Zambia can raise $15 billion without borrowing a dime – PF aspiring candidate Mudolo
PATRIOTIC Front (PF) presidential aspiring candidate Joseph Mudolo says Zambia does not need to kneel before the International Monetary Fund (IMF) or other lenders to fix its struggling economy because the country is literally sitting on a goldmine.
Speaking during an online interview last n
ight, Mudolo, a Zambian business man based in South Africa said Zambia’s mineral wealth, if properly structured and leveraged, could raise between US$12 billion and US$15 billion without borrowing a single cent from foreign institutions.
“The issue which we are facing today, if I am given an opportunity to come in as a president under my government, one thing I would do is to establish a sovereign fund,” Mudolo said.
“We have assets. What they (Government) needed to do was to look on the asset side, because you need to look at external balance.”
Mudolo, declared his bid for the PF presidency ahead of the 2026 general elections, said Zambia’s economic challenges stem from overdependence on copper exports and a lack of creativity in financing.
He explained that the government could have used the country’s mineral resources, including assets in Mopani, KCM and other mining interests, to create a national fund that would bring in money for development without borrowing from outside..
The PF 2026 presidential hopeful argued that instead of celebrating debt restructuring and IMF packages, Zambia should be focusing on wealth creation through strategic partnerships and value addition.
He said the country could easily fund key sectors like agriculture, manufacturing, tourism and energy using proceeds from structured mineral offtake agreements.
The South Africa-based entrepreneur said under his leadership, Zambia would embark on homegrown economic engineering, turning its natural assets into instruments of progress instead of collateral for loans…https://kalemba.news/politics/zambia-can-raise-15-billion-without-borrowing-a-dime-pf-aspiring-candidate-mudolo/
By George Musonda
Kalemba October 13, 2024
After talking about how much money you can raise, my interest is what is your programme in education, health, agriculture. It is ok to raise a lot of money, me my vote will go on a convincing programme of action.
Positionong yourself to come and steal?We know you and Bushiri.Those pyramid schemes did not work in addition to that your case is still in court.You can lie to few thieves and gullible Zambians we know you are far away from being better than what we have.You are just a big step backwards
Ka Kawalala ka chabe achabe aka. Why do thieves in Africa prefer politics kansi?
If it is that easy to raise US$15billion without borrowing, why haven’t successive Zambian governments done it, they were stupid?
‘strategic partnerships and value addition.’
BUZZ WORDS everyone likes.
Show me one country that does not borrow. Even the oil rich emirates and Saudi, borrow. How did Mudolo make his money if he did not borrow first? Or, perhaps it was miraculously manufactured.
Your own PF accrued unsustainable debt, defaulted and had no clue on how to pay back the money that they stole and the same group is still looking for an opportunity to get back and start stealing again that HH has now put the economy back to where it was many many years ago and that’s why they can looking for another crook like you? When PF fell in limbo on what to do with debt why didn’t you offer them your so called services?? The answer is simple, because you are just a crook like the PF members and they wouldn’t allow you nor trust another known crook.
The presentation is full high sounding terms that essentially mean nothing. You are trying to communicate your ideas to the general public and all you do is string a whole chain of sound bites. It will make you appear sophisticated but, Mr. Mudolo, you would do well to breakdown these technical terms into simple language that ordinary people like me can understand.
“Wealth creation through strategic partnerships and value addition”. What exactly do you mean? Learn to communicate effectively. I have read through this post and come out with nothing, zero. In other words, I don’t know what Mr. Mudolo intends to do if elected state president.
Basically he had said nothing new. Why is he in courts in rsa anyway? His friend in a morgue there, grabbed those assets he is talking about and failed to do anything with them. His other colleague appointed liquidator, paid himself Usd 44m but suppliers were not paid. Yes, given a chance to run the country, he can grab all everything judging from where we are coming from.
All capital projects, funds are borrowed. This is to free cash flows. Before you earn, bills such as civil service salaries, fuel procurement and medicines still must be bought. The needs of the country as at now require extra resources by 35%. So before you make, to fill the gap you borrow. That is economics.
You can’t win Zambians by cheating.
This guy thinks when he just lands in State house, the gold will also be in state house the following day and the buyers will already be on the Q. It’s stupid to fool people like this. It is also possible these are the people who have been stealing and selling country resources like gold, in secret. Now they think under legal way they can sale volumes of of Assets like that, eishi.
Easy to talk from outside when you are not even in the country.
This excerpt highlights the potential menace posed by Mudolo, emphasizing his capacity for destructive actions or influence. It questions whether there is an underlying plan to covertly sell or cede control of Zambia without public awareness, implying concerns about secret negotiations or transactions that could jeopardize national sovereignty.