Finding ways to finance small enterprises at a reasonable price is necessary, according to SUBETA MUTELO, the Permanent Secretary for the Development of Small and Medium-Sized Enterprises.
When a delegation from the Zambia Credit Guarantee Scheme (ZCGS) visited her office as a courtesy, Mrs. MUTELO stated that the majority of SMEs lack collateral for loans. The team was led by ZCGS Chief Executive Officer MARY MUMBA.
She claimed that organizations like ZCGS are essential in assisting SMEs in obtaining the required financial support from lenders at low interest rates.
Additionally, Ms. MUMBA stated that her company is in contact with financial institutions to assist SMEs in obtaining financing at fair interest rates.
She stated that her group works to guarantee small firms receive the necessary funding under favorable terms.