Economist, Trevor Hambayi, has urged government to shift its policy focus towards promoting local Zambian businesses as key drivers of the economy, rather than relying heavily on foreign direct investment (FDI).
Mr. Hambayi argued that while FDI brings capital, it often results in the economy being controlled by foreign entities, which offers limited benefits to local entrepreneurs and the broader economy.
Speaking on Christian Voice’s Chatback program today on the topic, “New Banknotes”, Mr. Hambayi stressed that without local ownership of the economy, sustainable economic growth will remain elusive.
“The government should prioritize creating a conducive environment for local businesses to thrive,” said Mr. Hambayi.
He further emphasized that policies favouring local business ownership would help retain wealth within Zambia, create more jobs for citizens, and strengthen the country’s economic resilience.
Mr. Hambayi further urged government to realign its economic policies to support Zambian entrepreneurs, ensuring that they are at the forefront of driving the nation’s economic growth.
Angel Kasabo
