03/06/2025
Govt Eyes K30 Billion SME Support Platform — Kayumba
By Mwiya Mwiya
LUSAKA — Special Assistant to the President for Economic Affairs, Jito Kayumba, says the government is actively working on a platform that will enable Small and Medium Enterprises (SMEs) to access much-needed financing, with an estimated funding need of about K30 billion.
Speaking during the 2025 Impact Capital Africa (ICA) Conference held in Lusaka, Mr. Kayumba emphasized government’s commitment to supporting the growth of SMEs, which he described as a critical sector for Zambia’s economic transformation.
“We are building a platform to facilitate access to funding for SMEs. Government is mobilising around K30 billion to support this effort, and we are working closely with partners like ABSA Bank to make this a reality,” he said.
He added that the government recognises the strategic importance of SMEs in job creation and economic diversification, and is therefore prioritizing their access to affordable capital.
At the same event, ICA Representative Jeffrey Scheidegger acknowledged the difficult operating environment for Zambian SMEs, noting challenges such as climate-related shocks and energy deficits.
“SMEs in Zambia are dealing with major external challenges like drought and erratic power supply. These are real pressures on their bottom line,” said Mr. Scheidegger. “But in many ways, these conditions also show the resilience and ingenuity of our entrepreneurs.”
He further disclosed that the growing interest from investors was a sign of confidence in Zambia’s SME ecosystem.
“This year’s ICA event has brought together over 75 funders. In the last three years alone, businesses that pitched at ICA events have raised more than US$100 million for operations in Zambia,” he revealed.
Meanwhile, the United Kingdom’s High Commissioner to Zambia, Rabecca Terzeon, underscored the persistent barriers SMEs face in accessing capital and market opportunities.
“Access to finance and market linkages remain some of the biggest hurdles for Zambian SMEs,” said Ms. Terzeon. “That’s why the UK government is providing technical support through the Zambia Investment Support Programme.”
She noted that the initiative will focus particularly on underserved segments of the SME sector.
“Our areas of focus include women-owned businesses and Black-led enterprises, especially in rural areas and agricultural value chains,” she said.
The 2025 ICA event continues to position itself as a major convening platform for impact investors, policymakers, and local enterprises seeking growth partnerships in Zambia’s evolving business environment.
