Zambia’s economy did well in 2022, according to NOEL NKHOMA, the chairman of the Development Bank of Zambia Board.
According to Mr. NKHOMA, this is demonstrated by the country’s economic stabilization, which is especially noteworthy given the country’s recent history of high inflation and volatile currency rates.
According to him, the government is moving in the right direction and has largely achieved fiscal stability.
Mr. NKHOMA continues by saying that in order to produce sustainable jobs, the economy must grow by 3 to 4 percent.
He asserts that in order to achieve the objectives of the Vision 2030 and the Sustainable Development Goals, steps must be taken that promote economic growth and sound governance.
And Mr. NKHOMA claims that since its inception, the Farmer Input Support Programme (FISP) has been exploited and used as a conduit for fraud.
Last night, Mr. NKHOMA remarked during an appearance on ZNBC’s Sunday Interview Program that the FISP needs to be reevaluated and that people should be allowed to treat agriculture like a business.
According to him, the FISP will continue to use up state resources while only benefiting a small number of people at the expense of the vast majority of people if agriculture is not operated like a company.
Additionally, Mr. NKHOMA disclosed that although the DBZ judged the loans to be non-performing, they were not actually written off in the strictest sense and were instead subjected to suspense interest.
He claimed that in the previous year, the Bank had received close to 400 million Kwacha.