Q FM Africa's Modern Radio
Commerce, Trade and Industry Minister Margaret Mwanakatwe
Government has reiterated that it is only through innovation that true entrepreneurship spirit will be ignited among small and medium enterprises (SMEs) in Zambia and ultimately boost economic growth and development.
Speaking at the 8th joint Zambia Chamber of Small and Medium Enterprises (ZCSMBA) and ACCA SME conference in Lusaka this morning, Commerce, trade and industry Minister Margaret Mwanakatwe says government is aware that the development of SMEs is one of the sustainable ways of reducing the levels of poverty and improving the quality of life for the citizens.
Ms Mwanakatwe says the contribution of the SME sector to employment, economic growth and sustainable development is acknowledged, adding that she is convinced that SMEs deepen the manufacturing sector, foster competitiveness and help in achieving a more equitable distribution of the benefits of economic growth and thereby help in alleviating some of the problems associated with uneven income distribution.
She further states that government will continue to collaborate with all stakeholders across all sectors and will continue working closely with accounting bodies to enhance financial management skills among SMEs.
The Minister said this in a speech read on her behalf by ministry of Commerce Director for trade John Mulongoti.
And speaking earlier, ACCA SME committee Chairperson Hastings Mtine says SMEs play a vital role in generating national wealth across all regions.
And ZCSMBA Board Chairman George Banda says SMEs have continued to play a role of being the engine for economic growth in the country.