Capetown – Tuesday 6th February 2018
Zambia has reacted sharply to Assertions by Former Nigerian President Olusegun Obasanjo who is also Chairman of brenthurst foundation that the country had inconsistent mining policies.

Zambia’s High Commissioner to South Africa His Excellency Mr Emmanuel Mwamba says Zambia takes great exception to remarks by President Obasanjowho was speaking at the on going Africa Mining indaba in capetown in his capacity as chairperson of brenthurst foundation.

Mr Mwamba stated that Zambia’s Mining policy has been under revision to ensure that it responded to the need and aspirations of its people for the benefit of the country and local communities.He described Obasanjo’s STATEMENT divisive and untrue,edging him to refrain from making such statements more so he was an African leader of eminent standing.

He noted that the foundation which president Obasanjo was representing was known to actively engage a negative agenda against Zambia.Zambia is currently among countries that are participating at the on going Africa Mining Indaba that has attracted 220 mining companies and 350 investors and government leaders from across the world.Mines Minister Christopher Yaluma is leading a delegation of senior government officials and chief executives from the mining sector in Zambia who include Deputy Secretary to Cabinet Christopher Mvunga ZCCM_IHChief executive officer Dr pius Kasolo and Zambians High Commissioner to South Africa His Excellency Mr Emmanuel Mwamba among others
.Meanwhile Mr Mwamba economic performance remains impressive and that the country was implementing through the Ministry of Finance, a medium-term debt strategy to resolve concerns around the country’s public debt.

He said this at the on-going Africa Mining Indaba that the Medium Term Debt Strategy (2017-2019), which was developed by the Ministry of Financewould serve as an important tool in guiding decision making with regard to prudent debt management.He noted that Zambia was keen to attain the target of being a prosperousmiddle-income nation by 2030.
He added tbat it was for this reason that Zambia’s impressive economic performance was recently echoed SADC Peer Review Team Leader ABNA DLAMINIMr Mwamba said it is for this reason that international rating agency Moody’s upgraded Zambia’s rating from negative to stable.

Moody’s stated that this was due to reduced gov Mr Mwamba said the government had put up policies through the Minister of Finance, Hon Felix Mutati, policy choices that included balancing social development expectation and the country’s fiscal sustainability aswell as boosting domestic resource mobilization through modernization andenhancement of tax compliance levels from 60% to 80%, and above;

He said that President Edgar Lungu had guided the public service to ensure that labour intensive options are taken into account in the implementation of the economic diversification drivernment liquidity pressures and a slowdown in debt accumulation.
Mrs Naomi Nyawali

First Secretary press and public relations

Zambia High Commission South Africa

Tell : +27 (0)12326_1847/97