Local News


By JULIET Makwama and Irvin Muyumbwa

ECONOMIC freedom world over depends on understanding available wealth creation opportunities and working towards benefiting from them, Economics Association of Zambia (EAZ) President Lubinda Habaazoka has said.

And an Economist Munyumba Mutwale says Zambia needs to position itself to benefit from mining exports by harmonizing its tax regimes to be in conformity with global trends.

Dr Habaazoka said this in an interview with Millennium Radio News ahead of the Africa Freedom Day which falls on Tuesday next week.

He said people were complaining about hardships worldwide as most people are only looking for jobs.

Dr Habaazoka said creating sustainable wealth which would sustain generations requires that people grasp entrepreneurship opportunities which they can grow.

He said economic freedom cannot happen unless people engage in sustainable wealth creation.

Meanwhile, Mr Mutwale said this follows Chile, the world’s largest producer of copper putting in place a new copper regime by approving a mining royalty bill that could see sales of copper taxed at a rate of more than 32%.

Mr Mutwale said Zambia needs to take a strong approach to get a higher tax regime in a coordinated manner.

He said there was need for Zambia to charge a higher tax regime for mines in order to keep between 50 to 60 per cent of copper profits within the country to benefit more. 

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