The Chamber of Commerce in North western province says it has welcomed the appointment of Dr situmbeko Musokotwane as minister of Finance.
Chamber president Mukumbi Kafuta said Dr Musokotwane is a seasoned economist and brings to the table a wealth of experience in developing markets.
“And without any doubt, President Hichilema’s appointment of Dr Musokotwane, a former Secretary to the Treasury and chief economic advisor to the International Monetary Fund (IMF), as well as a Finance minister during the MMD administration, is a well-thought and progressive one,” said Mr Kafuta.
He disclosed that at the time Dr Musokotwane saved as Finance minister, the country’s economy experienced growth to an excess of about 7.6 percent despite the global economy crunch.
He said the chamber has no doubt that he is going to apply his experience by growing the economy from where it is to greater heights.
“So, our expectations are that we want to see economic growth, the Kwacha should gain its strength against other convertible currencies,” he said.
Mr Kafuta also mentioned that the chamber is hopeful that the new Minister of Finance will be instrumental in promoting Zambia as a preferred investment destination.
He further mentioned that the chamber is expecting the 2022 national budget to be inspirational and that adequate resources should be allocated to sectors of the economy that need immediate investment to trigger economic growth.
“So, we are expecting the 2022 national budget to address the issue of macro-economics so that it stimulates the much needed, both local and foreign investment into the Zambian economy,” he said.
He has appealed to all Zambians to accord President Hichilema reasonable time within which to come up with a team they will be proud of.