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ZDA DANGLES SMES EXPANSION FUNDS

By BUUMBA CHIMBULU

THE Zambia Development Agency (ZDA) is lending a maximum of US$100,000 to enterprises in an effort to help them expand their businesses and improve exports.

This is being done under the Zambia Export Development Fund (ZEDEF) which seeks to improve the country’s exports.

 ZEDEF, a three million Euros fund under the ZDA with the European Union (EU) was launched in January 2017.

ZDA is currently lending the funds at eight percent interest, says ZDA Manager-Exports, Albert Halwampa.

Mr Halwampa said the fund was working with close to 50 Small and Medium Enterprises (SMEs) in the country.

He this when a delegation from ZDA led by its Board Chairperson toured Fens Investment Limited in Kafue.

“We do lend under the Zambia Export Development Fund with a maximum of US$100,000 it is an export fund specifically for those exporting to regional and neighbouring markets.

“That is another pot you can access. You can come through to ZDA and the interest rate is eight percent per annum,” Mr Halwampa said.

During the same tour, ZDA Board Chairperson, David Masupa, encouraged Fens Investments Limited to utlise all available options for possible funding.

Bishop Masupa said ZDA would assist to address the challenges the company was going through as they bordered on export, enterprise and development.

“We are grateful that you are making efforts in your investments, we also want to thank you because you have shown levels of graduation from the time you started. It only got to show that you are serious,” he said.

Speaking earlier, Fens Investment Limited Chief Executive Officer, Felix Nseluka, said the company was looking for US$2 million as working capital.

Mr Nseluka said he was scouting for an equity partner for the businesse.

“The market is yawning and roads opening in Angola provides an opportunity. I am looking for an equity partner and not a loan. We need working capital of about US$2 million then we can be somewhere else.

“If we can find a partner to work with then well and good, we can be more productive,” he said.

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