By 
Government has urged financial institutions to design tailor-made financial products for the textile and fashion industry as part of efforts to accelerate industrialisation and job creation.
Ministry of Small and Medium Enterprise Development acting permanent secretary, Florence Sichundu, said the sector held strong potential to empower women and youth through value addition and export growth.
Speaking at the launch of the Entrepreneurs in Residence (EIR) Financial Literacy Programme for micro, small and medium enterprises (MSMEs) in the textile and fashion industry on Wednesday in Lusaka, Sichundu said many creative businesses continue to struggle due to weak financial management skills.
Read more: President Hichilema urges financial institutions to lower lending rates for MSMEs at Lusaka Indaba
She noted that most challenges facing MSMEs in the sector stemmed not from lack of talent or market demand, but from limited financial literacy, inadequate financial systems and poor access to finance.
“The EIR programme goes beyond theoretical training by embedding experienced entrepreneurs and industry experts to offer hands-on mentorship and practical support,” she said.
She said the initiative would equip participants with critical skills in business formalisation, scaling and responsible borrowing — all essential for long-term sustainability.
Sichundu further encouraged financial institutions to continue developing MSME-friendly products that respond to the realities of the textile and fashion industry.
The programme is being implemented in partnership with ZCAS University and Impact Hub Lusaka, and is aimed at bridging the gap between creative talent and sustainable business management.
Meanwhile, Impact Hub Lusaka chief executive officer, Cecilia Zimba, said Zambia was shifting towards investing in practical capability rather than credentials alone.
Zimba described entrepreneurship as a pillar of national development, noting that learning anchored in action has the power to transform lives quickly.
“The Entrepreneurs in Residence programme for the textile industry is more than a training initiative, but “possibility in motion,” she said.
ZCAS University vice-chancellor, Edwin Bhenkele, said the programme marked a milestone in strengthening public-private partnerships to build investor confidence.
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.
Comments