Food Lovers joins others closing operations in Zambia leading to job losses

Food Lovers, a South African Chain Store, has joined many others that are closing businesses in Zambia and leaving hundreds of employees plus local suppliers joining the army of street adults without jobs.

Highly placed sources within the Chain Store have revealed that the business environment in Zambia was unbearable due to weak Kwacha that affected their imports, PF inconsistency policies of ban on certain products, load shedding, and escalating rentals in shops due to bad business environment.

A number of other businesses are also closing their activities in Zambia due to unstable currency, which is the worst performing in the world, and they cannot manage shop rentals while their shops are heavily affected by load shedding.

Mining houses are so far laying off workers in numbers as they are owed huge sums of money in US dollars by the PF government in VAT refunds, plus inconsistency mining regime policy which keeps changing.

Economic rating agencies have so far downgraded the Zambian economic outlook and placed it as not suitable for investment.

But despite all these challenges, President Edgar Lungu as no problems chartering a private jet full of musicians to New York to perform at a private PF fundraising function.

 

A few days from now, Vice-President Inonge Wina will also be leaving for London, UK, with a large delegation.

Share this post