Minister of Finance, Margaret Mwanakatwe says the Zambia Credit Guarantee Scheme (ZCGS) is a milestone in
Governments resolve to increase access to capital among
local Micro Small Medium Enterprises (MSME).
Launching the credit scheme, Ms. Mwanakatwe equally
urged mainstream banks to increase support to Micro Small
Medium Enterprises as doing so will boost Government
desire to locally grow the Zambian economy.
During a Wednesday 12th September 2018 colourful launch
at Lusaka’s Radisson Blu Hotel, witnessed by Works and
Supply Minister, Felix Mutati, Bank of Zambia (BoZ)
Governor, Dr. Denny Kalyalya, Lusaka Mayor Miles Bwalya
Sampa and International Trade Centre (ITC) Executive
Director Arancha Gonzalez, Ms. Mwanakatwe implored ZCGS
Board Chairperson Chisha Mwanakatwe and Executive
Director Francis Musonda to empower Micro Small Medium
Enterprises.
“The launch of the Zambia Credit Guarantee Scheme is a
milestone in the histories of Zambia’s Financial Inclusion
Agenda. What we are witnessing here today is the fulfillment
of policy pronouncements made by Government during the
2017 and 2018 National Budget addresses to Parliament,” a
gracefully dressed Ms. Mwanakatwe noted, recalling that on
8th November 1017, Government launched the National
Financial Inclusion Strategy (NFIS) and the Financial Sector
Development Policy (FSDP).
Ms. Mwanakatwe explained that
the National Financial Inclusion Strategy and the Financial
Sector Development Policy documents are designed to
strengthen the development of the financial sector as
Zambia’s effort toward global targets and aspirations to
achieve Universal Financial Access (UFA) by 2022 an thus
overcoming the challenge of eradicating poverty and
increasing shared prosperity.
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