HICHILEMA VOWS TO DRIVE ECONOMIC GROWTH AS SECOND TERM BEGINS

Speaking after being sworn in for a second term, Hichilema said the government would build on the economic reforms undertaken during his first five years and pursue a broader growth strategy aimed at expanding opportunities for businesses and households.

“Having done the heavy lifting in our first term, the next five years is all about growth, expansion, opportunities, and prosperity for all our people.”

Hichilema said the government would continue with economic reforms while focusing on key productive sectors, including mining, agriculture, tourism, and energy.

He also pledged to accelerate infrastructure development and industrial transformation by addressing institutional barriers that have constrained economic activity.

The President said Zambia’s economic strategy would be anchored on the 10-10-531-1 vision, targeting 10 million tonnes of maize, 10,000 megawatts of electricity, five million tourist arrivals and three million tonnes of copper, alongside increased production of soybeans, wheat and sugar and higher-value beef exports.

Hichilema said the targets are intended to substantially expand the size of the Zambian economy over the next five years.

“In essence, we'll be tripling the size of our economy in this five-year term.”

However, he acknowledged that economic stabilisation has not yet translated into sufficient relief for all households, particularly amid continued cost-of-living pressures.

“Economic growth must mean something at the dinner tables to all our people.”

He said growth should translate into employment for graduates, markets for farmers, and increased customers for businesses.

Hichilema further called for greater cooperation between government and the private sector in driving investment and economic expansion.

“Work with the private sector.”

The President said his administration would also deepen economic empowerment programmes for women and young people and strengthen decentralisation by placing more resources and decision-making responsibilities in local communities.

On public-sector efficiency, Hichilema said government institutions must focus on measurable outcomes rather than simply attendance.

“It means specific outcomes.”

He also pledged to continue strengthening digitisation, accountability, and professionalism in the public service and maintain the fight against corruption.

Meanwhile, Kenyan President William Ruto said Zambia’s next economic challenge was to convert stability into broad-based prosperity.

Ruto praised Zambia’s progress in resolving its debt crisis and rebuilding investor confidence, but said the benefits must increasingly be reflected in jobs, incomes, and opportunities.

He also called for greater African industrialisation and value addition, arguing that African countries must move beyond exporting raw materials and importing finished products at higher prices.

“Africa must industrialize. Africa must manufacture. Africa must add value to what it produces.”

Ruto said stronger trade, investment, infrastructure, and market links between African countries would be critical to creating jobs and expanding businesses.

Zimbabwean President Emmerson Mnangagwa also pledged to deepen economic cooperation between Zambia and Zimbabwe while calling for greater regional efforts to develop, modernise, and industrialise African economies.

The African Union, meanwhile, welcomed Zambia’s economic reforms and expressed hope that the next phase would promote inclusive growth, create opportunities for citizens, and advance sustainable development.

JUST TO UNLOCK YOUR MIND:

With President Hichilema now beginning his second five-year term, the focus shifts from economic recovery and stabilisation to whether the government can convert improved macroeconomic conditions into stronger business activity, investment, employment, and higher household incomes.