Prospero Zambia, ZCGS partner to boost SME financing and capacity building

Prospero Zambia and the Zambia Credit Guarantee Scheme (ZCGS) have signed an agreement aimed at expanding access to finance and strengthening the capacity of Small and Medium Enterprises (SMEs) across the country.

The partnership seeks to catalyse Zambia’s next phase of economic growth by fostering a vibrant SME ecosystem capable of generating jobs, promoting value addition, and driving local innovation over the next five years.

The agreement was signed on Thursday in Lusaka by Prospero Zambia Chief Executive Officer Mutumboi Mundia and ZCGS acting Chief Executive Officer Albert Chivweta.

Speaking during the ceremony, Mundia said the partnership represented a strategic alignment of enterprise support and financial innovation, designed to bridge the longstanding gap between business development and credit access.

She explained that the collaboration created a more integrated and sustainable ecosystem for Zambia’s enterprises, supporting initiatives such as the Nyamuka business growth and market linkages programs.

“In the mining sector, for example, Prospero complements training under the Nyamuka Supplier Development Programme with the Nyamuka Dynamic Facility, which provides financing to SMEs engaged in the development programme,” Mundia said.

She added that combining capacity building with access to finance is a holistic approach to help businesses grow sustainably, forming part of the broader initiatives the partnership intends to roll out.

Mundia noted that SMEs often struggle to access affordable financing due to high perceived risk, lack of collateral, and limited financial literacy.

“The new framework directly addresses these challenges by de-risking SME lending while simultaneously strengthening business readiness, enabling local enterprises to access growth capital with greater confidence and accountability,” she said.

Meanwhile, Chivweta described the partnership as a pivotal step in enhancing SME competitiveness.

“Through this collaboration, we are creating a stronger, more responsive financial landscape, one that enables SMEs to access capital while building the capacity to grow sustainably,” he said.

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