The Economic Association of Zambia (EAZ) says COVID-19 has amplified economic afflictions because of disruption in supply chains, business pulse and upsets in employment across various sectors.
Association Secretary Mutisunge Zulu told Money FM News, in a statement that this has clearly threatened attainment of Sustainable Development Goals (SDGs) prompting the association to step in with interventions that will seek to cushion youths and women from economic hardships.
“COVID-19 has amplified economic woes because of disruption in supply chains, business pulse and upsets in employment across various sectors. This has clearly threatened attainment of Sustainable Development Goals (SDGs) which has prompted EAZ to step in with interventions that will seek to cushion youths and women from economic hardships,” Mr Zulu said.
Mr Zulu said that it is also against this background that the organization has championed a program that would promote youth and women empowerment and has launched the Economics Association of Zambia National Economic Empowerment Initiative.
“It is against this background that EAZ has championed a program that would promote empowering youths and women, and as such has decided to launch the Economics Association of Zambia National Economic Empowerment Initiative,” he said.
He explained that the initiative aims at using crowdfunding to pool a wealth of ideas, skills and financial resources that will be used to partner and formulate various businesses across the country with the sole purpose of creating wealth and employment predominantly in the agriculture sector.
“Crowdfunding is the practice of funding a project or venture by raising small amounts of money from many people. It is based on three types of actors: the project initiator who proposes the idea or project to be funded, individuals or groups who support the idea, and a moderating organization (the “platform”) that brings the parties together to launch the idea. In this case, EAZ will act as the platform that actualizes the idea,” Mr Zulu further explained.
He noted that EAZ is currently engaging both state and non-state actors such as the Zambia National Farmers Union (ZNFU), Zambia Chamber of Commerce and Industry (ZACCI), Bankers Association of Zambia (BAZ), Zambia Congress of Trade Union (ZCTU), Mineworkers Union of Zambia (MUZ), Ministries responsible for Youth, Community Development, Chiefs, Livestock, Agriculture, Commerce and Information to ensure the initiative is a success.