Chingola most hit district with economic recession-FS Musonda

 Chingola most hit district with economic recession-FS Musonda

Chingola Business Executive Freddie Musonda says Chingola local businesses have been in a recession for a long time.

Mr Musonda appealed to government to consider Chingola as a special case.

Speaking in an interview with The Independent Observer, he likened Chingola to Ndola after the collapse of manufacturing industry by 2006-2020.

Mr Musonda who is also the president for the Chingola Chamber of Commerce and Industry said that Chingola has been in a recession since Agro-America left in 2004.

He said in Chingola, if it is not gassing then it is the mining firm not paying suppliers and contractors or may be the exchange of hands of the mine owners.

He said the business community in Chingola needs attention from the government to look at the situation critically.

Mr Musonda said the story of Chingola has been a downwards trend and for businesses it has been difficult for the locals to survive.

He said businesses have not generated a lot of money for them to pay debts as they are still owning Zambia Revenue Authority (ZRA) and National Pensions Scheme Authority (NAPSA) which is not their liking.

Mr Musonda said Government must look at the situation and find a way to relief the local busineses for continuity to be there for locals who have been struggling to make ends meet.

He also said the contributing factors for Chingola include foreigners who come in with high competition with their cheap capital while interest rates at local banks is very high.

“It has been a difficulty environment for the growth of the local business houses under many circumstances. There has been the inconsistence from the government policies that have been constantly changing new taxes coming in, new regulation, and new fees which have been a big blow also for the growth of the local business community,” he said.

Mr Musonda said the Chamber has been advocating for the government to find a way of directly engaging the people through business organisations that feel the impact when policies change at times.

He said if government can collaborate with the local businesses, the business will constructively start to improve.

The Independent Observer

John Sakala is a Journalist yearning for independent journalism

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