$5m set aside for entrepreneurs’ credit scheme

By BUSINESS REPORTER ABOUT $5 million has been set aside for the establishment of a credit guarantee scheme for entrepreneurs, Finance Minister, Margaret Mwanakatwe has said.

The minister said the scheme would help facilitate access to affordable credit for local businesses.

Ms Mwanakatwe was speaking when she officiated at the British America Tobacco (BAT) entrepreneurship training programme for micro businesses in the informal sector.

The programme is aimed at supporting informal traders with capacity to grow their business into successful enterprises.

Ms Mwanakatwe said collaborative efforts were needed to address unemployment, reduce poverty and create wealth in a country.

“We welcome the initiative as it complements our efforts in attaining economic and social development through the Seventh National Development Plan (7NDP) and Vision 2030 without leaving anyone behind.

“As part of government’s strategy to diversify the economy and create jobs, we have and are continuing to create an environment that facilitates the sustainability and growth of micro small and medium enterprises, “she said. Margaret Mwanakatwe

She noted that the skills that would be given to the micro scale business persons would propel the growth of economically viable businesses.

The Minister said trainees would be imparted with business principles of risk management, financing and sustainability for the next three months.

And BAT managing director Godfrey Machanzi said the new factory in the Lusaka South Multi Facility Zone (LS-MFEZ) would be fully operational by October, this year.

He commended the government for a good working environment.