The Public Policy Institute of Zambia (PPIZ) has called on government to introduce interest free loans for Small and Medium Enterprises (SMEs) in Zambia.
PPIZ President Fabian Chewe has told Money FM News via telephone from Kitwe that there is need for government and other stakeholders such as banks to realize the full potential of SMEs and their contribution to economic development.
Mr. Chewe says Zambian SMEs are still facing numerous challenges and that is why it is difficult for them to fully participate in economic activities.
Mr. Chewe points out that the new taxes will make SMEs to struggle this year more especially the start-ups as they will have to navigate in a new business with a pile of taxes.
“These start-ups needs the full support of all stakeholders for them to make strides in their business. But I think with the current tax system in Zambia, they will struggle a lot this year,” he said.
Mr. Chewe states that these SMEs are the engines of the economy and they are at the center of creating the much needed jobs in Zambia.
“We have countries like the US where 90% of the economic activities are driven by the private sector, these are SMEs. Why can’t we do the same by supporting the SME sector,” he questions.
Mr. Chewe has acknowledged that Zambia has a problem with job creation which he says can be addressed by SMEs if they are well supported.

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