Zambia Currency Is Now The Best In Africa After Voted In A Good Leader : Lesson To Nigeria

A Zambian Lady Feminist Witch @DonCorleANN has taken to twitter to express her gratitude after Zambian Youths decided to vote out a repressive Government which has ushered in tremendous Changes in Zambia.

She stated that A year ago Zambians voted out a repressive regime and some Africans flooded our comments telling us we would regret it and that a new government would do nothing. Today the Zambian Kwacha is the best performing currency in Africa & 2nd best in the world, from the worst in 2021.

While appreciating the current goverment, she give kodus to the Zambian Youth who contributed in making this happen by casting their vote to the right presidential candidate in 2021. She also stated that they knew that if they didn’t act and vote in a better leader, many of them would be forced to leave our country because it would have been a hell country to the citizens. According to her statemnt she mentioned by saying  ‘this doesn’t mean we won’t hesitate to vote out the new government should they Bleep us over’

She concluded by saying “We are not allegiant to any political party or president. Quality life and respect for human rights is all we seek.

Bloomberg report indicates that Zambia’s currency is on track for a world-beating year as investors bet on the new government’s chances of securing a bailout deal with the International Monetary Fund and negotiating a debt restructuring. 

The kwacha has advanced 27% against the dollar this year, largely on the back of optimism over the August election victory of Hakainde Hichilema. That’s the currency’s best annual performance since 2005, and only the Seychelles rupee has fared better this year. Both were among the three worst performers in 2020.

Zambian President Hichilema’s government is trying to rework as much as $17 billion in external public debt. He needs the IMF’s endorsement to advance talks with creditors ranging from holders of $3 billion in Eurobonds to $5.8 billion owed to China. Finance Minister Situmbeko Musokotwane plans to conclude negotiations by the middle of 2022. The country became Africa’s first pandemic-era sovereign defaulter last year, and hasn’t serviced most dollar debt since.

The currency of Africa’s second-biggest copper producer has also been buoyed by near-record prices for the metal, which makes up more than 70% of export earnings and helped boost the 2021 trade surplus to 73.4 billion kwacha ($4.4 billion) through November, compared with 41.8 billion kwacha a year earlier. 

Lesson To Nigeria as the gaint of Africa

What this has taught Nigeria is how much power we have and what we can do when we come together. Voter apathy only serves corrupt leaders”

Nigeria currenly facing currency depreciation as regards the issues rocking the corrupt system in Nigeria

The factors affecting the change for the good governace in Nigeria: 

A comment from a social media user stated “ the factors that might hinder the possibilities of Nigeria Electing the right candidate in the presidential seat to effect the positive change envolve around population rate as to compare that of Zambian. Zambia has a population of about 18 million with voting population of about 9 million.

On the other hand, Nigeria has a population of over 200 million with a voting strength of nearly 100 million people”

He further mention the large number factor, a huge fraction is uneducated and poor. This means that politicians can easily influence their decisions with gifts and money. Nigeria, without mincing words, is in a deep mess and achieving the feat that Zambia has achieved is difficult (if not impossible).

In same comparisim between the nigeria and zambia as to population factors that might make the change in good governace is possible in nigeria, a social media user comments that It is hard if not impossible for any country with such huge population and diversity in ethnicity and religion, practicing unitary system of federalism to ever make it in life. It is impossible. So, if Nigeria continues with this system, forget it, in 50 years to come, it would d become worse than Somalia.