ZAMBIA Chamber of Commerce, Trade and Industry president Chabuka Kawesha says benefits with regards to economic development do not just happen overnight.
In an interview, Kabwesha was reacting to concerns that people could not feel any benefit after the drop in inflation.
“Benefits with regard to economic development do not just happen overnight. That, we understand as the business community. There are many underlying factors to that effect. And based on those factors, some in terms of growth or development happens faster. For some, it’s medium to long term, so there are multiple effects. Where Zambia was sitting, 12 month from today is not where Zambia is sitting and for a country to work in rebuilding solid bilateral and multilateral links in the business space, it does take time. And mega projects, mega industries that we are trying to attract, it will take time to unfold,” said Kawesha.
“They will begin to show over time for as long as all of us, you know, this is not about government alone, it’s about the market place, it’s about the business community getting fully involved and a lot of aspects within the realm of our economy will begin to improve. And as a business community in terms of industry, you can see the level of our engagement in communication with government at all levels. At district level, local government level, cabinet level and the presidential level are ongoing and those are the right steps and we encourage the policy makers and the private sector to continue on that trajectory.”
According to Zambia Statistics Agency Interim Statistician General Mulenga Musepa the annual inflation rate for March 2022 has reduced to 13.1 percent from the 14.2 percent recorded in February.