Adults
37. Primary Enrollment Rate, Net
38. Lower Secondary Enrollment Rate, Gross
39. 32. Upper Secondary Enrollment, Gross
40. 32. Knowledge Society Index
41. Roads per Capita
42. Road Density
43. Population Living within 2 Km of All-Season Road
44. Paved Roads Cars, Buses, and Freight Vehicles
45. Population with Access to Electricity
46. Electricity Generation Capacity
47. Household Use of Modern Forms of Energy
48. Access to Improved Drinking Water
49. Access to Improved…
49. Access to Improved Sanitation
50. Wastewater Collection Coverage
51. Land Area Equipped for Irrigation
52. Telephone Network Density
53. Mobile Phone Usage Mobile Broadband Usage
54. Spending on Core Infrastructure Total
55. Infrastructure Spending
56. Spending on Roads
57. Spending on Electricity
58. Spending on Water and Sanitation
59. Spending on ICT
60. Internal War Occurrence
61. Risk and Corruption Index Corruption Perceptions
62. Government Effectiveness
63. Government Regulatory Quality Polity Autocracy/Democracy Score
64. Freedom House Index (Inverted)
65. Gender Empowerment Measure
66. Economic Freedom Index
You will agree that Zambians have better performed fairly to similar peers What the writer should do is to…
speak to these indicators ans show how Zambia has performed to similar countries about With due respect to others and owners,the writer must relate Statistics on these are there on how Zambia has performed and the Outlook to 2030 and beyond Any student of economics (developmental at Unza) and indeed any Zambian must see through the Policies of Government and relate to the above long-term
Progress and development is being made and has been made but it must continue with adjustments///
The author wrote: “In the next article, I will compare and rank the economic performance of Zambia against its eight neighboring countries, and present evidence of poor economic management, financial impropriety, and misapplication of resources in statecraft as contributing factors to widespread poverty in Zambian households.”
Why are you jumping the gun and muddying the waters? Are you in government afraid of the expose from the Washington based Zambian Professor? ati UNZA development studies? UNZA is NOT a research school. It’s a consumer and not a producer of research. It’s a glorified technical institute offering mostly apprentice degrees, and a few masters for managers. That’s no enough to run a country in today’s global economy. There are no expert degrees offered there in…
There are no expert degrees offered there in this area, therefore no useful research in any notable database. That’s why all you are doing is regurgitating the research done by other people without understanding their purpose or methods.
If Economic Policies of Zambia are being based on apprentice degree level thought process no wonder the nation’s poverty level is at 60.5%. Long-term policies have results from the short-term, and medium-term performance. You can even type properly my dear. You seem energized by this Write your own article countering his arguments, put your real name on there and your credential as well so that we can also evaluate your paper.
There are no expert degrees offered there in this area, therefore no useful research in any notable database. That’s why all you are doing is regurgitating the research done by other people without understanding their purpose or methods.
If Economic Policies of Zambia are being based on apprentice degree level thought process no wonder the nation’s poverty level is at 60.5%. Long-term policies have results from the short-term, and medium-term performance. You can even type properly my dear. You seem energized by this Write your own article countering his arguments, put your real name on there and your credential as well so that we can also evaluate your paper.
What he is writing is an elementary UNZA DEVELOPMENTAL ECONOMICS and most of it is being answered and tackled in the NDP 2030 and Ministry of Finance strategic Planning He has drawn a conclusion already but even if he has not the article is outside the CONSESUS Its dwelling more on the past as opposed to typical PHD papers that extrapolate and give a forward looking OUTLOOK for Zambia Now what you have simply done is to read what i have posted and help him make a decision That is going to be difficult and eight Countries what is the selection criteria to make its that way
UNZA is a STEM (Science technology engineering and mathematics ) school I agree…
UNZA is a STEM (Science technology engineering and mathematics ) school I agree with you that if you have seen is slowly improving towards what you have written but whenever i study from UNZA for whatever reason i symathise with UNZA students They lie School and are committed to it but in some way Its hard to see through We once were similar but having been educated We can only hope others reach the level from UNZA and contribute in shaping the country positively
We would not encourage those of you from UNZA not to write articles like this and those of You who are in better Universities studying or earning a PHD The economic analysis must be seen and be differentiated by even by an elementary economics students
There is also levels for people and those o us that have achieved must encourage the same from UNZA to aspire to these levels and understand
I like lusakatimes because it gives a view of what people understand So what criteria even then Zambia has fairly well performed like i have written to show and draw comparisons above
The Zambian economy is the worst run in the region. There are no two ways about it. How in the world can the nation have 60.5% poverty with no war and no sanctions but borrowing $10.7bn in 7 years and you are here fooling us? You are fooling yourself bro. Even the IMF denied them $1.3bn bail out because the PF numbers don’t add up. The people in charge of the country don’t understand money. And their advisers don’t have enough school to run a country…
Get a legal credit here [email protected]
“Our politics have become arid of truth and devoid of substance. Consequently, our elections in recent years have become wantonly meaningless and costly adventures.” Nothing could be further from truth. It is alarming to denounce a government of the day in this way. A sweeping statement can not help the process of problem identification and analysis in order to find the solution. First, it is the criticism that qualifies as “arid of truth and devoid of substance”. The devil is details. There is need to speak to specific issues as generalizations are sheer waste of time. They add to cacophony rather than problem solving. Second, elections can not possibly “become wantonly meaningless and costly adventures” because leaders need to be elected. If there be no free and fair elections,…
Second, elections can not possibly “become wantonly meaningless and costly adventures” because leaders need to be elected. If there be no free and fair elections, then what remains from the democratic debate? Nothing. Democracy, good governance and rule of law is founded on regular free and fair elections.
When we were Kids In the same class with young brother Teddy we knew Mr Kasonso He is of high reputation and his PHD and Tax advisory in DC beyond question but these series of articles in as much as We would like more on Lusaka Times must have been subjected to PEER REVIEW and Perhaps even LT similarly a BLIND PEER review
Some generation and conclusion on these articles are not collaborative they are at variance with the Generally accepted performance benchmarks in a world class sense as shown and drawn him above The essence of Gov Financing is to improve hoping that the country would be better able to grow superlatively
Zambia has so far…
performed better than similar countries above in the top Ten in Africa and not if Second here in our region according to the above Off Course economic development is a stage and process and indicators must be balanced to ensure safe landing
Aba Yellow ababako ,Power Dynamos, HICHIs Friend YOU.
Not the politician HH, I meant HACHI there.All data and research from local and quasi Gov indicates Zambia to have performed better among st the pears comments and analysis Zambia has performed Even what you can obtain from Central statistics here or Ministry of Finance collaborates
Yes among st all Indicators Economic management though better ranked in the above amongst the peers with similar risks has not performed to potential and much has to be done focusing on the future Institutional capacity ,democracy and Quality of life and services better than its best peers
Madagascar is the most poorest Country in Africa
He can also refer to the CPIA criteria 2017 or CPIA world bank document 2017 The African foresight 2018 shows similar advancement made by Zambia.
When you make the conclusion i will show you the data base and comparatives even for those countries We should do a better GDP price deflator also elders in the articles to reflect prices
@Jonathan have you been to Chainama lately? A visit over there might be beneficial to you. You are encouraged.
Please speak to the article and help the reader conclude do not be person The reader has evidently missed the MARK In-terms of his PERFORMANCE REVIEW OF ZAMBIA AS PER ABOVE INDICATORS His classification criteria is not correct and He is not extrapolating the Future as we know His Sectorial analysis of Zambia economy is not conclusive, thorough and Correct to arrive at the
I have hinted to you the way mining sector have moved on above and why his analysis is not correct
Having analysed Mega mining Investments and Inventors global and Zambia in particular His analysis is also misplaced on this one. His comments on historical is somehow valid but he has failed to…
show this far the future way forward and his analysis is not valid Its a generalization and devoid of Indicators above .For ZRA only processed and validated assessments count as receivables. The global view is on royalties and corporate Tax and CREATION OD SWF The Government has performed according to the above Goals In the area of mining it has made strides to ensure increased returns That Commitment you can see it in the constant review of existing regulations and contracts to ensure structure fit to best Fiscal regime
Lets stick to the article and see how the writer of the article concludes in view of the above Let’s see how he will compare GDP per capital (PPP) of the…
the Democratic Republic of the Congo or other neighboring countries He is to comment and draw a comparative conclusion In case you are mistake I am not from UNZA I am the Special One Like Jose Mourinho
His analysis is not collaborative to other findings on similar Political economy analysis on African countries and particularly on Zambia in particular
We wait to see the conclusion and maybe he will say honestly that Zambia has performed fairly this by far as hinted above comparable to similar peers since HIPC and Financial Crisis especially when you see the movement in Growth in GDP from 1996 to 2015 and Now the Transformation to present and the future
One thing we need to learn is to debate issues with sober minds devoid of insults. Jones has a right to make a point. Those who read his argument must respond with dignity. I liked Jonathan’s approach, regardless of where he comes from. Jones needs to take those cautions into account and come up with a final paper. Has Zambia performed. I think it has and is getting better. But there is still a lot of work to be done. Poverty is due to many other issues, and war of course not related, otherwise those countries below us would not be recording such high levels of poverty despite not having been to war. From there we can then pick it up. Ofcourse President Eddie has to look at poverty issues very seriously. Something is being done, but we can do better.
That is why i have guided him with the above It will be amazing to see that though our neighbor colleagues and well diversified ,resilient in reserves and rich in resources Zambia ranks fairly better in unemployment,Institutional capacity,Poverty and access including Progress on the above In some even personal security is an issue later alone institutional freedom and democracy Zambia is better placed and well focused Like indicated it would be better with when the economic management being done now is much more emphasized and focused, fortunes are consolidated because that is where Its venerable Like we saw on ZNBC the PS for Economic Management acknowledging In performance with…
In performance with peers as on above It has performed fairly well He will need to look at those
small things on top of the list “”Population and Coverage ” Then Consider the Nature and period of unemployment episodes in Zambia Skillings and Development even then ad mobility We Know He
needs to be like BANK OF FRANCE in reporting and tracking Debt Portfolios and our economic fortunes and performance as in daily weekly monthly quarterly and Yearly to remove much speculations etc I end here rest i loose tract of the conclusion//
Zambian Citizen
Your point is 100% spot on
Now do us a favour
Give us the GDP (PPP or Nominal) comparison for any year around 1970
The problem is that our country is growing. But population growth has outstripped. So growth per capita (per citizen) has declined !!
They saying our population by 2030 will be clocking 30 million
Will our economy (roads, jobs, housing) etc be able to also double in the next 12 years ?
Nopes.
The author puts all blame on privatisation and mines
Has he seen how an African can steal ? An African whose population is wallowing in poverty has NO SHAME takes entourages to New York
An African has no shame pushing traffic off the road for his 100 car convoy full of expensive saloons.
An African can squander billions of borrowed dollars. He can globetrot the world in a private jet.
An African can spend $200,000 on landcruisers for 150 constituencies.
An African deserves an African