By Lubinda Haabazoka

For a country to develop, we need to unite towards a common goal. Our enemy is multinational capital that manipulates our economic growth and steals our mineral resources. We blame one another for a poor economy forgetting the lack of forex is a result of multinational capital’s unwillingness to bring it back to Zambia.

We have been conditioned to fight one another. Country credit ratings are manipulated by people we think mean well for us but that’s not the case. Unknowingly they influence our politics but we are too blind to see that because the battle is between tribes, political parties and other different formations. In fact we even go to them for funding.

One thing South Africans or Batswanas are better than us for is that they understand their national identity.

I have been repeatedly saying that Bloomberg, financial times, African confidential, rating agencies and other influencers of investor behavior can be manipulated to punish or support a country.

Zambia at the moment is at a stage of being punished for its relationship with the dragon. Zambia at the moment is being punished for its strong stance on illicit financial flows in the mining sector. We have for long underestimated the strength of the mining company monopoly capital. This capital has the potential of influencing regime change by scaling down mining activities citing tax or any other factors. The mining sector can also influence rating agencies and major tabloids to be in the negative about a particular country so as to reduce the economic fortunes of that country.

Forget what we have borrowed for infrastructure development. That’s peanuts compared to what we are losing out through illicit financial flows.

We were advised by the IMF and world bank to get a credit rating in order to access money from the international capital markets. We got that and issued three Eurobonds for which these institutions commended us. So why are they blaming us for that debt today? The Eurobonds were advised on us to trap us and make us dance a certain tune. Eurobonds cannot be renegotiated. One company even proposes to buy out government’s 20% stake in a certain company for $750m to repay the Eurobond due in 2022. What a bloody coincidence!

Despite the fact that we meet our Eurobond payments these fake rating agencies continue downgrading us. Companies continue to externalize what they can to squeeze us of foreign exchange and liquidity. That is what we pay for privatizing our strategic sector. We were insane to sell off assets in a sector that provides 80% of forex to Zambia. We were literally surrendering the value of the Zambian kwacha to monopoly capital. Who told us to privatize? The IMF under SAPs. Despite copper prices being high we can’t give a command to increase mine output to enhance forex because we don’t own mines!!!!

We should never make this mistake in the future. We need to create wealth. We need to enhance Zambian participation in the economy. IDC and Zccm IH should scale up their presence in major companies.

We need economic freedom!!!!

Russia was paying money to the three rating agencies. When the west put sanctions and some Russian banks were cut off visa, Russia also cut ties with foreign companies including these rating agencies. But these rating agencies continued rating Russia but now in the negative because Russia was no longer paying money and also to kill off Russia completely. The Bear, however, is still alive because the bear owns its own economy!!!!

So now we are contemplating ongoing on an IMF package. Once that happens, we will have little control over our monetary and fiscal policies. Is that not what they intended in the first place?

Just read this and from now onwards never trust Moody’s ratings.

The credit rating agency Moody’s has agreed to pay nearly $864m to settle with US federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the department of justice said on Friday.

Moody’s reached the deal with the justice department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the department said in a statement.

The Big Short: is the next financial crisis on its way?

“Moody’s failed to adhere to its own credit-rating standards and fell short on its pledge of transparency in the run-up to the ‘great recession’,” principal deputy associate attorney general Bill Baer said in the statement.

The Author is Economic Association of Zambia (EAZ) President

Lunte Member of Parliament Hon Mutotwe Kafwaya has expressed confidence that the ruling Patriotic Front (PF) will return power in 2021 due to the massive development which has been done in all parts of the country.

Hon Kafwaya said the PF has also demonstrated that it is a democratic party apart from other factors that make it a viable party to remain in power.

Speaking Sunday evening when he featured on Pan African Radio’s News Feedback Programme, Hon Kafwaya bemoaned the politics surrounding certain developmental priorities.

“PF has not failed to support Zambians on things that matter to them. That’s why in PF we have structured a leadership which promotes continuity as it is a party to trust,” Hon Kafwaya said.

Hon Kafwaya, who is also Transport and Communications Minister, said the PF’s developmental objectives are not just hearsays but is documented in the party manifesto.

He castigated the UPNF for lacking internal democracy citing their alleged ferrying of carders to attend their recent Copperbelt rally adding that faking rallies does not guarantee election victory.

He said the PF has the mandate to deliver development to all parts of the country regardless of the region hence the need to trust the developmental system which does not discriminate or chooses who to deliver development to.

He maintained that the PF is not panicking about winning the 2021 elections because it has delivered development to the people of Zambian.

The United Party for National Development (UPND) has dismissed reports by the ruling Patriotic Front (PF) that the party’s weekend rally in Kitwe was full of cadres that had been transported from other regions.

In a statement released to the media, UPND said that the Race Course UPND Rally was 99.9% attended by what the party called the gallant supporters, members and ordinary residents of Kitwe, some of whom walked long distances in a heavy downpour to register their resounding rejection of the PF, Mr Edgar Lungu, Madam Inonge Wina and all PF thugs and criminals still remaining in their Party.

Below is the full statement

THERE ARE NO STRANDED UPND SUPPORTERS IN KITWE

After a phenomenal and historical UPND rally in pouring rain, addressed by President Hakainde Hichilema at Race Course in Kitwe last week, we are not at all surprised by the green-eyed and jaundiced envy of our outgoing counterparts the PF Party and their ever-dwindling supporters on their former Copperbelt stronghold.

We would not have found it desirable to comment on their hallucinations, had it not been for the fact that their Vice President Inonge Wina has joined the fray.

The Race Course UPND Rally was 99.9% attended by the gallant supporters, members and ordinary residents of Kitwe some of whom walked long distances in a heavy downpour to register their resounding rejection of the PF, Mr Edgar Lungu, Madam Inonge Wina and all PF thugs and criminals still remaining in their Party.

The only known people from outside Kitwe were the entourage of the incoming President of Zambia, Hakainde Hichilema.

So the allegations by the PF and Madam Inonge Wina that there are still UPND supporters who remained in Kitwe and that they may bring cholera epidemic, are not only redundant and superfluous, but a figment of their wildest imaginations and is also down right disrespectful and disgraceful to Kitwe, and Copperbelt residents.

Let Madam Inonge Wina and her party, deal with the 48 phantom houses that germinated from the ground like mushroom and let them own up that the ghost workers that have cost tax payers US$800m on the civil service payroll who they can’t deliberately identify, are their own political cadres who they are rewarding for perpetrating violence and carrying out murders on political opponents around the country.

We wish to encourage our citizens that Hope and Help (HH) is here and therefore let them not give in to the bullying tactics and the lies of the Paya Farmer (PF). In 2021, it’s Lopola and Punkamo! PF Kuya bebele!

Elisha Matambo
UPND Provincial Chairman
Copperbelt Province

Patriotic Front Media Director Sunday Chanda has said that opposition political parties are scared and panicking over President Edgar Lungu’s candidature for the 2021 general elections because they know that he will win without a doubt.

Mr Chanda said that a campaign by a consortium of opposition party leaders to discredit and stop President Lungu’s candidature, by appealing to the Patriotic Front (PF) Party to find an alternative candidate if it is to win the 2021 polls.

Mr. Chanda wondered why the Opposition political party leaders have become interested and supportive in ensuring PF’s assured electoral victory in 2021.

The PF Media Director further said this in a statement to media that if President Lungu is a weak candidate for 2021 then the opposition should celebrate and not worry.

Mr. Chanda has wondered why the Opposition is spending so much sleepless nights and money to push for regime change within the PF, an act he says shows desperation.

Below is the full statement

OPPOSITION SCARED OF THE ECL CANDIDATURE; THEY ARE PANICKING!

On 16th December 2018, a consortium of leading opposition political parties called an Alliance agreed to work together to stop President Edgar Chagwa Lungu’s 2021 candidature. These included UPND’s Hakainde Hichilema, ADD leader Charles Milupi, then National Restoration Party leader Elias Chipimo, NDC consultant Dr Chishimba Kambwili, PeP’s Sean Tembo, late People’s Party leader Mike Mulongoti, Republican Progressive Party leader James Lukuku, and representatives of New Labour Party and the People’s Alliance for Change.

Almost exactly one year later, the Opposition is still scared and panicking over President Edgar Chagwa Lungu’s name on the ballot box in 2021. The campaign by the Opposition to discredit and eventually stop President Lungu’s candidature, by appealing to the Patriotic Front (PF) Party to find an alternative candidate if it is to win 2021 is now in overdrive.

One does not have to be a genius to understand that the Opposition is not interested in PF winning the 2021 elections! This is an opposition that specializes in antonyms. For example, the Opposition calls PF Government’s infrastructure-led development as underdevelopment, and the roads connecting rural and urban areas as bad because they cannot eat roads. Since the Opposition majors in antonyms, the opposites; what they are actually saying is that if the PF proceeds with President Lungu’s candidature, PF will not lose, but will win the 2021 elections.

The above is so because; when did the Opposition become interested and supportive of ensuring PF’s assured electoral victory in 2021? Why is the Opposition spending so much time and money to plant this story in the media to push this very agenda? If President Lungu is a weak candidate for 2021, why should the Opposition worry and panic, instead of celebrating? If President Lungu is a weak candidate for 2021, why is the Opposition – having forsaken patriotism – busy discrediting Zambia’s image to the world? If President Lungu is a weak candidate for 2021, why is the Opposition celebrating national misfortune such as the negative effects of climate change, which led to:

(a) Poor rains in the 2018/2019 rainy season, resulting in significantly lower electricity generation and distribution (load shedding);
(b) Poor farm yields resulting in high food prices including of mealie meal, and
(c) The above, in additional to other external factors, combined to adversely affect Zambia’s economic performance – as it would to any country.

Perhaps, the real question is; why is the Opposition sacred and panicking about a President Lungu candidacy in 2021?

Here is why: President Lungu does not govern without a goal or as one who beating the air, borrow from the Bible. His goal is the actualization of the 7NDP towards Vision 2030, that is, transforming Zambia into a “prosperous middle-income country by 2030”. As a result, and sadly, Zambia has an Opposition that is bereft of credible policy alternatives besides them trying to paraphrase or repeat the same policies, programmes and projects already espoused in the 7NDP being implemented by the PF Government under President Lungu. Exposed by their lack of sound policy alternatives and their zero capacity for constructive criticism, they have resorted to politics of character assassination as their backbone, instead of discussing substantive issues. This is an Opposition banking on deception, national misery and more adverse climate change effects, just to win an election.

President Lungu’s PF Government is driving the national developmental agenda in line with the 7NDP five (05) strategic areas, namely: “Economic Diversification and Job Creation”; “Poverty and Vulnerability Reduction”; “Reducing Developmental Inequalities”; “Enhancing Human Development” and “Creating A Conducive Governance Environment for A Diversified and Inclusive Economy”. Therefore, besides what the PF Government is already implementing, the Opposition has failed to come up with anything concrete plans outside the abovementioned? If the Opposition has any concrete alternative plans outside what the PF Government is already implementing as highlighted above, what are those plans then?

The above explains why the Opposition in Zambia has resorted to antonyms, character assassination and lies!

It is only yesterday, Friday 22nd November, 2019, that UPND leader Hakainde Hichilema lied to the public that ZCCM-IH and IDC overpriced the purchase of Mushe and Superior Mealing, respectively.

Mr. Hichilema’s tweet read as follows: “ZCCM-IH & IDC bought these two milling companies. The two were valued at $3.1 million but they were purchased at $17 million, effectively $13.9 million above their value. This money belongs to tax payers and would have been used to buy essential drugs for 93,000 citizens.” Source: https://t.co/AaYijpnH2A

Mr. Hichilema wanted to deceive the masses by misrepresenting facts. He is being a liar. As the adage goes, Mr. Hichilema is “entitled to his own opinion, but not to his own facts!”

In the aftermath of Mr. Hichilema’s lies, IDC has clarified that as a matter of fact; “Mushe and Superior Milling (76%) were valued at $13.221m and purchased at $6.908m. Effectively both were bought at over $6m below their valuation. Valuations were done by independent enterprise and asset valuation experts. @IDC @ZCCM-IH we believe in integrity and professionalism.”

Sadly, this is an Opposition presenting itself as an alternative. An Opposition of deception and antonyms. An Opposition of lies which late President Levy Patrick Mwanawasa warned us about concerning Mr. Hichilema in his book, “Levy Patrick Mwanawasa: An incentive for posterity”. This Book was written by Mr. Amos Malupenga and edited by Professor Fackson Banda. The book on pages 211-212 gives some candid insight of late President Mwanawasa on Hichilema’s duplicity saying:

“The problem Mr. Hichilema has is the fact that he wants to cheat, to mislead, to show that he is what he is not. His understanding of politics is that it doesn’t matter; you can cheat, provided you get your goals!”

This is not the first time Mr. Hichilema is telling lies aimed at injuring public confidence in the economy. For example, he lied about ZAFFICO being sold to the Chinese.

We even wonder where Mr. Hichilema is getting this sort of courage to even talk about acquisition of assets considering his controversial past? We wonder why he is declaring himself winner of the 2021 election two years before the election is called, which will be his political retirement?

Our response to Mr. Hichilema is that we are not like him. President Lungu will not sell public assets for his personal gain. President Lungu will not sell public assets in order for him to become majority shareholder as was the case with a number of companies associated to Mr. Hichilema during privatisation. President Lungu will not betray the confidence of the Zambian people.

Once again, we are making a passionate appeal to the Opposition to embrace issue-based politics and not cheap lies and antonyms. We are also asking them to be ready for President Lungu’s name on the ballot paper in 2021. It is a no brainer that President will be the strongest contender in the next election.