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(DAILY MAIL) LuSE urges SMEs to raise capital

LuSE urges SMEs to raise capital
BY NANCY MWAPE

THE Lusaka Stock Exchange (LuSE) say there is still hope for Zambian companies especially the Small and Medium Enterprises (SMEs) to raise funds on the capital market despite the credit crunch.

LuSE general manager, Beatrice Nkanza said this in Lusaka at the first Finance, Banking and Insurance Services (FINBIS) Expo 2009 meeting organised by SS Media.

The Expo is expected to be held at Mulungushi International Conference Centre in Lusaka next month under the theme: Partnership for Wealth Creation and Protection.

Mrs Nkanza said SMEs could raise funds on the capital market through the stock exchange’s third market tier.
She said LuSE was currently sensitising the public on the benefits and how companies could apply for listing on the third tier.

She said the LuSE all Index had dropped from 4,000 points last year to 3,000 points due to the financial crisis that has hit the global economy, Zambia inclusive.

At the same function, SS Media director, Shem Simuyemba, said the objective of the expo was to provide a platform for companies to showcase their products and services to existing and potential clients.

Mr Simuyemba said the expo would be a unique marketing window to showcase the depth and diversity of the Zambian FINBIS sector.

“Zambian public particularly, SMEs do not have a good understanding of the range and diversity of services on offer from customer to the business financial services, leasing to trade finance, microfinance to personal loans, government bonds to stocks markets,” he said.

He said the pension and insurance industry was one of the least understood sectors in the country adding that both businesses and individuals needed to be sensitised to take advantage of many existing products and services to deepen the sector.

“It is by understanding the range, diversity and depth that true partnership for wealth creation and protection can be built, generate increased business and growth for the FINBIS sector,” he said.
Mr Simuyemba said the expo was open to all companies and institutions in the FINBIS sector.

SS Media Group Limited has partnered with LuSE, Bank of Zambia and Pension Insurance Authority to promote the expo scheduled for April 3 to 4, 2009.

Labels: BEATRICE NKANZA, LUSE, MULUNGUSHI INTERNATIONAL CONFERENCE CENTER, SMEs

posted by MrK @ 10:38 AM