Kambwili Says Post Newspaper Is Scaring Away Investors

Kambwili Says Post Newspaper Is Scaring Away Investors

Information minister Chishimba Kambwili told parliament last Wednesday that investors are shunning away from Zambia because of negative reports coming from the media, and The Post Newspaper in particular.

Mr. Kambwili said talking about the Kwacha fall and load shedding is irresponsible journalism.

However in today’s editorial comment, The Post Newspaper wrote that they talk about Kwacha Fall and Load shedding because a higher volume of businesses run in Zambia have been affected and declined due to load shedding and the Kwacha fall.

“Why doesn’t Kambwili want people to talk about load-shedding when every day, it is affecting them in their homes and workplaces? The volume of their businesses has declined due to load-shedding. The cost structures of their businesses have adversely changed due to load-shedding, which has increased the cost of production. In some businesses, this has been impossible to totally pass on to the final consumer, who is already over-burdened by other high costs of necessary goods and services. Kambwili doesn’t want people to talk about this. Is this being sensible? Is this being honest? If a newspaper does not publish stories and comments on this issue, in whose interest is it operating?

Kambwili says talking about the kwacha falling every day is being irresponsible. Is this real? What has gone wrong with the gentleman? The depreciation of the kwacha has in a very big way eroded the incomes of our people. It has led to a huge increase in the prices of goods and services. Most of the things our people buy in the supermarkets and the open markets of the compounds, are imported. As such, their prices are affected by the depreciation of the kwacha. Many shopkeepers in the country’s shopping malls are in trouble. They are starting to have serious problems paying rentals due to the depreciation of the kwacha. And their sales have dropped as a result of the kwacha depreciation. Their businesses are on the verge of collapse. These are real problems affecting our people and their livelihoods. But Kambwili says it is irresponsible to talk about them,” wrote The Post.