Hichilema Urges Zambians to Leverage Kwacha Stability for Investment and Production

LUSAKA, Tuesday – President Hakainde Hichilema has urged Zambians to seize the opportunity presented by a stabilizing currency to import productive equipment and shift the nation’s economic culture from consumption to investment.

Addressing journalists during a press conference at State House, President Hichilema said Zambia’s improving economic fundamentals are creating a favourable environment for business growth, job creation and long-term national development.

The President noted that independent analysts have consistently identified Zambia as a viable investment destination, adding that the country has become a meeting point for international partners seeking economic cooperation.

Debt Restructuring and Economic Recovery

Mr. Hichilema highlighted the progress made in restructuring the country’s debt over the past four years, saying the effort has helped restore confidence among global investors and development partners. He reaffirmed his government’s commitment to sustaining economic reforms that encourage stability, transparency and accountability.

Mining Sector Resurgence

The President emphasized the central role of the mining sector in driving national growth, noting that several previously dormant mines have been revived, while new mining projects are currently under development.

He said significant investments have flowed into the sector, enabling increased production and opportunities for local participation. Mr. Hichilema thanked citizens for their patience and trust as government implemented policies aimed at revitalizing the industry.

To deepen local benefits from mining, the President said government has passed legislation to increase Zambian ownership in mining companies and enforce local content provisions. He added that entrepreneurship and supplier development programmes are being promoted to expand job opportunities within the mining value chain.

The Head of State also stressed the need to formalize mining activities to curb environmental damage and illegal operations.

Education and Job Creation

President Hichilema reiterated the government’s continued focus on human capital development, citing the introduction of free education, which has enabled more than 2.3 million learners to return to school.

He said additional bursaries, meal allowances and skills training initiatives have been rolled out to strengthen the education system and equip young people with employable skills.

The President further noted that over 100,000 public sector jobs have been created in the last four years, adding that government has ensured an inclusive recruitment process free from political discrimination.

CDF Accessibility and Governance

Mr. Hichilema also highlighted reforms to the Constituency Development Fund (CDF), stating that it is now accessible to all constituencies without bias unlike in the past when certain regions were sidelined. He said this shift aims to promote fairness, development equity and wider participation in local economic activities.

President Hichilema concluded by reaffirming his administration’s commitment to driving economic transformation through investment-led growth, improved governance, and broad-based national development.