By Chisomo Phiri
Lusaka - President of Zambia Hakainde Hichilema has criticised the Russia-Ukraine conflict for it is what has pushed oil prices to go high in the world.
Hichilema stresses that the situation will certainly affect the world economic growth and hit hard the economies of the developing countries in Africa, such as Zambia and others.
He says, as a leader who preaches about peace and instability, he is hopeful that the conflict will be resolved in a short period of time and make all things back normal.
“We, however, remain hopeful that the conflict in that region will be addressed within the shortest period of time as we believe anywhere is instability everywhere,” says Hichilema.
The Zambia leader says, as a long-term investment strategy to fight these rising costs of oil prices, his government will continue pushing plans for alternative energy solutions, including electric vehicles that will depend on batteries made from local minerals in the country, such as copper.
Hichilema adds that in the mean time, the World should expect more rising costs of commodities as a result of the conflict.
As of now, Petrol prices have hit another record high as oil and gas costs soar amid fears of a global economic shock from Russia’s invasion of Ukraine.
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