Wednesday, June 19, 2024

Private sector backbone of development-Mubanga


Minister of Small and Medium Enterprise Development, Elias Mubanga, says government will continue to harness partnerships with the private sector in order to benefit small and medium enterprises (SMEs) in the country.

Mr Mubanga says partnerships with the private sector, especially those that boost the financial muscle of SMEs, is a backbone of economic development of the country.

She observes that the development of SMEs through private partnerships is key to the economic recovery of the country, adding it is also one of the sustainable ways of reducing poverty in the country.

He was speaking when he officiated at the celebration of Zambian Entrepreneurships and SMEs, a programme organised by Inde Credit in Lusaka.

Mr Mubanga has thanked Inde Credit for providing unique financing opportunities to Zambian SMEs as the effort helps to unlock and enhance the economic growth of enterprises in the country.

And Inde Credit Chief Executive Officer, Nicolas Megeles, said since his company was launched in 2016, over K1 billion has been disbursed to Zambian SMEs to empower them financially in their various business operations.

Mr Megeles said Inde Credit has empowered more than 400 SMEs and in turn created over 300 jobs in the country.

He pointed out that the Inde Credit is now working to reach out to micros business owners in order to give them access to financial opportunity so that they can unleash their full potential.

Meanwhile, Managing Partner for More Power Media, Leo Mutanga, thanked Inde Credit for providing an opportunity to SMEs to have access to finance, which he said has helped them grow their business.

Mr Mutanga also encouraged upcoming SMEs to look out for financial companies such as Inde Credit that are ready to financially assist them in order for them to address financial challenges in their day to day operations.

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