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Empower local entrepreneurs in mining sector, Sichula urges govt

Empower local entrepreneurs in mining sector, Sichula urges govt
By Fridah Zinyama and Kabanda Chulu
Friday August 03, 2007 [04:00]

ZAMBIA Chamber of Small Medium Business Associations (ZCSMBA) executive secretary Maxwell Sichula has urged the government to find ways of empowering local entrepreneurs in the mining sector saying foreign investors will leave when copper prices go down. And former Zambia Manufacturers Association (ZAM) vice-president Oswald Mwewa has said if given correct financial backing, the Citizens Economic Empowerment (CEE) Act will be implementable.

Meanwhile, in his message to the 81st Zambia Agricultural and Commercial Show which opened yesterday, President Levy Mwanawasa admitted that past economic policies had failed to address poverty levels and unequal distribution of wealth among local citizens. Commenting on the economic performance during the first half of this year, Sichula said several macro-economic indicators were moving in the right direction showing that Zambia’s economy was improving.

"The economy is going in the right direction when looking at the number of investments in key sectors such as mining, manufacturing, tourism and agriculture but the biggest challenge is that all these major developments are in foreign hands," Sichula said.

"It is not a grudge but a reality because very little is trickling down to ordinary Zambians. We want to see more local entrepreneurs getting empowered so that they stake their prowess in their own economy and foreigners should just top up and the government should find ways of doing this since you cannot rely on foreign investors when copper prices goes down."

He said Zambians were the only ones who could be able to sustain the current positive developments obtaining in the economy.

"There is no reason why we cannot sustain these achievements because local entrepreneurs have the capability to develop and drive this economy forward since all their profits will be retained locally," said Sichula.

And Mwewa said the CEE Act was a very good document but it would not help in empowering Zambians unless there was financial backing supporting it.
"As someone who was part of the committee set up to help come up with the CEE Act, I feel that government will only be able to successfully implement the Act if it avails resources to the citizens," he said.

Mwewa said availing finances to the citizens would go a long way in helping them to invest in major sectors of the economy.

"How can anyone who has good ideas contribute favourably to the economy unless they have access to finances?" he wondered.

Mwewa said one of the greatest challenges that most Zambians seeking to embark on business ventures have been experiencing was lack of adquate financing.
"If government, using the CEE Act, avails finances to the public, it will enable most citizens to embark on feasible business ventures that can contribute to sustainable economic development in the country," said Mwewa.

And President Mwanawasa said that government had an obligation to redress and remove various inequalities in the economy hence the creation of the Citizens Economic Empowerment (CEE) Act.

"The growth and development of the country cannot be attained without the participation of the citizenry. Therefore, the CEE Act is a tool for wealth creation and employment generation by integrating economically disadvantaged citizens into mainstream economy," said President Mwanawasa.

Labels: CEE, MAXWELL SICHULA, MINING, SMEs, ZCSMBA

posted by MrK @ 4:46 AM