01/07/2025
UPND Hails Economic Growth, Job Creation Amidst Call for Bank Rate Cuts;
By Hellen Bwalya.
The ruling United Party for National Development (UPND) government today touted significant economic advancements, including a projected 6% growth rate by Bloomberg and the creation of 1,200 jobs, with more employment anticipated in the energy sector.
Simultaneously, the party urged commercial banks to lower high interest rates to align with the improving economic outlook and criticized the delayed repatriation of former President Edgar Chagwa Lungu’s body, calling it an "injury to national sovereignty."
Mark Simuuwe, UPND Media Director, during a media briefing in Lusaka, highlighted these achievements, suggesting that increased tax revenues from growth could fund initiatives like free education. He reiterated President Hakainde Hichilema’s call for financial institutions to adjust their rates to reflect the stabilizing Kwacha and decreasing commodity prices, emphasizing, "There is need to help the financial sector breathe when the Kwacha is stabilizing." Zambia's currency has been rated by Bloomberg as the best-performing globally.
The UPND also expressed strong disapproval over the delayed return of former President Lungu's body, who died on June 5, 2025, in Pretoria, South Africa. Disputes over his burial location remain unresolved, causing what the party termed a blow to national sovereignty.
Beyond job creation, the UPND cited stable inflation and a significant increase in maize production by farmers, which has led to reduced mealie meal prices. This agricultural boost is supported by government initiatives such as credit facilities and tax-free irrigation equipment.
In the energy sector, Zambia has become the fifth African country to commission a 100-megawatt solar plant, described by Simuuwe as "second only to Kariba North Bank." Locally manufactured batteries are now exported to eight countries, and the government has secured over $200 million in foreign mining investments without offering tax holidays.
Reduced fuel prices are also expected to ease economic pressure, with the Bus Drivers Association of Zambia reportedly discussing fare reductions.
Government policies further include expanding Central Province’s agricultural output. The Citizens Economic Empowerment Commission (CEEC) is contributing through the provision of school desks, bursaries, and student meal allowances. Plans are also in motion to recruit over 2,000 teachers and support staff.
Addressing ongoing challenges, Simuuwe acknowledged issues such as load shedding and water resource management.
Internationally, Zambia is strengthening partnerships with Angola and Zimbabwe, facilitating the export of batteries and cables.
The UPND also celebrated a recent victory in the Lumezi by-election, framing it as a positive indicator for the 2026 general elections.
Simuuwe boasted of record public sector employment, including health workers, asserting the UPND’s unmatched commitment to national development and economic transformation.
