Private Sector Development Association Chairperson Yusuf Dodia has criticized the Ministry of Small and Medium Enterprises (SMEs) Development for admitting that funding applications can take over a year to process. On Saturday, Ministry Permanent Secretary Subeta Mutelo acknowledged that the Ministry’s strong vetting process contributes to extended waiting times for SME funding.
Dodia described the statement as a public display of inefficiency. “I think it’s too long. For a ministry to even say it will take a year, they ought to be ashamed to make such a statement. It shows that even the inefficiency in the Ministry is now being publicized,” he said.
He further stressed that lengthy delays undermine SME growth and the broader economy. Access to timely funding is crucial for small businesses to scale operations, create jobs, and contribute to economic development. Dodia urged the Ministry to streamline its processes and adopt measures that ensure faster approval and disbursement of funds.
The Ministry’s current vetting procedures, intended to ensure proper allocation of resources, have drawn criticism for slowing down support to entrepreneurs who need immediate financing. Stakeholders argue that reducing bureaucratic delays could significantly improve SME productivity and foster innovation.
Dodia called for accountability and efficiency reforms, emphasizing that public acknowledgment of delays should lead to corrective action rather than normalizing prolonged waiting periods. The statement from the Ministry highlights a growing concern over operational bottlenecks that affect Zambia’s small business sector.
Efforts to accelerate SME funding processes remain critical as small and medium enterprises continue to drive economic growth, employment, and diversification in Zambia. Streamlining funding approvals could provide a stronger foundation for sustainable business development and investor confidence.