By News Desk 
By Elias Mwenda
Special Assistant to the President for Economic and Development Affairs says government is creating a supply development pogramme for Small and Medium Enterprises (SMEs) in the country.
Speaking at the 2025 Impact Capital Africa (ICA) Conference, Jito Kayumba reiterated that government needs about K30 billion to support SMEs in the country.
Mr. Kayumba stated that government is actively working on establishing a platform where SMEs can access funds to finance their businesses.
“Government is collaborating with partners such as ABSA bank for financial assistance to small and medium businesses,” Mr. Kayumba stated.
Speaking at the same event, UK’s High Commissioner to Zambia Rabecca Terzeon said access to capital and market are a challenge for a lot of SMEs in Zambia.
Ms. Terzeon stated that the UK is offering technical support for smallholder farmers through Zambia Investment Support Programme which will focus more on underserved areas of SMEs.
“The areas of focus under this initiative will be womrn-earned businesses and black owned and led businesses among others,” she said.
Meanwhile, ICA Representative Jeffrey Scheidegger noted that Zambian SMEs have to deal with a lot of external challenges like drought and power supply.
Mr. Scheidegger stated that though these challenges are impacting the bottom line in the short term, they also allow the resilience of these SMEs.
“This year’s ICA event has over 75 funders, which shows increased investor interest.”
“The businesses that pitched at the last three events raised over US$100 million into Zambia,” Mr. Scheidegger stated.
With over $175 million in capital mobilized to date, the ICA Conference has become a critical catalyst for SME development, foreign investment, and national innovation.
Cecilia Chiluba