Africa-Press – Zambia. Technology and Science Minister Felix Mutati says the government is determined to see to it that Zambia never again defaults on its loan obligations. Mr Mutati said it is embarrassing to be labelled as a defaulter even at personal level adding that government is now engaging at the highest level with its creditors to discuss the current debt.
He said as a government, it has resolved that never again is going to be in a league of defaulters as a country. Mr Mutati was speaking over the weekend when he graced the annual Money Summit which brought together some of Africa’s leading financial, corporate and entrepreneurial experts to share their knowledge around finances and financial success.
The goal of this summit was to enlighten participants practical ways on how to manage, grow and protect their money as well as passing it on to future generations as it is a wholesome approach to financial literacy.
Mr Mutati said at the government level, the worst is over as the new dawn administration has made a position to change on how the country behaves regarding money.
“We are saying money must be spent on priorities that change people’s lives unlike being wasteful. It must be invested to transform the people’s lives,” he said.
“On the other end, unless the private sector makes money, government will not make money. It is for this reason we have put a framework that enables the private sector to make money, hence stabilizing the exchange rate and inflation. When the exchange rate and inflation is stable, the private sector can then make profits,” he said.
He added, “We must also remember that if we want to make money, the principle of collaboration and partnership which we call Ubuntu should be paramount.”
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