The Zambia Institute of Valuation Surveyors has […]

The Zambia Institute of Valuation Surveyors has called for stringent policy towards landowners who keep land for speculative purposes in an attempt to sell it at a higher price, stating that this practice is robbing the local authorities of revenue.

 Speaking in an interview with the Zambian Business Times ZBT, ZIVS President Christopher Mulenga condemned the practice, revealing that many land owners have adopted it, with some purchasing big land for future resale.

“There are people that keep land for speculative purposes; if someone has got land and they don’t want to develop it, they are speculating that in the next two years it will appreciate and they can resell it. They are looking at it from that angle, but for us, in terms of revenue for the council, it is uncalled for.”

Generally, reports suggest that the council has not been making a lot from land rates, as the majority of the land is untitled and part of it is unmarked or undocumented. Land is a valuable resource and can be a huge source of revenue for the council if stringent measures are adopted and all loopholes sealed.

“Technology is an enabler in human development, but we must also consider the impact it may have on the livelihoods of citizens and the economy,” he said.

Despite these concerns, Mwila said artificial intelligence is also expected to create new forms of employment and specialised careers that did not exist years ago.

 He noted that some routine jobs may eventually disappear, but new opportunities in innovation, design thinking and digital technologies are likely to emerge as industries continue evolving.

Article by Samuel Mutale