By JUDITH NAMUTOWE –
MORE than 1,000 Small Medium Enterprises (SMEs) have registered their business ideas in the Nyamuka-Zambia business plan competition.
The ZANACO-sponsored Nyamuka Zambia is one of four components under the Private Enterprise Programme Zambia (PEPZ), funded by the United Kingdom’s Department for International Development (DFID).
Nyamuka-Zambia manager Shalin Jethi said in a statement in Lusaka yesterday that the 1,000 SMEs had submitted more than 400 formal business applications.
Applications for the competition were launched on March 17, this year and backed entrepreneurs and SMEs with a series of workshops and clinics in Lusaka and the Copperbelt that helped them develop a bankable business plan to grow their businesses.
“We have had some cracking good applications and I am also amazed at the enterprise of people to come from far away.
This clearly shows the entrepreneurial spirit of people in Zambia and particularly on the Copperbelt, we have had loads of people apply,” Mr Jethi said.
Candidates stood a chance of winning a K250, 000 top prize with 19 other business people up for other prizes, as well as support to bring their ideas to life.
Potential business people from all walks of life submitted their ideas, which ranged from renewable energy and waste management to jewel making, food processing and packaging to a range of innovative consumer services.
The closing date saw a flood of entries, enabling the promoters to far exceed their original targets for the initiative.