Zambia should capitalise on its cannabis and hemp cultivation laws and its abundant copper reserves to generate foreign exchange in order to resolve its debt (now at more than US$13 billion (R251 billion)) and improve the country's economy, according to interest groups.
They argue that the country should actualise and use the Cannabis and Hemp Acts of 2021 approved by Parliament before the 12 August 2021 elections to emerge from the economic malaise.
Zambia's finance minister, Dr Situmbeko Musokotwane, has sought economic recovery through inducing restructuring to review all obligations to China, bond holders and other creditors by the middle of the year.
But Peter Sinkamba, a debt campaigner, environmentalist, economist and opposition leader, has contended that Zambia's failure to recover from the nagging debt strained credulity after Parliament had approved and enacted the Hemp and Cannabis Acts two years ago, which would allow it to raise an average of US$36 billion (R696 billion) annually.
Sinkamba said that since Parliament's enactment of the laws, the responsible ministries had not shown any serious commitment to the matter, despite financial projections that show this move would deliver huge business opportunities and foreign currency for Zambia.
MAXIMISING PRODUCTION
"The government
