Power and Politics

Golden Party’s Silavwe offers Hichilema economic tips on how to arrest falling Kwacha


Golden Party of Zambia (GPZ) leader, Jackson Silavwe, has said the government should declare  gold and sugilite ‘giftings’ as strategic and state assets to arrest the free falling Kwacha.

President Hakainde Hichilema needs ‘New Money/Dollars in our economy,’  Silavwe said according to his official social media handle accessed by Zambia Monitor on Thursday.

He said the government  cannot get the new money from the current mining tax regime or from traditional tax revenues.

Read more: Opposition queries UPND over alleged attempts to cover up fraud in sale of Sacko Copper, Manganese Mine shares.

Silavwe said declaring gold and sugilite state assets to be mined by the Zambia National Service  (ZNS) and deposited into Bank of Zambia  (BoZ) could provide  the government in excess of US$1 billion per year.

“With that new money/dollars from gold and sugilite, the Kwacha can appreciate beyond K16 and the President will have more money to spend on his development agenda,” he said.

He continued that once  President  Hichilema  declares gold and sugilite as national assets to be mined by ZNS, “we can help him in national interest to get that $1 billion per year if he needs our input further”.

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