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Friday, May 29, 2020

Micro, Small and Medium enterprise policy to be revised

Economy Micro, Small and Medium enterprise policy to be revised

Minister of Commerce, Trade and Industry, Hon. Christopher Yaluma
Minister of Commerce, Trade and Industry, Hon. Christopher Yaluma

Government says it is in the process of revising the Micro, Small and Medium Enterprises Policy, in order to develop an economic empowerment policy that will promote entrepreneurship and economic growth in the country.

Minister of Commerce, Trade and Industry Christopher Yaluma says the new economic empowerment policy which will be aligned to global trends, is cardinal in expanding opportunities for economic growth, through enhanced job and wealth creation.

ZANIS reports that Mr Yaluma said the revision of the policy will enable Zambian entrepreneurs to grow their businesses and contribute to the socio-economic development of the country


The minister said this when he officiated at the 2019 Zambia Entrepreneurship Summit in Lusaka yesterday.

Mr Yaluma disclosed that the Citizen Economic Empowerment Commission (CEEC) in partnership with the Technical Education, Vocational and Entrepreneurship Training Authority (TEVETA) is developing an entrepreneurship curriculum that will focus on mentoring, coaching and financing entrepreneurs.

He noted that the Entrepreneurship Summit creates a platform for Zambia’s entrepreneurial and business community to network, showcase their business ideas, and explore financing options, and advance business and market opportunities.

He said government remains committed to creating an enabling environment for entrepreneurship development and that the summit will help connect youths and women led enterprises to established businesses, financers, investors, and policy makers, in order to help grow their businesses.

Mr Yaluma also commended the Citizen Economic Empowerment Commission for re-engineering its focus on entrepreneurship development by focusing on the establishment of business centres with information and technology components.

The minister also praised Wecreate Zambia for lending out to over 9,000 women, and called for strengthening of economic empowerment programmes for women in entrepreneurship.

And speaking at the same event, United States of America Ambassador to Zambia Daniel Foote said that entrepreneurship has a pivotal role to play in Zambia’s socio-economic development.

Ambassador Foote said the US government will continue to support entrepreneurship programmes in Zambia because they offer a lifeline to youths and women in the country.

The US Envoy said Zambia should consider boot camps to promote the development and nurturing of entrepreneurship ideas among young people.

Ambassador Foote said the US government will in partnership with Wecreate Zambia and HIVOS launch an Academy to support women participation in entrepreneurship in the country.

Wecreate Zambia Executive Director Nambula Kachumi urged entrepreneurs in the country to take advantage of the summit, and foster partnerships with financiers and investors, in order to expand their businesses.

She said entrepreneurship is key to Zambia’s next step in economic development.

The summit which was held under the theme Entrepreneurship and Innovation; The future now, Leaving no one behind, was attended by over 140 exhibitors.

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  1. First you do all in your power to destroy SME’s and now you are to “revise” your destructive policies?
    What a bunch of incompetent non-comps we have as “leaders” (LoL)!!!

    • These people you put in government have not even the slightest idea of what they are doing. You condemned MMD but at least business was robust and growing. Like the bète noire friday m’membe’s “weekly” post, every business was able to operate profitably. Personal as well as corporate Income was on the increase. The hard working people know this for a fact.

  2. Small businesses are the true engines of the economy. Helping them is the best way to help Zambia develop.

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