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During the official opening of the fourth session of the 13th National Assembly on Friday in Lusaka, President Hakainde Hichilema detailed government initiatives aimed at bolstering Micro, Small, and Medium Enterprises (MSMEs).
He reported that the Citizens Economic Empowerment Commission (CEEC) had disbursed K189.2 million in loans this year to support MSMEs.
Additionally, the Zambia Credit Guarantee Scheme continued to provide financing, with a notable increase in the number of SMEs accessing these funds through commercial banks, according to him.
Hichilema urged loan beneficiaries to repay their loans to ensure wider access for other Zambians.
He also mentioned that the number of banks involved and the scheme’s outreach to rural areas had both expanded.
The President highlighted the disbursement of over K485 million from the Constituency Development Fund (CDF) this year, targeting youth, women, community groups, and businesses.
He emphasized the government’s commitment to empowering vulnerable groups and promoting inclusive economic participation.
Furthermore, Hichilema announced forthcoming legislation to boost local manufacturing by encouraging public procurement of locally produced goods and services, aligning with the “Proudly Zambian” campaign.
The government, he said, was also intensifying economic diplomacy to enhance Zambian exports by addressing trade barriers and engaging with strategic trading partners.
He concluded by noting the significant role of MSMEs in innovation, employment, and wealth creation and the recent revisions to the MSME development policy and preferential procurement regulations aimed at increasing MSME participation in public procurement.
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