Prospero Limited pledges to support SMEs for economic growth

PROSPERO Limited, a Zambian registered, and non-profit making company has said it will work in line with government policies to catalyse the development and growth of the Small and Medium Entrepreneurs (SMEs) because they are playing a vital role in the country’s economic recovery.

Prospero Limited chief executive officer Murtumboi Mundia said her organisation was seeking to support government policies and efforts to catalyse the development and growth of the SMEs through financial and technical support in various areas.

Ms Mundia said her organisation, which was supported by the British government, has already received US$120 million for the SMEs and will ensure that it supports them in agriculture, food and other critical areas that needed the support from her organisation.”

“We are on the side of the SMEs and we want them to effectively implement ambitious projects that will contribute to setting a firm and strong stage for economic recovery and national development. SMEs play a vital role in economic recovery and national development and so they must be supported to develop and grow,” she said.

“As an organisation, we want to work in line with government policies to catalyse the SMEs, understanding the challenges they face and proceed to offer and provide solutions to their problems. Most of the businesses are in the SMEs, hence makes it imperative to support SMEs,'' Ms Mundia said.

Ms Mundia said her organisation was a Zambian registered, independent, not for profit company that supports the private sector development and facilitates impact investment, transitioning growth-stage business across the country.

“We support SMEs to develop innovative business models that benefit marginalised population. We develop a strategic mix of innovation, social and economic impact. We apply a market systems development approach to support SMEs and develop an enabling business environment for private sector growth and investment,” Ms Mundia said.

"We provide technical assistance to SMEs to help support them to grow their businesses and be able to access commercial financing and investment. We have built a diverse pool since 2014 of over 400 SMEs,'' she said.

“We have built the investment ecosystem in Zambia through helping to set up Zambia Business Angels Network (ZBAN) and the growth of the impact Capital Africa. We also develop innovative financial mechanisms to support financial institutions to provide SMEs with easier and more affordable access,” she said.

And Kitwe District Administrative Officer Mwamba Mulenga encouraged women clubs and cooperatives in the district to access the Constituency Development Fund and engage in activities that will help to alleviate hunger and promote food security.