The Citizens Economic Empowerment Commission (CEEC) and the Zambia Development Agency (ZDA) have signed a Memorandum of Understanding ( MoU) as a pivotal step in addressing challenges faced by Small Medium Enterprises (MSMEs) through the provision of both financial and non-financial support to MSMEs across Zambia.
ZDA Director General, Albert Halwampa, says Small Medium Enterprises are important for Zambia’s economy as they contribute significantly to job creation, poverty reduction, and diversification of the economy.
Mr. Halwampa expressed his concern towards the numerous challenges that hinder the growth and sustainability of Small Medium Enterprises such as inadequate infrastructure, lack of skills marketing and export readiness.
Speaking at the signing ceremony in Lusaka today, Mr. Halwampa said the purpose of the MoU is to create a formal framework that will enable both organizations to work collectively.
“The aim of this partnership is to empower Zambian businesses by offering the tools, guidance and capital to penetrate and thrive in global markets,” said Mr. Halwampa.
Speaking during the same event CEEC Director General, Muwe Mungule, said that the MoU will also enhance the contribution of Small Medium Enterprises into the economy and ensure that they have appropriate access to high value markets and global markets.
“The two institutions are created for the purpose of ensuring value creation not just for foreigners but for Zambians and their economy.” said Dr. Mungule.
By Cecilia Zulu
