Ministry of Commerce Trade and Industry has disclosed that it is undertaking the review of the Small Medium Enterprises (SMEs) Development Policy due to the sector’s critical contribution to economic growth and national development.

Speaking during the COMESA Business Council Local Sourcing for Partnerships Online Training Workshop Ministry Permanent Secretary Mushuma Mulenga revealed that the Ministry has reached an advanced stage in the Policy review process as key stakeholder and country-wide consultations have been made adding that a revised and updated Policy is scheduled to be completed for implementation in 2021.

Mr. Mulenga said once completed, the revised SME Development Policy will be alive to the current challenges and opportunities that the sector can capitalise on to enhance a thriving private sector.

“I am glad to inform you that the Ministry has reached an advanced stage in the Policy review process as key stakeholder and country-wide consultations have been made and a revised and updated Policy is scheduled to be completed for implementation in 2021,” he said.

He noted it is time for SMEs to realise their potential and local sourcing linkages between the sector stating that this has the potential to foster a more competitive and dynamic agro – industry sector that can promote local economic development through supporting the local producers in the agriculture sector by strengthening business linkages and establishing sustainable supplier-buyer relationships.

Meanwhile Common Market for Eastern and Southern Africa Business Council (CBC) says CBC has been implementing the Local Sourcing for Partnerships (LSP) Project since 2016, with the main objective of increasing local sourcing from small growth enterprises by large companies in the COMESA region in order to create jobs and economic development.
CBC Chief Executive Officer Sandra Uweru said LSP project has successfully conducted similar trainings on quality and food safety standards that benefited more than 700 agro food suppliers in 11 countries including Zambia.

“The LSP project has successfully conducted similar trainings on quality and food safety standards that benefited more than 700 agro food suppliers in the following 11 countries: Kenya, Uganda, Rwanda, Ethiopia, Malawi, Egypt, Zimbabwe, Zambia, Madagascar, Tanzania and South Africa. This is the second time it is been conducted in Zambia,” she said.
Ms. Uweru has since reiterated that promoting SME’s competitiveness demands actions from both the public and the private sector.

“The public sector has a role to play in ensuring a business-friendly environment and legislating to promote enterprise development and investment,It is also important for us, as the private sector to build our capacities to meet the industry standards,” she said.