blog




  • Essay / Economic Development in Zambia - 1618

    The History of ZambiaZambia at IndependenceZambia's independence in 1964 from the British left Zambia with a glut of copper reserves. These copper reserves along with the income derived from them stimulated great wealth in the country. Zambia has become the economic powerhouse of the African region and as a result, many workers from neighboring African countries have started moving to Zambia to take advantage of the employment opportunities presented by Zambia. Despite this, Zambia inherited many social, political and economic problems from the colonial government. The new government therefore faced major challenges in trying to resolve these problems inherited from the colonial government. These socio-economic challenges that Zambia has been facing hamper the workforce. from Zambia. As a result, Zambia lacked people with the skills and expertise needed for the country's overall development. This also had a negative impact on the country's governance and economy, as the expertise needed to drive the country's economic growth and development was lacking. The lack of qualified human resources is therefore a fundamental problem behind many of the mistakes made in Zambia's national administration and reforms, which have ultimately spilled over into all other regions and sectors of the country. . The majority of Zambia's population was largely rural because previously (under the colonial government) many people were not allowed to come into town without a permit. When people were finally able to settle in urban areas, they flocked to the city for greater access to opportunities. This has given rise to claims beyond the control of the already struggling government. Rapid debt relief under the Heavily Indebted Poor Countries Initiative, reducing the government's payment burden by $6 billion. The government has worked diligently to establish the Vision 2030 plan and the Fifth National Development Plan which will guide economic development in the years to come.10 The Ministry of Community Development and Social Services is implementing social protection strategies in Zambia and, although their funding is less This represents more than 1 percent of the national budget, which is higher than the regional average of 0.25 percent of GDP for social assistance. Developed countries spend on average 2.5 percent of their GDP on social assistance. According to the Fifth National Development Plan, the allocation for social protection will increase from 63 billion Kwacha (13,461,538.46 USD) in 2006 to 75 billion Kwacha (16,025,641.03 USD) in 2006. 2010.11