Lusaka City Market: All time trading centre
Published On July 21, 2015 » 4040 Views» By Administrator Times » Business, Columns
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SMEs cornerTHE Lusaka City Market is one of the largest modern markets the Government of Zambia has constructed in recent times.
City Market, as it is popularly known, is situated at the far end of Lusaka town sandwiched between the road going to Kanyama Township and the other one heading to Mumbwa.
The market, which is managed by Lusaka City Council (LCC) has around 4,000 stalls and is home to several bus stations leading to several townships in Lusaka.
The 4000 stalls inside the market accommodates market traders running several small businesses  ranging from stationery, groceries, tailoring to small printing companies, secretarial services, meat processing and clothes selling.
Others sell of various food stuffs like meat and fish while others sell electronic gadgets such as televisions, radios and computers.
A visit to this modern market shows that it is one of the busiest market places for human traffic congestions coming in and going out from morning to sunset.
The market, which is demarcated in sections and is named after colours such as dark yellow, blue, purple and green supports several business entrepreneurs some of who have benefited greatly from it.
Interviewing one of the managers at the market managing the market occurred to me that the place is an entrepreneurial centre and most of the entrepreneurs have benefitted greatly from this market.
He gave an example where those with tailoring businesses have combined efforts and secured big orders from schools to knit school uniforms.
Some of the leading micro finance institutions have designed loans to help marketeers to obtain loans to boost their businesses.
One microfinance entity which has tailored loans suitable for marketeers gives out as low as k1000.00 and has pegged households goods as collateral in case of defaulting on payments.
The manager also informed me that one major help they render to traders is to recommend those who intend to open business accounts to big banks.
The market has a combination of unregistered and registered businesses and those who have registered their businesses told me that they are also trying to be law abiding citizens by being tax compliance by ensuring that they pay taxes such as turnover taxes (TOT).
Others informed me that given enough sensitusation lessons by Zambia Revenue Authority (ZRA) they can contribute taxes as long as they are not  excessive as this could be seen as contributing to the well being of the country.
The 4,000 stalls which are levied at K3 each per day by the council has brought together several small businesses and in this way the Government has managed to offer alternative solution to unemployment.
The market which could be seen as supporting not less than 20,000 family members averaged at five members for 4000 households is seen as an example of alleviating poverty among the people especially in Lusaka.
The establishment of the market has seen some marketeers scoring some economic success by building personal houses, owning cars raising children and taking them to good schools.
Some traders have performed their businesses at the market for more than 15 years.
Pastor David Siame who runs a cosmetic stand and runs a church has managed to educate his children out of the business  and two of his daughters have since completed secondary school education and are waiting to go for tertiary education.
The market is, however, not without challenges.
The major challenge alluded to by the manager is the competition offered by street vendors in town and surrounding arrears.
He told me that ever since the street vendors were allowed to occupy streets in town the business inside the market has faced stiff competition such that it has been difficult for the council to adjust levies upwards.
The general view of the traders inside the market is that it could be unfair for them to be paying higher levies when street vendors pay nothing.
He informed me that to counter such kind of competition offered by street vendors some marketeers have since devised a plan where they have extended their businesses to streets as well.
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