Zambia’s Ambassador to Germany, Anthony Mukwita says the country needs more local entrepreneurs in order to expand the indigenous private sector and expand the economy.
Mr Mukwita said the more local players to oil the Zambian economic machinery the better for us.
He said with an increase in the number of local entrepreneurs, the banking sector will see more savings and more liquidity available in the economy for further investment.
The Zambian envoy made the remarks when he met Mr Stefan Henkelmann and Markus Tacke of the German Association of Savings Banks known locally as the Sparkassenstiftung.
Mr Henkelmann is responsible for the Africa region while Mr Tacke is expected to arrive in Zambia on the 16th of March to take his new position as the regional director responsible for the organization’s projects in Zambia, Malawi and Namibia.
To encourage local entrepreneurship, the Lungu government has reformed the Citizen Economic Empowerment Commission, CEEC, which makes available to citizens loans to support local business ventures across a variety of sectors.
In addition, government continues to expand skills training centers and trade schools around the country to facilitate the development of local entrepreneurship.
Recently, government announced yet another initiative intended to encourage the growth of local entrepreneurship when it announced that 30% of contracts given for infrastructure development shall be offered to local people.
The organization’s decision to establish its regional headquarters in Zambia is a show of confidence of the stability of Zambia as a business base said Ambassador Mukwita.