By GIDEON NYENDWA
ZANACO Plc has disbursed over K150 million to small and medium entrepreneurs (SMEs) in 2022, representing 81 present growth in the number of loans that have been paid out compared to the previous year.
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Zanaco Plc Chief executive officer Mukwandi Chibesakunda said the bank believes growth would represent various growth initiatives and they were set to exceed what was achieved last year.
Speaking during the Zanaco micro-small and medium entrepreneurs (MSMEs) business clinic yesterday, Ms. Chibesakunda said the bank celebrates SMEs because they were employers and they contribute to the country’s revenue.
She said for an economy to grow SMEs have to contribute 50 percent of the GROSS Domestic Product (GDP) the bank is celebrating the SMEs because they make up about 97 percent of all businesses and contribute 70 percent of Zambia’s gross domestic product (GDP) and Zambia was just at 30 percent.
“For us to rally grow our economy SMEs have a role to play and we need to acknowledge that and support you through it,” Ms Chibesakunda said.
Ms. Chibesakunda said the theme baking business easy that Zanaco identified was the way to infusive their commitment to making life easy for SMEs.
And Minister of Small and Medium Enterprise Development Elias Mubanga commended Zanaco for not only providing finance to SMEs but also bringing together various stakeholders with the aim to develop holistic interventions such as the business clinic.
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