Financial institutions urged to provide affordable finances to baking industry


Austin Mwale, a player in the cake baking industry, has called on financial institutions to make available, and affordable, finances to those actively engaged in the business.

Mwale made the call in Lusaka on Friday during the 3rd Cake Conference.

He named lack of adequate access to finances and other economic challenges, such as power rationing, as crippling the growth of the cake industry in Zambia.

He said, faced with the daunting task of satisfying the growing demand in the cake business, players convened in Lusaka to discuss measures to deal with the challenges.

“The theme of the conference: Redefining the mindset towards the business of baking,” is testament to the hardships that bakers are facing. Financial stress has crippled and frozen many businesses,” Mwale stated.

Read More: SMEs encouraged to invest in capacity building to access more financing, achieve rapid growth

He said bakers currently face many challenges and opportunities, from shifting consumer preferences to economic uncertainty and technological advancement.

“This makes it hard to handle multiple orders. However, this can be overcome by planning ahead. We have the opportunity to challenge the conventional thinking to break free from the constraints of tradition,” he stated.

On the sidelines of the Conference, Dr. Kalasa Mwanda told Zambia Monitor that the cake baking industry had potential to thrive and prosper.

“Through harnessing passion, creativity and resilience, players can build successful businesses that will have a positive impact on communities world over,” he said.

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