The Bank of Zambia has committed five billion Kwacha to the Small Business Growth Initiative (SBGI), a landmark facility aimed at unlocking capital for Micro, Small, and Medium Enterprises (MSMEs).
The initiative, developed in partnership with the National Advisory Board on Impact Investment (NABII) Zambia, is designed to expand access to affordable finance for MSMEs through credit guarantees, technical assistance, and a learning lab.
Bank of Zambia Governor, Denny Kalyalya announced the initiative in a speech read for him by his Deputy, Francis Chipimo, in Lusaka, when he officially opened the Africa Impact Summit 2026.
Dr Kalyalya stated that the development of the SBGI, is at an advanced stage with the launch expected in the fourth quarter of 2026.
The Summit, focused on the mobilisation of capital for Africa, is being held under the theme “Beyond Borders: Scaling Impact and Innovation for Africa’s Sustainable Transformation.”
“With successful implementation, we anticipate the SBGI will attract other cooperating partners including development finance institutions and other strategic investors and will broaden the suit of services available to MSMEs,” he stated.
Speaking at the same meeting, Special Assistant to the President for Finance and Investment, Jito Kayumba underscored the importance of aligning public policy with private capital mobilisation.
He noted that Zambia has made headway in doing so, through various initiatives such as the creation of the Public Private Dialogue Forum, as a deliberate move to engage the private sector in policy formulation.
Mr Kayumba also highlighted the move by government to introduce the 24-hour economy as one of the initiatives meant to strengthen productivity and create a conducive environment for generation of capital.
He further reaffirmed Zambia’s commitment to regional integration by positioning Zambia as a logistical hub.
“Our commitment to regional integration through large scale infrastructure projects such as the Lobito Corridor, the TAZARA prosperity belt, the Kazungula Bridge Authority ensures that land linked countries such as Zambia serve as logistic and economic hubs for the entire continent,” he explained.
Earlier, World Bank Practice Manager, Alwaleed Alwatabani revealed that Africa’s annual infrastructure financing gap is estimated at 170 United States Dollars annually, among other challenges.
He stressed that such calls for a sustainable continental response as they cannot be single-handedly funded by any African country.
