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Alba Iulia
Monday, January 24, 2022

Ministry of Small and Medium Enterprises in stakeholder support

Economy Ministry of Small and Medium Enterprises in stakeholder support

Minister of Small and Medium Enterprise Development Elias Mubanga has welcomed stakeholders with intent to support government in the area of empowerment for Small and Medium Enterprises (SME’s).

Mr Mubanga explained that the country has faced challenges with youth employment, thus organizations willing to partner with government through financial support, are essential.

Mr Mubanga was speaking when Zambia’s Ambassador to France Christine Kaseba and her French counterpart Francois Golgblatt, in the company of a French firm PROPARCO and Agency Francaise Development (AFD) officials paid a courtesy call on the Minister.

The Minister, disclosed that the idea to establish the Ministry of Small and Medium Enterprises Development was aimed at enhancing SME development.

He told the entourage that the country’s economic status has not been performing very well in the past years, hence the partnership with investors will result in economic growth for Zambia.

“This Ministry has been created to lay out a conducive environment for existing SME’s to grow and further incubate the start-ups resulting in economic development,” Mr Mubanga stated.

He said that government has given confidence to many Zambians to venture into business due to the leadership direction.

The Minister therefore commended PROPARCO Group agency and AFD for choosing to invest in Zambia with financial support, among other programmes.

PROPARCO Senior Investment Officer Steven Gardon explained that his organization is involved in guarantees and equity investment for private companies among others.

Mr Gardon explained that PROPARCO provides finance and support in the development of renewable energy and SME’s development.

He listed a number of projects implemented in Zambia including the Itezhi-Tezhi Power Corporation (ITPC) energy project in Itezhi-tezhi and has also been working with financial institutions to address SME financing.

He revealed that his organization relies on financial institutions to support smaller projects or companies such as SME’s for equity investments.

Mr Gardon said the company has strong ambitions for Zambia in the area of business in an effort to kick off the COVID-19 challenges, through support to SME’s.

And Zambia’s Ambassador to France Christine Kaseba is happy that the French companies are eager to invest in the country.

Dr Kaseba noted that the new dawn government is trying to fix the country’s economy as evidenced by the good will that has been demonstrated.

Dr Kaseba expressed confidence in the French President Emmanuel Macron’s will to grow the African continent and mobilize finances for economic growth.

6 COMMENTS

  1. Atase! French investor kuti? There is no investor that comes from France , niba kapyopyo chabe abo same like PF cadres. They thrive on corruption – look at all the French colonies , no peace! Isn’t also the French company one that was illegally hired to negotiate our debt and we still stuck here? Pls minister , dismiss those mwankoles , including that die-hard PF cadre Christine Kassebaum.

  2. Wasnt Lizard from France? Corrupt thieves, war mongers. They took our money to negotiate debt & left, now HH is doing it himself in London. That’s what Lizard was paid to do – to negotiate debt. Never trust this PF cadre & her cronies she is part of the reason we are suffering today.

  3. This is now officially government of blah blah blah blah blah stakeholders this Stakeholders that 24/7….please get to work…they seem to be all relaxed and having unnecessary meetings whilst already wasting tax payers money…..UPND HAS ALREADY FAILED…these pompwes are a true definition of time wasters

  4. @ Saulosi: jst continue being an Illegal Alien there in America. Your comment on Zambian issues is uncalled for. But anyway even u come back to Zambia u ll jst be another monkey but with an accent. Too bad for u bro, from Alien to Chipanzee – hahahhahahahah

  5. Bwana SME Minister, start-up and incubation has been a lip service after the death of SIDO. For Gen Z, SIDO -small industry development organisation back when-UNIP days. Since then it has been misconstrued and the evidence is lack of new products by Zambian at MSME level. For starters even defining or categorising SMEs has conceptually been flawed hence any target support misses the deserving innovators to build the so called buy Zambia build Zambia dream.
    Hon, watch out zambian products by investors who has setup base in zambia without any zambia partnership or beneficiation. What is worse these nationals have created their own outlets which means residents cant even benefits from wholesale trade value chain.

  6. Chipantepante government…you can’t postpone census for a during of two years…These chaps where not ready for former and run government…

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