SME Receives K2.1 Billion

A small enterprise dealing in the production of hardware for the construction industry has qualified to receive K2.1 billion from the Citizen Economic Empowerment Commission (CEEC) with the help of the Zambia Development Agency’s Medium and Small Enterprise (MSE) Division on how to come up with a viable business proposal and apply for the funds for the expansion of its business.

Kechas General Dealer (KGD) based in Kabwe, qualified to receive the funds from CEEC at the end of Match after consulting the SME Division at Zambia Development Agency (ZDA) on how to meet the CEEC requirements for the acquisition of the empowerment funds. With such funds, KGD graduated from being an SME to a medium enterprise and can now apply for an investment licence from ZDA.

And KGD director, Kemmy Chande describes the funding as a full package that would bolster the operations of KGD to satisfy the vast market for the construction industry in Kabwe and the whole Northern region and beyond. “CEEC is providing KGD with machinery for the plant and raw material as well as funds for operations. It is basically a full package that will hasten KGD’s expansion projects,” Mr Chande said.

He said CEEC helped KGD acquire machinery such as fork lifters and others as well as raw materials, in order to create operational base for the enterprise. He added that the enterprise was only waiting for Zambia Electricity and Supply Company to connect appropriate power voltage to the plant as the machinery in being transported to the site.

Mr. Chande said KGD has already advertised for an initial 20 job opportunities at the plant to enable the enterprise begin operations. He said the enterprise will be mainly producing corrugated roofing sheets among other materials needed in the construction industry.

The ZDA MSE Division helps SMEs apply for the CEEC funds because most of them do not know how to write business proposals and how to apply for the empowerment funds entrusted with CEEC for disbursement.

Meanwhile, the ZDA has approved 10 certificates for SMEs worth K5.4 billion for enterprises located in various parts of the country. The investment is expected to create 53 job opportunities. The applications were from enterprises located in Eastern, Copperbelt, Western and Lusaka provinces that have invested in business activities such as trading, information, communications and telecommunication, engineering, meat processing and milling.

This indicates that SMEs are now venturing in more complicated areas of manufacturing and engineering, a development, which is as result of enabling policies put in place by Government to stimulate the growth of commerce, trade and industry.