ZAMBIA Development Agency (ZDA) Regional Entrepreneurship Development Officer Shental Siajunza has called on Small and Medium Entrepreneur (SME ) business organisations to develop interest in learning new techniques in running their businesses.
ZDA Regional Entrepreneurship Development Officer made his call at a one day workshop organised by COMESA at Kasama Lodge on Monday this week.
Mr. Siajunza said SMEs should take advantage of the workshop and advance in running their business profitably and effectively through joining relevant trade organisations.
He pointed out that by linking with relevant organisations like COMESA they could avoid paying trade taxes to councils and exorbitant border charges.
Mr. Siajunza thanked Zambia national Commercial bank for sponsoring the workshop to expose the SMEs in Kasama to modern trade techniques and enhance the development of the district.
He further praised COMESA for offering free a free training kit to SMEs in Kasama which would go a long way in enhancing smooth business operations.
Mr. Siajunza pointed out that SMEs should making joint trips when importing items abroad to cut down on costs which could result into economic growth of their businesses.
Meanwhile Zambia National Commercial Bank (ZANACO) Head Business Banking SME Manager at Head office Chibamba Lopa said his Bank is proud to sponsor SME workshop to empower local businesses in national.
Mr. Lopa said ZANACO is aiming at promoting and empowering Small and Medium Business Entrepreneurship by providing conducive business climate to it clients and achieve economic growth.
The Head Business Banking SME Manager disclosed that his bank has reduced Bank interest rate to 20 Per cent from 32 with effect from May 1 this year.
Mr. Lopa added that ZANACO is also geared in offering short tern loans, credit facilities in overdrafts and make their customers comfortable by spending shorter times at their branches national wide.
[ZANIS]
Interest rate reduced from 32 to 20%? The cost of borrowing is too high in Zambia. Which SME companies even approach banks for financing at such rates? That’s day time robbery!
This explains why multinationals use their sister companies to finance their operations in Zambia in stead of borrowing from local banks.
Very good points , totally agree