• SMEs should take advantage of Covid -19 funds being offered by regional bodies such as COMESA.
• SMEs have been failing to access funding from financial institutions.
• This is threatening the existence of Small businesses.

Zambia Association of Manufacturers (ZAM) has urged Small Scale Medium Enterprises (SMEs) to take advantage of Covid-19 funds being offered by regional bodies such as COMESA.
Speaking to Money FM News, Association Executive Director Florence Muleya bemoaned the continued failure by SMEs to access funding from financial institutions amid the pandemic.
Ms. Muleya noted that financial institutions have continued to deny SMEs financial support during the pandemic in preference for well established companies.
“Covid-19 funds being released are not for our kind of SMEs, they are slightly for bigger companies that are already established, that can demonstrate that they have been making profit for the past three years and are able to pay back the soft loans,” Ms. Muleya said.
She stated that this is threatening the existence of Small businesses especially now that the country has been hit by the third wave of the pandemic.
Ms. Muleya added that the SMEs are disadvantaged because they are the ones who need the funds most because they are just entering the business fraternity.
“Most of our SMEs have not really been covered by Covid-19 funds making some of them to go out of business because of lack of funding,” she stated.