HAKAINDE HICHILEMA WRITES
‘Someone is doubting that we can’t afford to pay bursaries to ALL students, the number I gave yesterday was 147,000. Let us do the numbers together.
The lenders to Zambia have indicated that they are willing to reschedule such that of up to 20% of current debt repayments will be released for national expenditure. This means that immediately this happens, our annual debt repayments will reduce to about US$1.76 billion, saving us as much as US$$440 million.
So since we want bursaries at K1,980 per month per student, and an academic year is 9 months, this means that for 147,000 students we will need 147,000×1,980×9 which is K2,619,540,000 (K2.62bn). This K2.62bn is US$116 million at the current exchange rate of about K22.50. With our savings of US$440 million we can afford this.’
Are you still doubting?
HH aka Bally