ConCourt ruling has potential to restore stability – EAZ

The Economics Association of Zambia (EAZ) says Friday’s Constitutional Court ruling has potential to restore some stability in the Zambian economy in the medium term.

EAZ president Lubinda Haabazoka says the Court’s decision to clear President Edgar Lungu to contest the 2021 elections has sent a single to investors that there will be no wrangles in the ruling party.

Mr. Haabazoka says now that President Lungu has been identified as a potential candidate, businesses and investors will view this as an indication there will be stability on the Zambian political scene.

In an interview Mr. Haabazoka tells Q-News that this is why the EAZ is expecting to see continuation of the flow of resources into Zambia following the removal of uncertainty by the Constitutional Court.

Mr. Haabazoka however states that in the build up to the 2021 general elections, investors will nevertheless expect government to pass pro-business decisions.

He says because of these occurrences the EAZ anticipates that things in the Country will to some extent normalize.

Mr. Haabazoka says he personally thinks that Friday’s verdict by the Constitutional Court has come at the right time notwithstanding the fact that investors expected it to come much earlier.

He notes that the question on President Lungu’s eligibility to contest the next elections was more like a continuation from the 2016 general elections.