HAKAINDE HICHILEMA SWORN-IN AS PRESIDENT OF ZAMBIA TODAY; PROMISES TO REDUCE PUBLIC DEBT
By Yomi Oyelami, Trek Africa Newspaper
HAKAINDE HICHILEMA SWORN-IN TODAY. Picture; Courtesy of www.bbc.com
Zambia now has a new President. Mr. Hakainde Hichilema was sworn-in today to the admiration of a rapturous audience in the inauguration ceremony which held at the National Heroes Stadium in the Southern Africa country’s capital, Lusaka. The event which was well-attended by world leaders, the diplomatic community, as well as citizens of the 18-million-strong country saw the 59-year-old become the 7th elected President of the country which got independence in 1964.
Speaking at the inauguration ceremony, President Hakainde Hichilema disclosed on his economic plans: ‘Our focus over the next five years will be restoring macroeconomic stability. Our national budget has been overwhelmed by debt servicing. We must restore this situation.’
‘We will pay special attention to lowering the fiscal deficit, reducing public debt and restoring market confidence in our country. Over the last decade, the debt situation has become unsustainable, reducing the country’s capacity to invest’
The emergence of the opposition leader who contested on five previous attempts in a peaceful election shows that Africa is changing in a slow and steady fashion.
The fact that the-now-ex-President Edgar Lungu conceded to the defeat leading to a smooth transition also testifies to strengthening of democratic norms in Africa.
Zambians are upbeat that the tenure of the businessman who ran for presidency as standard bearer of United Party for National Development (UPND) will yield positive fruits for the young and old in the Land of the Chipolopolo.
