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Small and Medium-Sized Enterprises (SMEs) must accelerate their adoption of digital technologies as regulatory changes increasingly make digital capability a requirement for doing business in Zambia’s formal economy, Liquid Intelligent Technologies Zambia Chief Executive Officer, Leah Kooma, has said.
Kooma said government policies and changing business requirements meant digital transformation was no longer simply a competitive advantage but had become essential for businesses seeking to access new markets and remain compliant.
She pointed to Statutory Instrument No. 68, which requires mining companies to engage a prescribed number of Zambian-owned contractors, saying the measure created new opportunities for SMEs but also demanded greater operational readiness.
Kooma also cited the Zambia Revenue Authority’s Smart Invoicing System, noting that businesses seeking to supply major retailers must have the digital capability to meet the tax authority’s compliance requirements.
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“Compliance is becoming a strong driver of digital adoption in the country,” she said in a write-up titled The Digital Economy Starts with SMEs: Why Zambia’s Future Depends on Small Business Success.
She said digital transformation did not necessarily require significant capital investment, adding that many businesses could start by adopting simple technologies that improved efficiency and customer service.
According to Kooma, digital payment platforms, cloud computing, cybersecurity solutions and artificial intelligence applications can help SMEs streamline operations, improve productivity and build customer confidence.
She added that maintaining a professional email address, responding promptly to customer enquiries and using digital marketplaces can significantly improve the competitiveness of SMEs by expanding their customer base beyond local communities.
Kooma said the transition to a digital economy would require stronger collaboration between Government, financial institutions and technology providers.
She urged government agencies to continue engaging SMEs to better understand the challenges they faced, while calling on financial institutions to develop lending models that reflected the realities of small businesses.
Kooma also said technology companies had a responsibility to provide practical guidance alongside digital solutions to help entrepreneurs identify the technologies best suited to their businesses.
“Many entrepreneurs know they need to modernise but aren’t sure where to start or which investments will deliver the greatest value. Practical guidance is therefore just as important as digital tools,” she said.
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