Govt to unveil credit schemes for MSMEs
Published On February 19, 2014 » 2514 Views» By Administrator Times » Business, Stories
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THE Government will soon introduce credit guarantee schemes aimed at helping Micro Small and Medium Enterprises (MSME)s to have access to loans to boost their ventures.
Ministry of Commerce Trade and Industry Deputy Minister Richwel Siamunene said the Government would release funds to some identified banks meant for loans to MSMEs.



Mr Siamunene said this after an on the  spot check on the operations of the  Makeni Small Development Enterprises Board (SEDB) in Lusaka on Tuesday.
This is according to a statement released by the ministry and made available to the Times in Lusaka yesterday.
He said it was the duty of his ministry to ensure the growth and development of MSMEs.
Mr Siamunene said the Government was in the process of strengthening commercial, trade and industrial legal framework to ensure the MSMEs in the country were protected in their operations so that they could be competitive.
He said the Government was committed to supporting the growth of MSMEs and urged Zambians to cultivate a culture of paying back the loans if credit facilities were to be sustainable.
And Makeni SEDB chairperson Joan Musonda appealed to Government to help his association receive flexible terms of payment to purchase the premises where the 30 MSMEs were operating from.
Mr Musonda expressed worry that the 30 MSMEs that were housed at the premises would be left in the cold thereby forcing about 400 employees out of employment if the association was not given an opportunity to purchase the premises.
The Makeni SEDB MSMEs are involved in activities such as engineering, carpentry, paint manufacturing, tailoring and  environmental engineering services.
Makeni SEDB got a loan from African Commercial Bank which went under and currently, the premises was under the care of the Bank of Zambia which has decide to sell the SEDB premises  to raise money to clear bills which the defunct bank had accrued.

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