23 Aug 2025, Sat

Economist Highlights President Lungu’s Economic Legacy

Economist Kelvin Chisanga has described former President Edgar Lungu’s economic legacy as a period of ambitious development and mixed outcomes, highlighting both progress and enduring challenges.

Mr. Chisanga said President Lungu’s economic legacy is marked by bold ambitions and visible transformation.

He made the remarks during an interview on Money FM’s Treasury Watch program.

“His administration prioritized inclusive growth, aiming to extend development beyond urban centers,” Mr. Chisanga said.

He noted that the hallmark of Lungu’s presidency was an aggressive infrastructure rollout that saw major investments in roads, airports, and energy projects.

“These projects significantly improved connectivity and laid the foundation for future regional integration,” he noted.

Mr. Chisanga also pointed to efforts aimed at diversifying Zambia’s economy beyond copper mining.

“We saw some positive strides in agriculture, including record maize harvests and reforms in the input support system,” he explained.

“However, progress in tourism and manufacturing remained modest, with these sectors still lagging behind in terms of substantial growth.”

He further acknowledged President Lungu’s support for local enterprises through various empowerment programs but noted limitations.

“While the intention to boost local business was clear, challenges in financing and execution limited the broader impact of these initiatives,” he added.

With regards to the mining sector, Mr. Chisanga observed that the late former Head of State’s firm stance on ensuring national benefit often led to policy uncertainty.

“Frequent policy shifts created an unpredictable environment for investors, which affected confidence in the sector,” Mr. Chisanga stated.

On Zambia’s response to the COVID-19 pandemic, Mr. Chisanga remarked that the government’s hands were tied by the country’s growing debt burden.

He said the response to COVID-19 was constrained by mounting debt levels, which eventually resulted in the 2020 default.

He further described President Lungu’s economic era as visionary infrastructure growth paired with fiscal strain — a legacy that future leaders must now build on to achieve sustainable economic transformation.

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