EFF knocks Hichilema, blames administration for worsening economic crisis, rising hunger

The Economic Freedom Fighters (EFF) has raised concerns over Zambia’s supposed worsening economic situation, blaming the Hakainde Hichilema-led administration for ineffective policies and poor economic management.

EFF president, Kasonde Mwenda, in a statement issued in Lusaka on Thursday, accused the ruling United Party for National Development (UPND) of misleading Zambians while implementing measures that have crippled businesses and exacerbated economic hardship.

Mwenda cited the recent closure of Parmalat Zambia as evidence of a deteriorating business environment, which he attributed to excessive taxation on both citizens and enterprises.

“Small-scale enterprises and the manufacturing sector are being crippled by skyrocketing taxes and uncoordinated economic policies. These measures are fueling inflation and stifling economic growth,” Mwenda said.

He criticized the Bank of Zambia’s monetary interventions, including a record increase in the Monetary Policy Rate (MPR), calling them ineffective and lacking a long-term strategy.

“This cosmetic approach to economic management fails to address the root causes of our crisis and is worsening the already dire situation,” he said.

Mwenda warned of unprecedented levels of hunger, a skyrocketing cost of living, and plummeting economic fundamentals, citing the kwacha’s depreciation from K17 to K28.57 per US dollar within two years as a glaring indicator.

“Inflation is surging to record highs, eroding the purchasing power of ordinary citizens and leaving them unable to afford basic necessities,” he added.

The EFF leader also criticised government’s reliance on the International Monetary Fund (IMF), accusing it of prioritizing foreign interests over Zambia’s economic sovereignty.

“Instead of harnessing Zambia’s vast mineral wealth to revitalize the economy, the government continues to bow to the dictates of the IMF, sidelining the needs of Zambians,” Mwenda said.

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