BUUMBA CHIMBULU writes AN agreement to enhance the provision of affordable credit facilities and establish linkages to local and international institutions has been signed between the Zambia Development Agency (ZDA) and the Development Bank of Zambia (DBZ).
The Memorandum of Understanding (MoU) will, among others, enhance the provision of affordable credit facilities and business development services to Small and Medium Enterprises (SMEs), including start-ups and innovators.ZDA Acting Director General, Mukula Makasa, said the agreement would be used for establishment of linkages to local and international institutions providing support services to local entrepreneurs.Mr Makasa said the agreement would be used to facilitate innovative financing arrangements that met the requirements of entrepreneurs.He was speaking yesterday in Lusaka during the signing ceremony of the MoU.“This collaboration is significant and timely as it will support of growth of local enterprises and facilitate access to tailor made finance and business support services.“Development is key agenda for both institutions therefore, the importance of this partnership cannot be over emphasised. The economic growth and development of Zambia into a middle-income nation by 2030 is highly dependent on the growth of local companies,” Mr Makasa said.DBZ Managing Director, Samuel Bwalya, said his institution committed to support measures aimed at expanding export oriented value chains and strengthening backward and forward linkages for local enterprises.Dr Bwalya said the Bank’s ultimate desire was to see a transformed and internationally competitive private sector driven by the ingenuity and robust entrepreneurial spirit of local entrepreneurship.He indicated that DBZ and ZDA would work hard to expand access to affordable sources of finance for local enterprises.
“There is no doubt in my mind that DBZ resources will become more impactful, in terms of generating development benefits for the Zambian people and businesses, when deployed to projects that are supported by the ZDA,” he said.
