Business hopes for continuity after 'mixed bag' Zambian election
Hakainde Hichilema eased to victory in an election overshadowed by opposition arrests. Businesses now hope for policy continuity.
Zambian President Hakainde Hichilema secured a second term following a mixed election outcome, with 60% of the vote. Opposition leader Brian Mundubile, who came second with 38%, plans to challenge the results. The election, marked by the arrest of 11 opposition figures on 13 August, has raised questions about transparency. Despite the election being well-run, the subsequent vote tallying has been criticized.
Business leaders welcome Hichilema's victory, noting his successful debt restructuring and improved macroeconomic conditions, which have attracted foreign investment. However, inflation remains high, and while FDI has increased, it hasn't significantly boosted employment. Hichilema's re-election provides an opportunity to pursue further IMF initiatives, but the focus must be on leveraging mining revenues to create more diversified and inclusive economic growth.
Written by urgent.news from Africa Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
