Thousands of Zambians went into voting this morning in a presidential by-elections to replace late Michael Sata. But far from the jubilations that usually accompany election victories, what will govern the mind of the winner of today’s elections will be the pressing economic challenges currently gripping the Southern African nation.

Sata died October last year after ruling Africa’s second-largest copper producer for three years. He was suffering from an unknown ailment and died while receiving medical care at London’s King Edward VII hospital.

After Sata’s death in October Vice-President Guy Scott took over on acting capacity. Scott became Africa’s first white head of state since FW de Klerk in apartheid South Africa. Under Zambia laws, Scott is not eligible to contest the country’s top position since his parents were foreigners, necessitating the conduct of a by-election, which has already begun. Eleven presidential election candidates are contesting in today’s presidential by-elections and two leading contenders are Defence Minister Edgar Lungu of the ruling Patriotic Front (PF) and Hakainde Hichilema of the country’s largest opposition party, United Party for National Development (UPND). While most aspiring leaders focus on the process of getting into power – campaigns, debates and manifesto preparations – a dire economic state will require the urgent attention of the incoming president.

Guy Scott, Zambia's Acting President and Africa's First White Head of State
Guy Scott, Zambia’s Acting President and Africa’s First White Head of State

Fragile economy

During Sata’s rule, Zambia failed to attract the much needed foreign investment. This probably was a result of its poor reputation for protecting investors. The southern African country was ranked 127th safest investment destination in the world in March 2011 Euromoney Country Risk rankings. “This country need a new leader with a better vision, someone who can bring economic stability and attract foreign investment,” said Severino Banda a banker based in the capital Lusaka.

The Zambian currency, Kwacha, was ranked the worst performing currency in Africa during Sata era and many believe this is because of the late President’s unfriendly economic policies. High rates of HIV/AIDS, unemployment, and market-distorting agricultural policies are also contributing to high poverty rates in Zambia.

Its streamlined economy, largely dependent on copper mining, also makes a case for concern. Copper accounts for 85 percent of all the country’s exports. This has continued to raise worries that Zambia could crumble in the face of lower copper price, and that is only if its poverty statistics don’t already tell such a tale. According to the World Bank 70 percent of Zambia’s 14-million-strong population still lives on less than $1.25 a day.

An economy solely dependent on proceeds from copper sale is hardly an encouraging statistics
An economy solely dependent on proceeds from copper sale is hardly an encouraging statistics

However economic and political analysts believe the winner of today’s Zambia presidential elections, who is expected to govern for not more than two years, won’t have much time to mend the economy. “There is nothing much the new president will do in terms of radical policy changes among others because he has only 18 months before the country goes for harmonized elections,” said Blessing Vava southern Africa economic and political analyst.

Frontrunners’ Profiles and promises

Hakainde Hichilema (Age 53) – He is the UPND presidential candidate after taking over as leader of the party following the death of Anderson Mazoka in May 2006. Hichilema was once president of the opposition party, United Democratic Alliance (UDA), an alliance of three opposition political parties. He also sat on several companies’ board. though he gave up those roles when he assumed party presidency in 2006. He has a MBA Finance and Business Strategy from University of Birmingham, United Kingdom.

Hichilema promised to review the controversial new mining tax that had chased investors far away from Zambia. The current government increased mining royalties to 20 percent from six percent from 1st of January. He has also promised free education for all.

Edgar Lungu (58) – He is the presidential candidate for the ruling PF and current Defence and Justice Minister of Zambia. Lungu is a qualified lawyer after graduating with a LLB from University of Zambia. Initially, when his party PF won the 2011 election, Lungu became Junior Minister in the Vice President’s office. He was subsequently promoted to Minister of Home Affairs and later obtained the influential Ministry of Justice. He became Minister of Defence in 2013 after the sacking of Geoffrey Bwalya Mwamba and functioned as Acting President during President Sata’s long term illness in 2013-14.

Lungu said his first task will be to reduce the pump price of fuel to affordable levels and improve service delivery for all Zambians. He also assured that during his tenure, he will ensure the price of mealie-meal, which is Zambia staple food, is reduced.

By George Mpofu

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