Zambia Justice Minister, Edgar Lungu of the Patriotic Front (PF) party who was declared new president of the Southern African country says he will keep the controversial mining tax running.

Lungu was inaugurated on Sunday as the new Zambian President after winning the presidential by-elections held last week. He won by a margin just above one percent.

He had 48.3 percent of the votes, beating his close rival, Hakainde Hichilema of the United Party for National Development (UPND) who got 46.7 percent. Hichilema denounced the election as a sham saying there was massive fraud.

The Zambian presidential bye-elections were held following death of Michael Sata. 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.

In his inauguration speech Lungu said his government will maintain the controversial new mineral royalty tax despite fears that it could lead to mines closure and chase away investors. “The government’s desire to ensure companies pay the right taxes will continue,” said Lungu.

During his campaign trail, main opposition leader Hichilema, a wealthy businessman, had promised to scrap the mining tax. Lungu will rule Zambia for 18 months before the next general elections in mid-2016.

The International Monetary Fund (IMF) says Zambia has averaged 6 to 7 percent economic growth as the mining sector boomed, but that slowed to 5.5 percent last year.

By George Mpofu

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