NEW ECONOMIC EVOLUTION - ZAMBIAN CASE
REIMAGINING PATHWAYS TO WEALTH CREATION AND EMPLOYMENT CHALLENGES IN ZAMBIA
Khama Hachunde
Project Consultant(Zambia)
Contacts:+260961579903,+260975122357
Email:[email protected]
Introductions
Across Zambia, now more than ever, workers are experiencing unprecedented levels of instability, with many people facing unemployment or struggling financially in low paying, temporary, or part time jobs. Many graduates from institutions of higher learning continue to remain on the streets because job opportunities are very limited. Frustrated while skilled, many resort to either criminality or drunkenness because the education system they are exposed to is meant to coach them to seek jobs than think outside the box as entrepreneurs. The nature of work is constantly changing in the new economy and has been complicated by massive disruptions, including Covid-19, and technologies such as artificial intelligence and automation happening in developed countries and local institutions like banks. Many workers will need to learn new skills that are adapted for the jobs of today and tomorrow. Education systems and employers will also need coordination more closely to match demand and address growing inequalities. The good news is that innovation and technology also create new opportunities for the workers and everyone else even the common person if they are alive to reality of the situation. It is prudent that Zambia move along with the rest of the world in innovations to provide a lasting and permanent solution to this crisis by reimagining pathways not only to employment but wealth creation in general that are fairer and more inclusive. Shopping around the global for universal financial and wealth creation models that others are using, one stands out among many known as the “New economic Evolution of the World” through “Multilevel crowd investing”. The model was found to be the best that is a promising solution that can accelerate pathways to current and future employment fortunately not only in Zambia but globally in direct response to the concept of “Glocalisation” and SDG 9(innovation). As documented by the UNGA of 2016 and as shown on the global challenges map figure 1 below, these difficulties which Zambia is also victim are just “Challenges” and not “Problems”. From my professional background, I define a challenges as “a situation or task that tests my abilities or skills to deal with only that I have not found the formula yet while a problem I define it as “a situation or task before me that is too difficult to deal with and understand and I can easily give up because there is likely not to be a solution.
Figure 1-Golbal challenges map
Africa demonstrated knowledge to these SDGs in Lusaka Zambia in 2019 with a special key exchange as shown in the picture below(figure 2) between the president of the republic of Zambia Dr Edgar Lungu and the president of the Republic of Rwanda Paul Kagame at a colourful ceremony during the launch of the SDGs regional centre.
Figure 2
Observing closely these global challenges and global strategies, are all more of a “cause and effect relationship” or commonly known to be interconnected. If one or two of the global challenges or global strategies are correctly managed, all the other fall in place automatically. A good example is global challenge 5 and 14. If we discard the notion/belief that living organisms including humans existed from chance but design then we are a step forward to correctly deal with global challenge 14 because we will be careful of the science and technology we adopt bearing in mind that if we use wrong technology it will turn wrong design and consequently wrong function. This concept document however has interest to provide a solution to these global challenges from global strategy (SDG) 9 using the new wealth creation concept “crowd investing” promoted through a movement called “New Economic Evolution of the World” to provide a lasting solution to unemployment levels/joblessness through co-ownership than common formal jobs.
THE NEW ECONOMIC EVOLUTION OF THE WORLD (N.E.E.W) AS SOLUTION
The NEEW program, or New Economic Evolution of the World, is both an idea and campaign in wealth creation and name of group of companies but shortly to be renamed EVORICH group of companies. The program offers its participants the chance to delve into the intricacies of developing their own investment portfolios by receiving first-hand knowledge from world-class professionals in wealth creation through the concept of crowd investing.
The trainers of the NEEW (EVORICH) group of companies spearheading the NEEW and crowd investing concepts consist of highly skilled professionals who share their years of experience via live courses and training materials built on real-life business cases and wealth creation.
The program highlights the application of financial theory in practice and allows each of the participants to discover their personal potential as entrepreneurs. The courses also involve much in-depth personal analysis of the participants’ psychological profiles to allow them to evaluate their strengths and weaknesses.
The program gives all of its participants the chance to become co-owners of a major and profitable global portfolio and establish financial presence in any or all of the twenty major financial sectors of the global economy.
The main advantages of the NEEW program include the provision of access to a wealth of experience from private investment professionals with convenient and personalized training schedules. In addition, the program offers individual mentoring and coaching, and offer detailed approaches to the creation and valuation of personal investment portfolios through the academy of a private investor.
PROJECT/PROGRAMME MODUS OPARADI
The first entry to this co-ownership model is the school of the private investor (tng-neew.com, https://youtu.be/CuRzTVlBLkU) which is one of the businesses in the NEEW portfolio where individuals are enrolled as students to be given practical financial and investment skills beyond the four corners of a classroom but from experience of wealth creation best practices by people that have made it already in life as a way to increase the financial literacy levels from current 10% to at least 15-20% without which 10% of the global population will continue to own 90% of the global wealth while 90% of the global population will continue fighting for 10% of the global wealth. This is a very serious imbalance and serious cause of high poverty for the 90% of this majority to fight for 10% of the wealth. The school provides lessons at a fee per lesson and this fee qualifies the student to be a co-owner of the NEEW portfolio which includes the school and other 19 businesses immediately they pay for the lesson so that they start getting dividends for life on a certificate of shares and start practicing the knowledge they get from the school through saving and investing. Each student is given free shares by the school providing him/her right for co-ownership and as an appreciation for willingness to increase on their financial knowledge. To this end reduce the financial illiteracy levels hoping that they will use this knowledge to create real wealth for themselves from opportunities that they come across including being co-owners of this big already profitable portfolio run by the NEEW programme/project under EVORICH group of companies. The more lessons they pay for, the more shares they are gifted for acquiring knowledge. Probably, it is the only school existing in the world which pays students for gaining knowledge and what they pay for lessons is just an expression that they are willing to learn or be taught and part of what they pay is paid back to them in kind as gifted shares. Among the portfolios important for Zambians to take note of is the shares in one of the gold mines based in Zambia which when and if many become co-owners by enrolling in this academy, they benefit this indigenous natural resource and be able to bring back home the much needed forex than only outsiders enjoying it as the situation is now. This concept marries well with the concept of GLOCALISATION where people without migrating for greener pastures can still through digital enterprising participate in big global businesses/economies and bring back home all the needed forex to grow their economies. Currently Zambia has 381 registered co-owners in this portfolio as by date of this document guided by Brekha Investments limited based in Solwezi whose director is the first co-owner of this portfolio in Zambia. 190 of the 381 have confirmed their accounts and have already received their shares and are likely to be millionaires in the next 5-10 years after project’s full maturity. The rest have not yet verified their accounts, and others because they don’t have smart phones or laptops to work with to manage their accounts because it is more of internet/digital business than physical. The concept is direct response to SDG 9 INNOVATION which is about “new ideas and new products” on re-thinking wealth creation from formal jobs to co-ownership and entrepreneurship. Below is the list of the 20 different sector the New Economic Evolution of the world is involved in and interesting among them is the charity sector which is beyond CSR because in it the company gives out free shares once in a while as it believes shares will provide sustained income and an inheritance to families than product or cash hand-outs because the beneficiaries become co-owners for life.
NAMES OF COURSES OFFERRED
The table below provides information on the type of courses the school offers to its students not for an exam but for knowledge for practice because there is no exam but reading to acquire skills which can be applied in real life situations especially wealth creation and investing.
PROJECT IMPLEMENTATION SUCCESS POSSIBILITIES IN ZAMBIA
There are so many stakeholders in Zambia that can make this concept a reality ranging from NGOs, individuals that are gifted to give out, political parties and also some government ministries such as ministry of community development, ministry of higher education, ministry of youth and sports and ministry of labour. Others are ministry of finance/bank of Zambia and ministry of Home Affairs.
(a) Ministry of community development
Through its social cash transfer, this can be transformed from investment for consumption to investing for production where these vulnerable each is enrolled into this school for the purpose of acquiring this much required knowledge on financial literacy and these free shares whose interest also is monthly dividends for life which can be managed by family members who are digitally literate or can be digitally taught on smart phones how to manage these accounts so that it is a one off investment in their welfare and the job of the ministry officials is just to monitor the progress of returns in this investment using new resources to develop other communities than spending on the same people.
(b) Ministry of youth and sport
Currently, the ministry is running a project on internship in different government departments where these college graduates are gaining practical skills in their professions and are paid K1, 500 monthly upkeep. If this money was invested in these youths in this project, it will be long lasting investment and in due time will start getting dividends monthly which will be sustainable for life and in a period of 5-8 years all these youths will be millionaires and employers than workers. By the end of the year, government will have contributed K18, 000 in each youth which will have benefitted them over 1000 shares each in the project/programme and kept busy each month studying these practical financial and investing skills and save from their dividends received into other businesses where they become employers with a steady source of income for recapitalization as the shares appreciate often in value. Dividends are to be paid monthly at 8% upon the portfolio making a profit. On the other hand, the project has also designed an online game called “the genius of finance” which can be bought complementary to the lessons as practical application of the knowledge acquired in order to achieve expected results or financial plans in an individual’s life. This helps all business owners in learning to making financial decisions on paper as opposed making costly mistakes which cost a lot of money in real life. As a result, players are satisfied and that is the route to financial freedom they will take.
(c) NGOS
A number of NGOs from their interest against poverty contribute food staffs once in a while to poor communities but these can be turned into investment for sustained source of income to these communities that those that are sponsored this time will not need any more sponsorship but guidance as they will see the support given grow every time the shares they acquire in the project appreciate in value. From NGOS nature, they will always monitor progress and document the results for advise to governments on how this model is benefitting the community until all will have benefitted providing relief to the economy as many will be self-sufficient bringing back home the much needed forex as they participate in this global business opportunity while at home in Zambia.
(d) Ministry of labour and social services
This ministry can coordinate CSR projects by companies that wish to give back to their communities for this targeted and result oriented at individual and family levels. Companies can register as co-owners of this global portfolio to protect themselves from any economic shocks at home so that losses can be covered by this global business returns. This will also help improve yearly profits from businesses where companies have invested for money to work for them and not them work for money except for the companies they run at home. This will help keep companies at home open to provide employment to others because the economic disruptions they may face at home will be covered by the profit they get from this investment abroad. International agencies like the ILO and UNHCR can be engaged to sponsor even the migrants and refugees so that they are economically empowered with this project which they will continue to benefit from even when they go back to their countries of origin because it is digital business whose office is their smart phone or laptop and will continue to have access to their dividends in their own currency when finally they get resettled in their countries of origin.
(e) Ministry of Higher Education
College and University students are currently given loans which they will have to pay back after school when they get jobs which unfortunately are not available. Using this project, part of the loan they are given can be mandatory investment into the NEEW project to help them start raising money from their monthly dividends with possibility of them paying back the loans before they even graduate without having to wait for them to find a job. The possibility to this effect is that dividends will increase as the shares continue to appreciate in value and the portfolio making huge profits. We shall observe reduced disturbances and closures from these institutions of learning. By the time these students graduate, they will not have to look for jobs because they will have a source of income already but start businesses to practice their knowledge gained in school and from the NEEW project. In this design the country will not lose money from those who can’t pay because they can’t find jobs. Investment into this can be tailored that it is able to payback before the student graduates because the ministry will be able to monitor how much each gets and better still manage their accounts during this period at a 50/50 share as a control measure for misbehaviour and so that the ministry can raise more income for the other would be students and after graduation the students can be given authority to these accounts. This will make them stay in school as they wait for power to the other half of the investment than decide to leave because they have all the money they need and pulse a challenge to start pursuing them.
(f) Political Parties
It is not a secret that political parties in Zambia have been seen giving out both in kind and in cash to their supporters which if this was well organized such could be investments into the NEEW education platform for shares so that these supporters will have a piece of bread even tomorrow than hand to mouth gifts and worse off be bought beer. Evidence available is that others that have been empowered with cash resources to run businesses have failed because they don’t have the knowledge required, at least all those that are able to read, their assistance should be in the NEEW programme where they don’t risk not making it in business because these businesses in the NEEW project they invest in are already profitable businesses and they will invest not for them to work for money but money work for them. Political parties will be seen to be strong for checks and balances because supporters will tend to stick to the political parties were they got the support from to support it for others also to benefit.
(g) Individual Donors
Other individuals have enough resources to spare, if the concept is publicised many will strategize their assistance to the vulnerable from the common saying that “if you want someone to continue eating fish, teach them how to fish and not giving them a fish already caught”. These will start with their family members who will also learn the gesture to help others that come before them that are in need. Individuals also in this design of public publicity of the NEEW concept will learn how to invest in the individual family members to secure their future through this international business so that they are safe financially even when the parents are long gone and descendants will not have to start all over again.
(h) Ministry of Finance and Bank of Zambia
Publicise the school to the general populace through workshops physically or virtually on its lessons on financial education to help raise financial literacy levels and especially on practical aspects of financial management, wealth creation and investing. This will help grow and stabilize the economy and reduce borrowing as all those that invest in this concept will bring the much needed forex back home. They invest little but get more back home as forex. The knowledge gained from lessons in the academy of a private investor or playing the genius of finance game will increase financial literacy levels to run other projects differently in response to BOZ’s financial literacy yearly campaign with practical results to show on both financial literacy levels and investing skills so they could grow their wealth for their families.
(i) Ministry of Commerce, trade and Industry
Engage with the traders and educate them on how they can benefit investing in this concept so that they can participate in viable global businesses while at home to raise income from these profitable businesses abroad to expand their businesses back home. From the lessons, these traders and businesses will gain knowledge on practical financial management skills, wealth creation and correct investing lessons on how their hard earn money can also gladly work for them without having to toil themselves any more than they already did.
SOCIAL AND ECONOMIC BENEFITS OF THE CONCEPT AND PROGRAMME-
ZAMBIA
(a) Increase financial literacy levels through these practical financial literacy and investing educational programmes provided by the NEEW programme. Globally its only 10% of individuals that are financially literate and the 90% are not. Levels of poverty in Zambia attest to this fact because we have many of the HAVE NOTS and few of the HAVES.
(b) Change the mind-set of many Zambians especially new graduates from the job seeking mentality to entrepreneurship and co-ownership investing in such special assets as in shares possible even by a common person investing a $10 in this global portfolio (NEEW) with good future returns that are irreversible. It is an opportunity for Zambia to reduce on capital flight but bring back home the much needed forex from this international business.
(c) Reduce poverty levels among communities as many will be assured of sustained income source as long as they participate in the project.
(d) Reduce unemployment levels because many people will have sufficient income in the coming years and will be able to support their family members as well. It is very possible that they can also be empowered with resources to participate in this global opportunity from the family members who will have made it as a positive cause and effect relationship.
(e) Reduce crime which is one of concerns of the expertise of the document author Mr Khama Hachunde who is a police officer that often when people have no income they tend to take to criminal activities for survival. The prisons today in Zambia are full of youths who if they were exposed to such models and opportunities like NEEW, many may not be found on the wrong side of the law.
CONCLUSION
Like one social scientist Albert Einstein once said and I quote “Insanity is doing the same thing over and over again expecting different results”. In response to SDG 9(innovation), the NEEW concept is one of the global concept if well implemented can turn around Zambia’s economic status and reduce on borrowing because there will be no need to. This remains to those privileged with power to make decisions on the economic future of Zambia if they will seize this opportunity to direct the country towards financial freedom and not only independence or sit back and watch the world move forward with this new economic order and remain forever behind. The digital error provide serious advantage that we can move together with the rest of the world unless as a country we are not willing. President Lungu in his address to the nation on the eve of the Zambia’s 56th Independence stated and I paraphrase his speech as “It is now left for the younger generation (youths) who are current beneficiaries of digital education and technologies (phones) to wisely use these opportunities to participate in global economies beyond the gadgets social media interactions to shape their destiny. When each works hard, their dreams are a reality”. Zambians are hard workers but they need to be assisted with education on how their hard earned money during the years when they are strong can gladly work for them even when they are aged without having to struggle for survival. The NEEW project provides each this opportunity. One of the first topics offered in the first lesson entitled “the 8 rules of a private investor” is the difference between financial freedom and financial independence which can be found on this link https://youtu.be/BFcfx1moFDE . Unfortunately after 56 years of political independence, as a country and individuals we are still economically being colonised. If we are willing, we can organize ourselves and adopt financial models that can work for everyone regardless of status. Someone once said and I quote “the true value of knowledge is action”. The praxis of education is “reflection and action”. Constructivism is defined as “experience combined with new knowledge, you make a model of your own knowledge to make sense of something”. Exactly this is what Andrey has done in the NEEW financial model campaign for the world and it is just prudent that we all support him if the world should be a peaceful and better place to live in with less of these current inequalities and challenges in general. He offers what other disciplines call “Aristotelian Bonus or Knowledge”. This is knowledge beyond the four corners of the classroom into what is true and correct. Those of us privileged with the power to make decisions to change the direction of the country’s future, shall we sit back and do nothing? Surely posterity will judge us as we see the rest of the world blossom and thrive in abundance while we continue wallowing in poverty because we did nothing when the opportunity availed itself.
In short summary, the project is designed as a test against loss of income for workers in the event of robots/automation takes over the industry and disruptions such as COVID-19 making a number of companies close but they can survive from investment into the project as individual or as legal entities from profits made from this protiforlio with a possibility of keeping these companies afloat from the profits they get from this investment abroad. Zambia can be a case of study in SADC because of the privilege it has to document this concept as in this document. Well understood and well implemented, the country can reach the middle income country in a period of less than 5 years with significant changes observed.