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Alba Iulia
Wednesday, November 17, 2021

Absa Bank Zambia PLC supports SME Trade Mission to the Democratic Republic of Congo

General News Absa Bank Zambia PLC supports SME Trade Mission to the Democratic Republic...

Absa Bank Zambia PLC in partnership with the Zambia Development Agency (ZDA), Finnish government-funded Accelerated Growth for Micro, Small and Medium Sized Enterprises in Zambia (AGS) Programme and Embassy of Finland in Zambia will support 52 local businesses on a trade mission to the Democratic Republic of Congo (DRC) this October. The trade mission is intended to promote the growth of Micro, Small and Medium-Sized Enterprises (MSMEs) in Zambia by match-making local businesses with buyers in DRC to secure market access for Zambian products.

The Banks’ support of the trade mission follows a memorandum of understanding (MoU) signed in July 2021 between Absa Bank Zambia PLC and the ZDA to help local MSMEs with affordable financial services and business development support. Absa Bank Zambia PLC will be providing financial support worth K100,000 alongside other support services to the trade mission.

Speaking at a press briefing to announce the trade mission, Absa Bank Zambia PLC Managing Director, Mizinga Melu said, “As Absa Bank Zambia PLC, we are proud to support these linkages. We believe that the partnership between Absa and ZDA will continue to grow. This trip is very valuable because it finally allows local businesses to get on the ground and create the kind of business-to-business linkages that can take these businesses to the next level.”

“In a larger sense, this trade mission also represents a new phase of a longstanding trade relationship between Zambia and the Democratic Republic of Congo. Our two nations have traded with each other for decades, both in a formal and informal sense, and it makes me proud that Absa is able to support a new generation of entrepreneurs in continuing in this proud tradition,” Mrs. Melu added.

Speaking at the same event, ZDA Acting Director-General, Albert Halwampa expressed his gratitude to the collaborating partners as well as excitement about the Government’s renewed focus on promoting regional trade. “The Zambia Development Agency is excited about the enthusiasm shown by His Excellency the Republican President Mr. Hakainde Hichilema in prioritizing promotion of trade and investment in regional and international markets. For us as ZDA, we are walking the talk to make sure that we promote trade and investment within the regional markets, and particularly the Democratic Republic of Congo.”

Finnish Ambassador to Zambia, H.E Pirjo Suomela-Chowdhury voiced her enthusiasm at the partnership saying, “In the context of this trade mission, we are really working with something that is at the heart of the new Zambian Government’s priorities. I am so excited to have Absa here because it seems since I started working in Zambia, I have always heard in the private sector context that access to finance is the issue. So it is important to have financial institutions as very important pieces in this puzzle.”Team Leader for Accelerated Growth for Micro, Small and Medium-Sized Enterprises in Zambia (AGS)
Programme in Zambia, Gareth Evans said at the event, “This is the right time to go back to Congo. The hunger from SMEs in Zambia is there and so we are very excited to be able to take our businesses to DR Congo.”

Sectors that will be targeted for the trade mission include agriculture, agribusiness and agro-processing, textiles and garments, building materials, mining supply services as well as engineering services and products among others.

12 COMMENTS

  1. With such programs Zambia is gonna be the new Rwanda soon, where it ll start shining on the African map as ; fastest growing economy, well run country, high entrepreneurship, industrious & above all, our usual cherry on top”most democratic”.

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  2. I’m sure Kagame is jealous by now, cos is been making all noise for the past 10years, met many investors at airports heading for Rwanda. Well, no more Dictactor Kagame, cos Bally is here now. Watch out the space!

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  3. Bloggers be wary any comments under my alias requesting info regarding tribe, craving interaction or in relation to tribe, partisan politics, sexists comments please dont engage.
    I post constructive comments in relation to the article not divide or insult. Ignore the UK based impostor it has been on LT for donkey years and it has lamentably failed to find its own identity. It will even hack in just to post nonsensical comments or slander other bloggers. How sad is that all these years in diaspora!!

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  4. The main problem in DRC is a security one…its a lawless country over there just recently our fishermen were captured in Luapula for illegally fishing in DRC borders and the DRC Police were demanding huge payments to release them.

  5. The imposter is now claiming that I am an imposter. I always said that I would never change my picture or name after my Jay Jay account was cloned. The imposter has now uploaded a new picture to hoodwink you all. Lusakatimes can you block that imposter above with the orange bottle in his pictures.

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  6. Wow the whole country is acting,, Acting DG at ZDA, Acting Secretary to Cabinet , Acting Deputy Secretary to Cabinet, Acting Permanent Secretary Health, Acting PS Trade, Acting PS Home affair….Acting Permanent Rep at the UN…Acting…..we are learning..everyday,,, Acting District Commissioners…

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  7. Stay on the big picture , not small issues like appointments. Government is a going concern. Who said we are here on earth permanently? We are all acting if you really think about it , so focus on building trade, let those who are acting prove themselves , they will be made permanent.

  8. More so if the SMEs can be availed Asset Finance loans to create capacity in various sectors to help create capacity and infrastructure for them to actualize their initiatives One area of the sector that is quick is those in town centers working as mechanics in the motor industry and PCs ABSA together with Gov can quickly help to create employment for those simply by requiring Gov to assemble toyota and other vehicles here banning importations of certain class of utility vehicles from far and require that Vehicles be manufactured or assembled here and Zambians purchase through absa asset finance methods as opposed to TT to Most those Engineers and the Banking sectors will grow…

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