Manufacturers’ body says SMEs key economic enablers, calls for more business incubation

Zambia Association of Manufacturers (ZAM) president, Ashu Sagar, says Small and Medium Enterprises (SMEs) have the capacity to contribute effectively to the growth of the economy if nurtured.

“We are currently working with the Ministry of SME Development to ensure joint implementation of efforts towards the growth of SMEs,” Sagar revealed.

He made the remarks at the public discussion of the 2023 manufacturers’ month at the American corner, Copperbelt University in Kitwe on Tuesday.

Sagar recalled that ZAM had signed a Memorandum of Understanding (MoU) with CBU to undertake training of the SMEs in product development and commercialization as well as providing a six-month mentorship period.

“We opted to see growth in our engagements with the public sector, academia and research institutions because we believe true growth is a result of the growth and sustainability of the engagements between the different actors,” he said.

This year’s manufacturers’ month is being held under the theme “catalyzing value chains- leaving no one behind” placed small businesses at the centre of industrial growth.

ZAM stated that theme was drawn from the realization that the Zambian economy was making steady progress amid efforts to overcome the various economic challenges the country was facing.

He observed that this was in addition to the reality that SMEs had been the most vulnerable stakeholders and could be further threatened by lack of growth in the long run.

During deliberations former Association of Mine Suppliers and Contractors (AMSC) president, Augustine Mubanga, called for manufacturers to upscale quality of products and services.

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