Country’s economic woes partly caused by witch-hunt of businesses —Habaazoka


Former Economic Association of Zambia (EAZ) president, Lubinda Habaazoka, has alleged that the country’s economy is in deep crisis and going through serious turbulences because government had focused more on harassing local businesses.

Habaazoka alleged that this was being done under the guise of fighting corruption.

He recalled that the fight against corruption had always been based on one script of every successive government going after their successors by accusing them of plunder.

According to Habaazoka, this has led to the governing of the country by political vengeance, vindictiveness and persecution.

Read more: World Bank releases additional $100m to support Zambia’s economy

He said Zambia’s economy was in a state of crisis because of government’s negligence, as it was only focusing on debt restructuring and what he termed the purported fight against corruption.

He was speaking when he featured on Millennium TV’s programme dubbed” Millennium Tonight” on Saturday.
“The economy is going through turbulences purely because we have so much concentrated on witch-hunting and persecution of leaders of the previous government and debt restructuring.

“Our local businesses are being harassed…look at Mikalile trading who even after supplying everything is being harassed. We have had Savenda and Neria Investment which have been targeted and harassed.

There were people…human being working in those companies. It was not cattle or goats but our own citizens,” Habaazoka said.

He explained that the debt restructuring process as well as fight against corruption made the government neglect improving the economy because the fight against corruption was allegedly driven by vengeance, persecution and vindictiveness.

He said the Zambian economy was vast and, therefore, could only be tackled when the government exerts more efforts.

“The government should have channelled efforts in addressing challenges in the agriculture, mining and energy sectors as they are critical in any economy.

“The mining industry contributes 80 percent to the country’s economy which should have been given priority after taking over office,” Habaazoka said.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

Group knocks govt for failure to subsidize petroleum products, electricity

Previous article

Access announces completion of merger with Atlas Mara

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Economy