Power and Politics

Government pledges continued support for small businesses


President Hakainde Hichilema has reaffirmed government’s commitment to the principles of solidarity, equity and inclusivity in the country’s development agenda.

Hichilema said government was committed to promoting the growth of Micro-Small Medium Enterprises (MSMEs) and Cooperatives in the country.

The Head of State said this during the 2024 Micro Small Medium Enterprises (MSMEs) and Co-operatives Indaba in Lusaka on Wednesday in a speech read on his behalf by Minister of Small and Medium Enterprises Development, Elias Mubanga.

The theme of the MSMEs and Co-operatives Indaba is “harnessing the power of collaboration in fostering Micro Small Medium Enterprises (MSMEs) and Cooperative growth for sustainable economic development.”

He said his administration had embarked on this journey because of the important role MSMEs played in national development.

“Inter-connection and inter-independence collaboration stand as a cornerstone of growth across all sectors of the Zambian economy particularly among MSMEs and Cooperatives,” Hichilema noted.

He stated that by providing MSMEs and Co-operatives genuine engagement in decision-making processes and capacity-building programmes can boost their creativity.

Read More: About 1.9 million people employed by Zambia’s micro, small and medium enterprises —Report

Hichilema added that this can also boost their resilience and entrepreneurial drive to stimulate development.

“Government is focusing on MSMEs and cooperatives’ engagement, as well as strengthening policy execution to promote and facilitate advanced investments for the nation’s long-term growth,” the Head of State said.

He stated that government was engrossed with the participation of MSMEs and Co-operatives and strengthening the implementation of policy to promote and facilitate increased remittances and investment for the nation to attain sustainable development.

Hichilema noted that in 2023, government through the Ministry of Small and Medium Enterprise Development launched the Revised National MSME Development Policy and its Implementation Plan (2023-2028).

“This underscored government’s commitment to creating an enabling environment for MSMES to thrive,” the Head of State said.

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