Zambia News

Mubanga: SMEs Still Need Government Support.

The government claims that there is still a significant shortage in funding for the nation’s microbusinesses.

At the signing of a Memorandum of Understanding for the extension of loan facilities to members of the Zambia National Marketeers Association (ZANAMACA), Small and Medium Enterprises Development Minister ELIAS MUBANGA made this disclosure.

According to Mr. MUBANGA, the distribution of K650,000 to 276 ZANAMACA members was a wise strategic choice made to support the expansion of SMEs.

KOWDICHAR SHASHIDAR, managing director of Indo Zambia Bank, stated at the same event that the bank has the knowledge and capability to take advantage of the favorable and stable economic conditions brought about by the government.

The president of ZANAMACA, MUPILA KAMEYA, also praised the government for assisting the unorganized sector.

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