Name the African President –
Was over 70 years old when elected President. Voted in on a wave of populism and on his 4th attempt.
Ran against and ousted an incumbent. His opponent in the election was an erstwhile Vice President who became President after the former President took ill and died in office.
There was general disillusionment with the incumbent’s performance and allegations of corruption (especially in the oil and gas sector and pertaining to crude oil sales) was rife.
His supporters argued that though he lacks a formal education that he has the required prior experience from holding political office at various levels.
Known as a disciplinarian, and action man, for ‘speaking his mind’ and his ‘anti-corruption’ stance.
He vowed to lead by example, root out corruption, and also to cater to the poor, putting money in people’s pockets.
His co travelers and alleged major campaign sponsors had corruption overhangs, a number had ongoing corruption cases at the nations courts.
He pledged to strengthen the local currency against the US$ and probe the sale / privatization of some state companies.
A couple of months into his tenor his axe came down on a number of multinationals that included a major Telecom provider (owned by a leading African country), the biggest bank in the country etc. He also deported a number of CEOs of major multinationals. Some people where worried while most cheered him on.
His early days in office where characterized by unguarded and often outlandish statements and claims. His speeches more often than not went off script which led to his official spokespeople scampering to rationalize his statements.
Almost a year into his tenor in office there was no clear economic policy direction (people were asked to be patient and regaled with tales of how corrupt the previous administration was) rather, the investing public where at the receiving end of a barrage of wild statements.
This was followed by deterioration in press freedom, a clampdown on perceived opponents.
Then came a flurry of FX Demand Management Monetary Policies, increased taxes, threats of sanctions, against multinationals, media persecution and prosecution of perceived political enemies under the guise of an anti-corruption war with near to zero conviction rate.
He introduced the Treasury Single Account (TSA), a unified structure of bank accounts which gives a consolidated position of Government’s cash resources. The TSA System’s aim was to improve the Government’s ability to efficiently and effectively manage public financial resources by refining current payments processes, and eliminating redundant procedures between itself and its clients.
There was increased public debt, borrowing to fund recurrent expenditure.
Despite the allegations of corruption leveled at the erstwhile President and former ruling party during the campaigns, and despite series of probes, investigations and court appearances, not a single major conviction was secured
Observers cautioned that an uncertain environment raises anxiety among investors…that uncertainty is not good for any business. But the party cadres smelt blood in the water…based on emotive patriotic zeal people insisted that foreign companies must ‘learn to do business in our country or leave’. A lot of people actually applauded…a constant an reinvigorating Amen Corner.
Today analysts say that the country’s problems have “been exacerbated by a lack of fiscal restraint and policy volatility that has undermined investor confidence”.
Who is this President?
And the correct answer is
*more drum rolls*
*and more drum rolls*
*and plenty, plenty more drum rolls*
The late President Michael Chilufya Sata, the fifth (Republican) President of Zambia. He was President on the platform of the Patriotic Front party from the 23rd of September 2011 until his death on the 28th of October 2014.
I suspect that most of you got it wrong.
You got it wrong. True or false?