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Minister of Small and Medium Enterprise Development, Elias Mubanga, has urged the adoption of innovative financing models to dismantle barriers that prevent small businesses from accessing affordable capital.
Speaking during a roundtable at the EU–Zambia Lobito Corridor Business Forum in Lusaka, which drew panelists from both local and international public and private sectors, Mubanga cited the high cost of capital as a major constraint to SME growth.
“The price of capital must be fair in order to drive sustainable, inclusive, and privately-financed regional development,” Mubanga said.
He stressed that affordable financing is not only vital for small businesses but is also fundamental to building wider economic resilience.
Mubanga further outlined the government’s commitment to improving the business environment and attracting investment.
“Government is committed to implementing necessary reforms that will build investor confidence, signaling a push for policies that de-risk private sector investment into Zambia,” he stated.
Assuring potential investors, he emphasized that all resources mobilized for the Lobito Corridor would be managed responsibly and directed toward national economic development.
The Minister added that the forum reflected the growing international focus on the Lobito Corridor as a driver of economic integration and development, positioning Zambian SMEs as key beneficiaries of the initiative.
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