Thu, 20 Jul 2017 08:37:13 +0000
By BUUMBA CHIMBULU
BARCLAYS Bank Zambia has injected K600, 000 towards the hosting of the 3rd Nyamuka Zambia Business Competition slated for this Thursday which aims at supporting the growth of Small and Medium Enterprises (SMEs) across the country.
And ZANACO has also injected K100, 000 towards the hosting of the same event.
The Nyamuka Zambia National Business Conference which will be held under the theme: “Building Businesses to Last” is aimed at building the economy by promoting and empowering SMEs in the country.
Speaking at the official launch of the Conference in Lusaka, Barclays Bank Zambia, head of business banking, Regina Mulenga, said her bank supported innovative ideas such as the Nyamuka Zambia Business Competition plan to support the local industry.
“We are proud to be the anchor sponsors of the Nyamuka Zambia Business Competition for the second year running with an increased contribution of K600, 000 so as to complement efforts to boost a solid pipeline of local entrepreneurs as well as encouraging entrepreneurship as a career choice,” she said.
Ms. Mulenga said Barclsys was committed to supporting growth of businesses, especially among the young people.
“While SMEs are critical to Africa’s development, and for Zambia in particular, they face multiple challenges and constraints to their growth and development, this contributes to high rates of failure, they limit growth, thus prevents the SMEs sector from realising their full potential as an engine of economic growth,” she said.
And speaking at the handover ceremony of the cheque on Friday, ZANACO managing director, Henk Mulder, said the bank was committed to supporting the growth of the SMEs in the country as they were vital to the development of the economy.
Mr. Mulder said the bank currently had 100,000 SMEs on its loan book.
“SMEs or entrepreneurs are the engine of economic growth and are an important component of any country’s economy, so as a bank, we are proud to be partnering with Nyamuka Zambia Business Competition, our partnership dates back from 2014,
“Our focus in the market is around SMEs and most of these SMEs are farmers and are an engine of economic growth of Zambia and the world as a whole,” he said.
Commenting on the development, Nyamuka Zambia manager, Namaya Lewanika, said the funds provided by the banks would assist Nyamuka work with entrepreneurs in providing skills training and capacity building.
She explained that the conference would include high level keynote speakers, plenary sessions with captains of industry and panel discussions with entrepreneurs and business leaders who were paving the way for growth and job creation in Zambia.
“The conference is a key part of the Nyamuka Zambia Business Plan Competition, which seeks to unleash entrepreneurial talent across Zambia and to promote diversity, especially by encouraging more women and young people to enter the entrepreneurial space in the country,” she said.
