Melo Media | Wednesday, 6th December 2023
The Opposition Leadership Movement has issued a cautionary statement, highlighting that the Zambian kwacha is expected to persistently depreciate and lose value against prominent convertible currencies. This decline is attributed to the diminishing productivity in crucial sectors like agriculture and mining within Zambia.
Party Leader Dr. Richard Silumbe emphasized the importance of Zambia restructuring its mining industry to prioritize local involvement and generate the necessary revenue for the revival of the country’s currency.
Dr. Silumbe further argues that the recent scandal surrounding the gold gate, which appeared to encompass millions of dollars for a minor shipment, serves as evidence that Zambia has the potential to generate sufficient revenue to repay its debts and transition towards productivity within a year, provided there is a genuine determination to achieve this goal.
He further mentions the regrettable incident in Chingola, where a group of young miners got trapped for several days due to a cave-in at their workplace. This incident serves as evidence that the people of Zambia are prepared to take charge of mineral production instead of solely relying on foreign investors, as has been the case in the past.
