LUSAKA – President Hakainde Hichilema has called on Zambia's business community to ensure that the country's improving economic conditions result in lower prices for goods and services, allowing ordinary citizens to benefit from the ongoing economic recovery.
In a statement, President Hichilema said recent improvements in key economic indicators should be reflected in the cost of goods, services and public transport, reducing the cost of living for Zambians.
The President highlighted several positive economic developments, including lower inflation, a stable Kwacha, a bumper agricultural harvest, improved electricity supply and reduced fuel prices.
He said these gains were achieved through the hard work of the Zambian people and government's disciplined management of the economy.
However, President Hichilema noted that many consumers have yet to fully experience the benefits of the improving economy, stressing that as the cost of doing business declines, businesses should pass on those savings to customers.
He reaffirmed Zambia's commitment to a free market economy, describing it as a key driver of investment and economic recovery, while urging businesses to demonstrate good corporate citizenship by adjusting prices in line with improving economic conditions.
The President said businesses had consistently called for macroeconomic stability and should now ensure that consumers also benefit from the progress that has been made.
Looking ahead, President Hichilema expressed confidence that the implementation of the 24-hour economy would further increase productivity, stimulate economic activity and help reduce the cost of living.
He added that managing the economy is a continuous responsibility of government rather than a political exercise and pledged that the same fiscal discipline would be maintained to sustain economic stability and improve the welfare of Zambians.