COMESA BENEFITS 150 SMES

Lusaka, July 16 - About 150 Small Medium Enterprises (SMEs) have so far benefited from the Common Market for Eastern and Southern Africa (COMESA) SME toolkit programme.

The programme being carried out in conjunction with ZANACO Bank is aimed at empowering SMEs throughout the country by enhancing their business planning, access to finances and marketing strategies.

COMESA SME toolkit Project Regional Coordinator Edwin Zulu told ZANIS in an interview in Lusaka today that the programme is also targeted at making the Zambian SME sector competitive in the COMESA region.

Mr. Zulu noted that this is because the SME sector was one of the significant industries that played an important role in the country’s economic growth.

“You know the SME sector is very important in the growth of our economic, so in this programme we want to make sure that Zambia’s SME remain active in the

regional competition, “he said.

He added that the sector was also rated as number one in employment creation opportunities especially among vulnerable groups in society hence the need to be supported.

Mr. Zulu said therefore the sector should be made viable by devising mechanisms that would promote its growth therefore achieving intended target of contributing to the country’s economy.

He noted that there was need to ensure people in the SMEs business were well equipped with good business plans and financial keeping management skills to sustain their businesses.

He also added that the sector could be productive, if SMEs had the capacity to undertake various business ventures and have increased access to finances.

“SMEs should be helped with capacity building on how to come up with good business plans and also increasing access to funds is important for them to stay in the business,” said Mr. Zulu.

Mr. Zulu appealed to financial leading institutions in the country to also play an active role in promoting the growth of the SMEs by relaxing their lending rates and formulating empowerment products that could attract SMEs.

He further thanked ZANACO bank for being proactive in the programme and urged other banks to emulate the gesture if many people were to benefit.

The empowerment programme that is expected to cover all the country’s nine provinces has so far been undertaken in Eastern, Northern and Luapula Provinces.

ZANIS