• The agreements will provide for government to recommend SMEs ready to access financial services from the banks.
• Government has developed programs that will enable TEVET institutions to introduce business skills in all courses.
• One of the challenges hindering SMEs from accessing financial support from commercial banks is lack of business skills.

Minister of Small and Medium Enterprise Development says government has engaged commercial banks to come up with programs that will support and accelerate the growth of SMEs.
Speaking in Parliament today, Elias Mubanga said the agreements will allow government to partner with commercial banks to equip Small and Medium Enterprises with the required business skills because one of the challenges hindering SMEs from accessing financial support is lack of business skills.
Mr. Mubanga revealed that one of the Commercial banks has already offloaded K 500 million on the market which SMEs can access.

He stated that Government has also developed programs that will enable Technical Education, Vocational and Entrepreneurship Training Authority (TEVET) institutions to introduce business skills in all courses.

“The agreements will provide for the government to recommend SMEs ready to access financial services from the banks. Government has developed programs that will enable TEVET institutions to introduce business skills in all courses. The program will provide a system for linking graduates from TEVET institutions stemming from establishing own businesses to empowerment skills,” Mr. Mubanga said.
And Mr. Mubanga disclosed that government has increased empowerment fund under Citizens Economic Empowerment Commission (CEEC) from to K350 million in the 2022 national budget from K 41 million in the 2021 budget in order to enhance the Commission’s capacity to support SME growth.
“Government will enhance the capacity of CEEC to perform its functions to support SME growth. Further government has put priority to review the CEEC Act to address the weaknesses that hinder empowerment of SMEs,” he added.
Mr. Mubanga was responding to Solwezi East Member of Parliament Alex Katakwe who wanted to know what measures government is taking in order to establish linkages between SMEs, Zambia Development Agency, Citizens Economic Empowerment Commission, Technical Education, Vocational and Entrepreneurship Training Authority and Banks to accelerate growth of the SMEs.