Zambian President Hakainde Hichilema has emphasized the need for Zambia’s treasury to become stronger in light of the return of former U.S. President Donald Trump to the White House. Addressing the Energy Financing Group at State House, President Hichilema reflected on how the global geopolitical landscape has shifted with Trump’s reentry, suggesting that African nations, including Zambia, now face a more independent path forward.
“We need the treasury to be stronger. Let’s not deceive ourselves. The global geo-politics have changed with Mr. Trump coming into the White House. We cannot expect ARVs to be bought for us. We have to buy the ARVs. So the treasury must become stronger. We are on our own. I hope we agree that we are on our own,” stated President Hichilema, underscoring the importance of self-reliance in the face of changing global dynamics.
The President further expressed that Zambia, as well as other African nations, must take responsibility for their own development, acknowledging that the country’s financial institutions need to be strengthened in order to sustain economic growth. He expressed gratitude toward Trump, stating, “I want to thank Mr. Trump, I think he has slapped us not on one cheek but on both cheeks. We should have been hammered a long time ago so that we look at the growth of all our financial institutions. If the economy is growing, it should be driven by your growth.”
Additionally, President Hichilema outlined the ambitious goals set by his administration to boost key industries, including mining. He highlighted that the government had targeted the extraction of 300 million tonnes of copper, with hopes of reaching one million tonnes. “I told you that when you put me in office, I will be the chief investment officer and marketing officer, I’m doing my job, now do your own – which is beneficial to your own,” he asserted.
On the issue of energy, the President called for cooperation between the private sector and Zambia’s power utility, ZESCO, to restore the country’s energy sufficiency. He acknowledged the role that past political decisions played in the financial troubles of ZESCO, stating, “Let’s not point fingers at ZESCO. It’s we who damaged the ZESCO balance sheet. It’s a politician who was forcing ZESCO to buy expensive power and sell it cheaper. I will not allow any such decisions to be made. Let’s make ZESCO restore the balance sheet, you as the private sector.”
President Hichilema concluded by urging ZESCO to see private players as partners rather than competitors, emphasizing the importance of collaboration for the sustainable development of Zambia’s energy sector. The President’s remarks serve as a call for self-sufficiency, stronger financial governance, and greater collaboration between the public and private sectors to drive Zambia’s growth in the changing global landscape.