The Ministry of Small and Medium Enterprise Development has announced its commitment to empowering youths in Zambia’s mobile money sector. Permanent Secretary Subeta Mutelo described mobile money businesses as critical micro-enterprises that deserve the same level of attention and support as other business ventures.
Speaking in Lusaka, Ms. Mutelo highlighted the Ministry’s strategy to foster innovation, collaboration, and economic growth in 2025. This includes exploring loan allocations tailored to cover customer acquisition costs, which are a major challenge for small-scale mobile money operators.
Supporting Micro-Businesses
“Mobile money businesses are micro-businesses that deserve equal attention,” said Ms. Mutelo. “The Ministry is dedicated to creating a coordinated business environment to spur economic development.”
The Ministry has pledged to identify high-growth-potential businesses and support them through initiatives such as certification, business linkages, and access to alternative funding sources.
SMEs: A Backbone of the Economy
Ms. Mutelo reaffirmed the government’s focus on enabling small and medium enterprises (SMEs), which currently contribute 80% to Zambia’s economy. She emphasized the importance of empowering SMEs to thrive, particularly in sectors with significant growth potential like mobile money services.
“The Ministry has pledged to foster a favorable business environment, ensuring that SMEs have access to alternative funding sources,” she stated.
Youth Empowerment Through Innovation
Addressing the requests from the Mobile Money Business Association for government support, Ms. Mutelo welcomed the opportunity to collaborate. She assured stakeholders that 2025 would feature a range of empowerment initiatives designed to uplift youth-run mobile money businesses.
These initiatives include innovation programs, partnerships, and direct engagements with stakeholders to address key challenges like customer acquisition costs.
“We will prioritize empowerment, innovation, and collaboration to ensure that businesses, particularly those run by youths, have the tools they need to succeed,” said Ms. Mutelo.
Strengthening the Mobile Money Ecosystem
The Ministry’s announcement comes at a time when mobile money services are playing an increasingly vital role in financial inclusion across Zambia. By supporting youths in the sector, the government hopes to expand access to financial services while driving economic transformation.
The Ministry’s collaboration with stakeholders, including the Citizens Economic Empowerment Commission (CEEC), is expected to create a more robust and inclusive mobile money ecosystem in the country.
As the Ministry rolls out its initiatives, mobile money businesses will be better positioned to overcome barriers and scale their operations, contributing to Zambia’s broader economic development goals.
