The Zambian government has announced that it will now be mandatory for individuals seeking loans from the Citizens Economic Empowerment Commission (CEEC) to undergo capacity-building training with the Kaizen Institute of Zambia. This new requirement is part of the government’s broader efforts to equip Small and Medium Enterprises (SMEs) with the necessary skills to successfully manage and repay loans.
Speaking at the two-day Kaizen capacity building seminar for SMEs at the Kafue Industrial Yard on Wednesday, Small and Medium Enterprise Development Permanent Secretary Subeta Mutelo emphasized the importance of empowering SMEs to thrive in Zambia’s growing economy.
“The government, under the leadership of President Hakainde Hichilema, is disappointed with some SMEs that have failed to repay their soft loans,” Mutelo stated. “We want to ensure that SMEs are well-equipped to use the loans effectively, and that they are supported with the right knowledge to succeed.”
Mutelo also announced that the government is moving forward with plans to develop industrial yards in Southern, Central, and Muchinga provinces, similar to the Kafue Industrial Yard. These industrial hubs aim to create a conducive environment for SME growth by providing infrastructure and opportunities for local businesses to flourish.
The government’s commitment to expanding industrial development across the country reflects its broader goal of driving economic growth, creating jobs, and supporting the entrepreneurial sector. Mutelo further noted that the industrial yard initiative would help businesses scale up and contribute to Zambia’s economic transformation.
As part of this initiative, the government will continue working closely with SMEs to ensure that they are equipped with the skills and resources needed to thrive in a competitive market. The capacity-building seminar is a crucial step toward fostering a sustainable and prosperous SME sector that can contribute significantly to Zambia’s economic development.