HH advises businesses to collaborate

By Ruth Chayinda

President HAKAINDE HICHILEMA has urged Micro Small Medium Enterprises -MSMEs-  and cooperatives in the country to embrace collaboration, in order to reach their full potential and contribute to the economy.

President HICHILEMA says the government is aware of the challenges that MSMEs and cooperatives are facing and continues to work at addressing them .

President HICHILEMA cited  the lack of access to affordable finance, limited local and international markets and low uptake of new technology as some of the issues that are hindering growth of the sector .

The Head of State has since expressed optimism that with the debt restructuring deal completed , the Government will have enough  fiscal space to provide financial  support to cooperatives and SMEs in the country.

The President said this in a speech read on his behalf by the Small and Medium Enterprises Development Minister  ELIAS MUBANGA during the 2024 MSME and cooperative Indaba.

The Indaba is being held under the theme harnessing the power of collaboration in fostering MSME and cooperative growth for sustainable economic development.

And Acting SME Minister MAKOZO CHIKOTE said SMEs and Cooperatives are critical to  driving the  economy through wealth and job creation.

Meanwhile, Small and Medium Enterprises Permanent Secretary SUBETA MUTELO said the ministry  will put in place policies and Legislation to allow the SMEs to thrive .

And the Zambia Cooperatives Federation President CEASER MUKAMPANDE said the indaba will create an opportunity for cooperatives to find solutions to some of the challenges that are hindering their growth .

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