President Hichilema Reaffirms Commitment to Economic Growth and Job Creation Through Private Sector Collaboration

President Hakainde Hichilema has reiterated his administration’s commitment to implementing reforms aimed at driving economic growth and creating jobs, emphasizing the critical role of the private sector in achieving these goals.

Speaking during the third Private Sector Day Re-Run Meeting held in Lusaka today, President Hichilema, whose speech was delivered by Vice President Mutale Nalumango, highlighted the importance of listening to the concerns of the private sector to design effective policies.

“Our administration is dedicated to reducing business costs and improving the ease of doing business in Zambia. This can only be achieved through the full participation of the private sector, women, and the youth in our national development agenda,” the President stated.

The event, organized under the theme “Embracing Sustainability: Unlocking Economic Opportunities in the Face of Climate Change and Drought,” brought together key stakeholders to discuss strategies for fostering a stronger partnership between the public and private sectors.

Key Highlights from the Forum:

Strengthening Public-Private Partnerships:
The Public-Private Dialogue Forum (PPDF), launched on April 27, 2022, serves as a structured platform for inclusive engagement on policy matters. The forum aims to drive innovation, job creation, investment, and economic growth through impactful reforms.

Climate Resilience and Green Growth:
In response to the severe drought experienced during the last rainy season, which adversely affected the energy, water, and agriculture sectors, the government is prioritizing climate resilience. This includes policy reforms and strategic investments in green growth initiatives.

Debt Restructuring Success:
Government efforts to restructure debt have created a fiscal space of $4.7 billion between 2022 and 2024. Without this restructuring, debt servicing would have consumed nearly the entire K217.1 billion budget for 2025.

Rural Electrification and Energy Sustainability:
The government is implementing 62 rural electrification projects, including 19 solar mini-grids, with 3,421 new connections expected by the end of the year. Additionally, a net-metering initiative has been launched to allow homes and businesses to sell excess solar power back to the grid, promoting sustainable energy generation.

Public Sector Recruitments:
Significant progress has been made in recruiting more teachers and health workers, aimed at improving the delivery of education and health services across the country.

Agricultural Development:
The agriculture sector remains a priority, with a focus on increasing the production of maize, wheat, soybeans, and other crops. Special attention is being given to irrigation and improving transport and logistics infrastructure to support regional and international trade.

Call for Private Sector Involvement:
President Hichilema urged stronger private sector participation in energy, agriculture, and infrastructure development. Such partnerships are expected to promote climate resilience, job creation, and inclusive economic growth.

Private Sector Support Crucial for Reforms
Andrew Chipwende, Director General of the Public Private Dialogue Forum, emphasized the importance of supporting the private sector with resources and research capabilities. “It is vital that the private sector presents well-researched proposals to the government that can be easily understood and adopted,” he said.

The forum underscored the government’s commitment to creating an enabling environment for businesses to thrive while addressing pressing challenges such as climate change and economic sustainability.

As Zambia continues on its path to economic recovery, the collaboration between the public and private sectors is expected to play a pivotal role in unlocking the country’s full potential.