Firm calls for strong partnerships, collaborations to help scale up small businesses


The Entrepreneurs Financial Centre (EFC) Zambia has called for strong partnerships and collaboration among stakeholders in small businesses empowerment initiatives.

Chief Executive Officer, Bedah Salasini, said strong partnerships and collaboration would impact the segment more and help create employment for many Zambians.

Salasini said this during the EFC Zambia Credit Rating announcement by Premier Rating Services in Lusaka on Tuesday.

He stated that strong partnerships and collaboration would help to scale up a lot of small businesses which would ultimately positively impact the economy.

“We have and continue to invest in appropriate technology to conveniently serve this segment and we have plans to expand our geographic footprint to reach more entrepreneurs in our nation,” Salasini said.

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

He, however, noted that there remained so much more to be done for this segment which is estimated to have over one million Micro-Small Medium Enterprises (MSMEs).

Salasini said one of the key strategic pillars was Risk Management and Regulatory Compliance and alo of emphasis should be placed on all parameters that embody a strong risk management and governance framework.

“Since inception 30 years ago, EFC Zambia has evolved into a Financial Institution that has direct impact on a key segment of our economy, the MSMEs,” he stated.

Dionysius Makunka, Premier Rating Services (PRS) Chief Executive Officer, stated that the ratings were based on EFC’s strong ratings for franchise value, corporate governance and financial transparency, risk positioning and financial strength.

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