By MAIMBOLWA MULIKELELA? –
THE United Kingdom’s Department for International Development (DFID) has launched a £14 million Private Enterprise Programme-Zambia (PEP-Z) for private sector capacity growth in an effort to increase jobs in the country.
Commerce, Trade and Industry Minister Bob Sichinga said during the launch in Lusaka that Zambia needed to nurture the entrepreneurial spirit as it was the backbone of national development.
Mr Sichinga said Zambia, with a growing population of entrepreneurs that could add value to expanding the economy it was commendable for the DFID to have launched the PEP-Z.
He said the PEP-Z would provide entrepreneurs fresh opportunities to improve performance of their businesses.
“Zambia is a nation of entrepreneurs. We have enthusiastic, enterprising men and women across the country that are eager to grow their businesses, employ more people and contribute to driving the economy forward. We need to nurture that entrepreneurial spirit, because it forms the backbone of our economy,” he said.
The UK’s DFID Permanent Secretary Mark Lowcock said the PEP-Z targeted the development of Zambia’s private sector in the area of job creation and prosperity.
Mr Lowcock said this included contributing to the creation of more than 40,000 full time jobs while £30 million would be invested in the growth of Micro Small and Medium Enterprises (MSMEs).
He called on entrepreneurs to take advantage of the opportunities offered by PEP-Z urging them to explore ways to grow their businesses into a new generation of companies that could compete at local, regional and international levels.
Mr Lowcock urged business leaders to embrace the products and services offered by local entrepreneurs.
DFID’s new five-year PEP-Z aims to help entrepreneurs in Zambia to fast-track early stage business ventures and under the programme, entrepreneurs would benefit from expert support to develop professional business plans to grow their businesses and access funding.