The Zambia National Farmers Union (ZNFU) says it is still determined to work with the government to guarantee that the agriculture industry grows.
According to ZNFU President Jervis Zimba, the Union has no doubt that with President-elect Hakainde Hichilema’s strong agricultural background, the country’s agricultural industry should brace itself for a drop in input costs and real growth in production and productivity.
Mr Zimba cited agriculture, forestry, fisheries and livestock which is at over 28% as the country’s highest employing sector of the economy.
He said further growth of the agriculture sector would translate into more jobs being created which in turn will enable more people earn a living wage.
Mr Zimba made the remarks through a week 33 farmer brief availed in Lusaka yesterday.
“A flourishing agriculture sector talks to economic growth, and this underlines what the ZNFU believes in. Congratulations for your resounding victory in the August 12th polls,” Mr. Zimba said.
On the appreciation of the Kwacha against other major covetable currencies, Mr Zimba cited the country’s current account/balance of payments, political stability, performance and speculation as among the factors that have led to the kwacha to gain.
He emphasized that political stability, performance and speculation have been positive so far.
“The period after the elections saw the incumbent President concede and the President -elect giving an acceptance speech which reassured the markets and hence the positive speculation recorded by investors and bond holders,” he stressed.
As at 20th August 2021 15.30hours, the Bank of Zambia captured the Kwacha trading against the United States Dollar at ZMK 17.26 per $ 1 compared to pre – election high of ZMK 22.03 per $ 1 recorded on 20th July 2021 at 15.30hours.