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(TIMES) State committed to SMEs’ productivity

State committed to SMEs’ productivity
By Times Reporter

THE Government will address the needs of small and medium enterprises (SMEs) and enhance their productivity,Vice-President George Kunda (right) has said.

Mr Kunda said in Lusaka yesterday that the Government would continue allocating resources to relevant entities for SMEs’ empowerment in order to increase their contribution to the country’s gross domestic product (GDP).

Mr Kunda said this when he opened the Third Association of Chartered Certified Accountants (ACCA)/Zambia Chamber of Small and Medium Business Association (ZCSMBA) SME conference.

He said because of the great importance the Government attached to SMEs, it established the Zambia Development Agency and the Citizens’ Economic Empowerment Commission to stimulate economic growth.

“Government will continue to allocate resources to these entities so that our people can be empowered more and realise their aspirations in their quest to grow their business and contribute to higher GDP.

“In addition, Government is currently reviewing policy frameworks to ensure that they address the current needs of the SME sector,” he said.

Mr Kunda called for innovation among the business community in order to cope with the demands of the current economic trends.

He said that the Government was committed to developing policies and institutional frameworks which would contribute to a conducive environment for growth and transfer of ownership in line with international standards.

He emphasised the need for the business community to engage in e-business and keep up with the new technological era in which digital facilities were actively in use.

Earlier, Commerce Trade and Industry Minister, Felix Mutati challenged the SMEs to take advantage of the opportunities the Government was creating.

ACCA deputy president, Brendan Murtagh said his association would continue supporting the Zambian SMEs to ensure growth.

Mr Murtagh said the SMEs needed to fully understand accounting regulations, hence the conference which has now become an annual event facilitated by the ACCA.

In his vote of thanks, ZACSMBA executive secretary, Maxwell Sichula hailed the Government for ensuring the smooth growth of the SMEs in the country.

Labels: ACCA, BRENDAN MURTAGH, FELIX MUTATI, GEORGE KUNDA, SMEs, ZCSMBA

posted by MrK @ 5:43 PM