Govt seeks private sector collaboration to formalise SMEs

The government has called for collaboration with the private sector to encourage Small and Medium Enterprises (SMEs) to formalise their businesses.

Ministry of Small and Medium Enterprise Development Permanent Secretary, Subeta Mutelo, made the appeal during the launch of the “Time for Action” Conference in Lusaka on Wednesday evening.

Mutelo emphasised the need for SMEs to formalise their businesses, highlighting benefits such as easier access to finance.

She stressed the importance of private sector collaboration to ensure this initiative’s success.

“We have intensified our efforts to raise awareness on the benefits and incentives of formalisation. SMEs are advised to register their businesses,” Mutelo said.

“We cannot do this alone; we need everyone’s participation to help the economic growth of the country. We are working to educate SMEs on the advantages of formalisation.”

Mutelo noted that providing necessary support and incentives would encourage SMEs to formalise their businesses.

She also announced that the government was finalising trade treaties as part of the Africa Continental Free Trade Area.

“We need to ensure that as we finalise these treaties, we are ready to compete with developed countries,” she added.

At the same event, Mr Avert Ng’andu of DLN institute said: “Education and entrepreneurship are the pillars of progress. We must harness our collective potential to drive growth, innovation, and transformation.”

Ng’andu also urged collective efforts to build a brighter future, thanking the government for creating an enabling business environment and prioritising education.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.