.CHIKWANDA
THE failure to bring more direct foreign investment in the country could be one factor to the poor performance of the Kwacha, but I take strong exceptions to the opposition political sentiments that Finance minister Alexander Chikwanda deserves no praise from anyone for revoking SIs 33 and 55, which hurt the economy so badly.
Are the opposition leaders insinuating that when the finance minister took up his portfolio, capital flight was not his problem – all he had to do was to simply say to the foreign investors: “Here I am, an experienced new person, and I have a different agenda and I am calling you to come and sit down and let’s discuss this issue?” And that he went along with the wrong approach of the use of SI 33 and SI 55?
Albeit, the Kwacha having slowly shown signs of stability as it has slightly gained against major convertible currencies following Government’s decision to revoke Statutory Instruments 33 and 55, but what I know is that foreign investors are hard-nosed negotiators and sitting down to talk with them is not an easy undertaking.
And if the opposition leaders think that because an offer to allow for further consultations has been made by the ruling PF, the next day the foreign investors will get into an aeroplane and come to Lusaka and say: “Here we are, we’ll sit down in your office and talk” – I think they’re in for a long wait.
Mubanga Luchembe
LUSAKA
