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Thursday, September 24, 2020

SMEs to participate in Economic growth

Economy SMEs to participate in Economic growth

Minister of Finance Felix Mutati
Minister of Works and Supply Felix Mutati

Government says there is need to lift the financial platform of Small Medium Enterprises(SMEs) to boost their ability to manage businesses in order to take part in economic growth.

Works and Supply Minister Felix Mutati said this in Mongu district yesterday when he paid a courtesy call on Western Province Permanent Secretary (PS) Sibanze Simuchoba ahead of the ACCA Accountants’ clinics to be held in the Provincial capital.

Mr. Mutati said that supporting SMEs in financial and leadership responsibilities is important to bring order to the management of their businesses.

He said SMEs have the capacity to initiate economic growth if they have financial knowledge hence, the need to close the gap between financial knowledge and support for SMEs.

The Minister said the programme embarked on by ACCA is to supplement others being undertaken by Citizen Economic Empowerment Commission (CEEC) and other Government institutions.

He said the financial literacy for SMEs will not only help in economic growth but also create jobs.

According to a statement released to ZANIS by the Ministry of Works and Supply Public Relations Officer Ndubi Mvula , the theme for the programme is”Enhancing Business Leadership and Financing Management, for Improved Profitability”.

And ACCA Chairperson Membership Sean Mukelebai said the Accountants’ clinic hopes to help businesses to progress in their financial management in economic growth.

Meanwhile, Mr.Simuchoba has disclosed that the Province plans to plant 6million cashew nut trees in three (3) years and is hopeful that the Province will greatly contribute to the National treasury once production is in full swing.

He added that distribution of Cashewnuts seedlings is underway following the release US$55 million for the cashew infrastructure development project which is funded by the African Development Bank (ADB).

The SME clinics is taking place at the main market in the Central Business District (CBD) of Mongu.


  1. Good Points ,You will support them better if you create a Dedicated focused and Budgeted small business administration in Ministry of Commerce to specifically curter for SME to ensure Financing
    and monitory to see then grow into mega viable Zambian Business Entrepreneurs or companies ,that
    could be valuable for Listing on luse,thus moving then way from traditional shorterm Ownership and Financing (Costly SME Capital Financing methods we have seen) Those Occasional clinics are welcome but dedicated administration is important to grow a breed of Zambian entrepreneurs We have attached much to CEE and PACRA and have performed fairly well but follow up and administration/supervisory has been lacking…

    • Finance this, finance that. The foreigners come in with money and incentives. We have limited capital and no incentives! Why don’t you give us incentives like tax holidays for a period of starting a business??

  2. That is Why promising ones always fail to see a 5th yr on the way What we are best at is repossessions and foreclosures as opposed to denaturing what we funded Administration You register (PACRA), Help to Finance(CEE and Others) and then You administer Progress of SMEs(Here its Zero score ) perhaps what you are doing with ACCA must be institutional

  3. There is no strategic business Plan fitting into the NDPs 2030 featuring SMEs proper and most of the reaction has been reactive as opposed to being proactive There has has been some success though and maybe natural ones but we need to proactively emphasize SME in there growing there revenue to support capital formation and employment There are weak linkages to create that world class ecosystem for long-term entrepreneurial support with little risk and recovery measures Once tried and failed thats it Its becomes a story with lost learning curves We will need a refocus and renewed emphasis with clear strategic long-term term plans if what the minister is saying about the SME…

  4. will result in employment creation in Zambia You may have Cooperatives ZCF it saves a different similar Markets may be that is why there was SIDO/SME those Kaunda days The concept was correct and is still very applicable even these days

    The ministry of commerce strategic plan is very good only that Strategic plan on SME appears weak with weak ecoystem the focus has been on regulation and loans

    D nick Mongul auditors //

    • What surprises me is that I’m not seeing ZICA in this. Is it not ZICA who are supposed to champion anything to do with the accountancy profession? Can ACCA do anything concerning accountancy practice without ZICA? Is Mutati within the law?

  5. Rhetoric all the times, mwali ba minister of finance, gave yourselves deals; ba then minister of commerce never attended to local SMEs; may God punish you for letting your own people down.

  6. Double crossing corrupt thief has forgotten that he was and still is instrumental in destroying SME’s with his inbreed corrupt practices.
    As the Minister of Commerce, Trade and Industry he and his fellow thief RB have used Zambia Development Agency to give illegal incentives, as Minister of Finance, Mutati was instrumental in raising interest rates to 40%.
    Now, this corrupt crook is advocating “…lifting the financial platform of Small Medium Enterprises(SMEs) to boost their ability to manage businesses in order to take part in economic growth…” after his policies destroyed thousands SME’s.
    Get lost you crooked turncoat

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