CREATION OF SMALL AND MEDIUM ENTERPRISES MINISTRY HAILED
THE Chamber of Commerce in NorthWestern Province has welcomed the creation of the Ministry of Small and Medium Enterprise Development by President Hakainde Hichilema.
Chamber president, Mukumbi Kafuta, said in an interview that the creation of the ministry which will basically be responsible for facilitating the creation and growth of SMEs was well thought of.
Mr Kafuta said the move was a clear demonstration of President Hichilema’s recognition of SMEs which were the largest economic players of the country.
He said the move would give stakeholders an opportunity to quickly engage the minister in charge understand government’s vision towards transforming the SME sector.
“Therefore, the coming up of this ministry is very strategic and deliberate in giving the SME sector focused attention to create a condusive business environment that would allow SMEs to thrive and participate meaningfully across all sectors of the economy,” Mr Kafuta.
Mr Kafuta advised government to come up with policies that would be tailored towards local content procurement system and empowering of SMEs through financing of their projects if the SMEs are ex to benefit from the new ministry.
“And that is where we want to see a well-designed value chain especially in agriculture, processing, manufacturing, transportation, trade among other sectors of the economy, where SMEs should be the major players and key creators of wealth, jobs and generation of foreign exchange, “he said.
President Hichilema announced the creation of the new ministry and appointed Mr Elias Mubanga as minister in charge.