Minister of Small and Medium Enterprise (SMEs) Elias Mubanga has urged the financial sector to find ways of engaging even the smallest SMEs in the local market.
Mr. Mubanga says the government wants to bring every business small and big on board and create an enabling environment that will allow all enterprises to grow and contribute to the growth of the country.
Mr. Mubanga said this in Lusaka yesterday, when MasterCard in partnership with a Zambian based Fintech Company Pay-Go launched a new merchant mobile payment solution supported by ZANACO.
“We understand the problems that our small and medium enterprises face, it is access to finance through digitalization of payments but a long lasting solution has been presented through Pay-go, ‘’ he said.
Mr. Mubanga commended the Digital Pay-Go and the players involved in developing such an innovative payment solution.
Pay-Go Chief Executive Officer, Charity Mwanza said the SMEs in a box will tailor for the most demanding needs of the SMEs by providing a payment solution that can be used on a mobile phone, smart card and other channels.
Ms. Mwanza noted that the SMEs in a box merchant solution will greatly help the small enterprise and enhance their efficiency.
And the president of the payment Association of Zambia Robert Phiri said the innovation aligns with the vision of the association by assisting in the advancement of payment in Zambia.
Mr. Phiri said Zambia has for the last 20 years improved greatly in the digitalization space.