By JUDITH NAMUTOWE –

THE business community in Zambia said President Michael Sata’s death will affect the economy in the short-term but that the long-term targets will remain on course.
The Economic Association of Zambia (EAZ) said it anticipated that the death of President Sata would not affect the country in any way in the long-term, while Private Sector Development Association (PSDA) said in the short-term the development would bring about a lot of anxieties within the private sector.
EAZ president Isaac Ngoma said that it was expected that in the medium term, the economic fundamentals would not be affected.
“We do not expect that the death of President Sata will disrupt the country’s economy. We anticipate that even the Kwacha will not be affected in any way,” he said.
He urged the business community and the national leadership to remain focused and manage national affairs with integrity during the transition period.
“We would like to urge all the visitors in the country and investors in particular to remain calm, focused and reflect on the passing of our President and shaping the future of the country,” he said.
President Sata 77, died on Tuesday in London.
Mr Ngoma assured the business community that the business operations in the country would not be disrupted.
He urged foreign investors in the country to move on with their business plans as the economy had remained in safe hands.
PSDA chairperson Yusuf Dodia said in the short the death would bring about anxiety within private sector as they would be concerned about the policy and direction of Zambia’s economy at this time.
He said it was important for Zambians to respond to the passing on of the President in a very strategic and constitutional manner, so that the nation could be run in a stable way.
Mr Dodia said currently, many African countries were going through challenges due to political instability but that Zambia had always remained true to provisions of the Constitution as experienced after the death of late President Levy Mwanawasa.
“Time has come for Zambians to be mature as after reflecting on 50 years of independence, we have the capacity to manage the transition from one President to another without shaking the foundations of our economy.
“We pray that all Zambians including the leadership will act with wisdom and constitutional guidance as we go through this difficult time in our history,” he said.