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Alba Iulia
Saturday, July 11, 2020

US urges young entrepreneurs to improve Zambia’s economy

Economy US urges young entrepreneurs to improve Zambia’s economy

US Ambassador to Zambia Eric Schultz
US Ambassador to Zambia Eric Schultz

UNITED States of America Ambassador to Zambia Eric Shultz has said that Zambia has great economic potential which young entrepreneurs should tap.

Mr Shultz, in a statement made available to the media in Lusaka yesterday, said one of the most important factors creating this potential is Zambia’s dynamic young entrepreneurs.

“Nine of those young Zambians were invited by the United States to the July 25-26 global entrepreneurship summit in Nairobi hosted by President Obama. They returned to Zambia motivated and energised,” he said

Mr Shultz said entrepreneurs will lead Zambia from reliance on aid to prosperity through business and trade.

“Your entrepreneurs will spark future innovations and solutions, creating jobs, and building businesses,” he said.

Mr Shultz said he has been continually impressed and energised by the young Zambian entrepreneurs he meets.

“President Obama is right – these entrepreneurs hold the key to a brighter, more prosperous future for all Zambians,” he said.

Mr Shultz said for Zambia to attract the capital it needs to grow faster, Government should free the private sector and unleash the creativity of entrepreneurs.

“Less intervention, less regulation, will lead to greater investment and faster growth. The Zambian government, the United States government and other stakeholders may have a role to play in connecting Zambian entrepreneurs with resources,” he said.

Mr Shultz also said it is important for Zambians to harness the energy and enthusiasm of the global entrepreneurship summit which was hosted by President Obama.

He said Zambian participants at the summit succeeded and were among the most impressive.

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  1. No comments of politics on this article pliz!!!

    If you cant even define entrepreneurship I see no reason why one should start bringing in any political names here to “inspire Zambia” if such this … such that……….were in office!

    Well said Mr. Schultz!!

    • There is potential for sure for as long as scatter brains making the policies provide a conducive environment and do not just favour foreign infestors.

  2. Don’t know about less regulations. Look at the story of Zambians suing Vedanta in England for pollution because of “less regulations” in Zambia.
    Yes to entrepreneurs but no to exploitative entrepreneurship. And without a proper substitute only ‘regulations’ can protect the public.

  3. Having right policies and frame work to support that entrepreneurial in education and empowerment together with creation of interest and net workings for citizens to participate There is need to have more conversations and forums targeted at particular sectors with synergies

    The first Friday of October is manufacturers day in the United States Doors are open to showcase the 21st century manufacturing industry and its dynamic career opportunities.

    Close to 400,000 people participate in 1,679 and events across the country. This annual event represents a growing mass movement of manufacturers dedicated to energizing the next-generation of workforce and entrepreneurs to form the back born of US industry

    Such excitements…

  4. the enterprenueral mind unlike the blanket trade fairs and show grounds we have annually

    It could be on digital manufacturing ,the revolution that will be virtualized while entrepreneurial are recognizing the opportunities to venture in and create value at one night 2 hrs. event at pamodzi hotel with conversations by well researched industrial experts in the industry on markets investments and value creation

  5. How can the youth think in those lines when they have a broadcasting and information minister who teaches them to beg by himself begging each time he stands next to a white man in front of cameras.

  6. Its not in the minister but what we were being talk in schools about industrialisation creating a mind set of entrepreneurial and initiative thinking like a pastor proselyting his subjects

    That mind-set is gradually enshrined like the current Financial literacy project the same should be for all sectors across those areas of activation towards a real GDP or is it notional annualised growth over the horizon

  7. Maybe he should also tell old crooks and developed countries to loosen their neo-colonial grip on Africa, which itself is based on an exploitative global economy.

  8. Watch live: White House Demo Day

    Here’s an entrepreneurship stat that will probably shock you — but it’s not a typo:

    A 2010 analysis found that just 1 percent of seed and early-stage venture funding nationally went to company founders who were black. (And in New York City, it was even less than that.)

    Anyone with a good idea should be able to access the resources to help make it a reality — and that’s why today, we’re hosting the first-ever White House Demo Day and announcing independent commitments from companies who are stepping up to advance inclusive entrepreneurship.

    You can watch live here starting at 2 p.m. ET — and in the meantime, learn more about the entrepreneurs who are here today and watch a video of U.S. Chief Technology Officer Megan Smith surprising them…

  9. You can watch live here starting at 2 p.m. ET — and in the meantime, learn more about the entrepreneurs who are here today and watch a video of U.S. Chief Technology Officer Megan Smith surprising them with the news that they’d be coming to the White House.
    In the startup world, a “demo day” is when entrepreneurs make pitches to prospective funders. The one we’re hosting today is a little different.

    We’ve invited a diverse set of startups from across the country — including those traditionally underrepresented in entrepreneurship, like women and people of color — to come present their ideas. Some of them will present to the President (fun fact: today’s also his birthday!).

    Watch live here, and learn more.


    The White House Team

  10. An example of entrepreneurship formation early stage before thinking about multi facility economic zones

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