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Alba Iulia
Tuesday, June 28, 2022

Zambia recorded deteriorating economic prospects Last 10 years

Headlines Zambia recorded deteriorating economic prospects Last 10 years

Minister of Small and Medium Enterprise Development Elias Mubanga has noted that Zambia has huge potential for high economic growth due to its rich natural resource endowment and a youthful population.

Mr. Mubanga says Zambia’s potential has been hindered by declining economic prospects leading to high unemployment levels the country has experienced especially in the last ten years.

He said to unlock potential for growth, the government is committed to creating an enabling environment for enhancing entrepreneurship and innovation that will spur growth of viable Micro, Small and Medium Enterprises.

Mr Mubanga was speaking during the launch of the mentorship training programme for SMEs held in partnership with Germany and the Finish governments and other stakeholders in Lusaka this weekend.

Mr Mubanga stated that the mentorship training is an important programme and that more similar mentorship programs have been organized for SMEs, an indication that a lot of activities to promote SMEs development are gaining momentum.

He stressed that the desire of the government is to see a private sector driven economy with SMEs taking a larger portion.

“To unlock this potential for growth, the government is committed to creating an enabling environment for enhancing entrepreneurship and innovation that will spur growth of viable Micro, Small and Medium Enterprises. Innovative and viable enterprises will contribute to economic growth, job creation and retention of resources within the country,” Mr. Mubanga stated.

He said there is a need to formulate programs that will reach rural areas and educate women on financial literacy and train them in life skills so they understand how to access the funds and set up businesses.

Mr said the government wants to see more development in rural areas the reason it has given out the funds needed such as the Constituency Development Fund (CDF) and other empowerment programs which people must tap into.

And Finish Ambassador to Zambia Pirjo Suomela-Chowdhury said the finish government is eager to support MSMEs in Zambia through the Accelerated Growth for Small and Medium-Sized Enterprises program which has been going on for the past few years.

“I am delighted to see Zambia and Finland work together to promote industry-academia collaboration on innovation for long-term competitiveness, and for a truly vibrant and sustainable private sector. It is important to bring together companies and the next generation experts to jointly identify future opportunities, challenges and solutions” Pirjo Suomela-Chowdhury said.

12 COMMENTS

  1. Constantly blaming others for your own failures. Yoh promised people heaven on earth so give them just that! Chlkamba iwe chicar-la charweeso

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  2. Kaiser Zulu continues to masquerade on this forum as on high moral ground when frequently being dragged to courts of law for civil and criminal offences. So we remind you to pay $13,000 you owe Mr Stephen Mulembeta Samuteba. You promised to pay this money within 30 days from 24th March 2022. Free advice is pay the debt, do not dare ACC, ask Bowman Lusambo now sleeping in the street. Swallow your pride we could all help you on this forum, Sparka, Saulos. Henry etal are all willing to help than visiting you in jail.

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  3. Its very true that PF presided over worsening economic stats all its 10yrs.PF ruined Rupiah Banda’s stellar economic stats of record forex reserves, 7% GDP expansion,bumper harvests etc.

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  4. Lungu is the worst President Zambia will ever have in the next one hundred years. The man and his Pf destroyed an Economy that was growing at 7% GDP per annum when they took over in 2011, the guy is incompetent, dull, violent and glorified theiving. How did we end up with such mediocrity? People who don’t talk about their past end up repeating the same mistakes, we are here not by mistake but by the sum total of Lungu and Pf”s mediocrity and nobody should stop us from commenting on Lungu’s misrule. I believe the more we talk about our past the more our cheap Politicians will be aware not to repeat or copy Lungu’s disastrous leadership. Only countries that are mindful of their past advance rapidly. Israel still talks about the holocaust since 1945. Please give us a break.

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