info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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Green Party President Peter Sinkamba says Zambia should not focus on foreign saviours but growing the economy from own resources.
Mr. Sinkamba has advised government to focus on tangible local economic matrices. Last year, Zambia exported US$8.1 billion worth of goods around the globe. Of this figure, copper contributed US$6.1 billion, accounting to 75.7% of total exports. Other base metals such as cobalt generated US$124.5 million, which is 1.5% of the global worth, while gems and precious metals generated US$101.6 million, which 1.3%. Sulphuric acid from the mines generated US$246 million, which 3% while cement contributed US$157.4 million, which is 1.9%.
"When you aggregate these figures, you will note that the mining sector contributed more than US$6 billion towards. Ask me how much of that money hit the accounts in Zambia and you will be shocked. Less than a billion hit the accounts here at home," he said.
He suggested that as an austerity reform measure, Government could venture into renegotiating minerals sale agreements in order to make all auction of minerals to take place in Zambia as is sometimes done with gemstones. He said by so doing, Government would move closer to seeing the true value of its mineral wealth.
Zambia needs agreements that provide government with an independent sales channel as well as an opportunity to develop an independent price verification system and gain wider understanding of the metal and gem business.
