The government has signed a $ 15 million deal with United Arab Emirates KHALIFA Fund for a grant aimed at supporting the development of Small and Medium Enterprises SMEs in the Country.
Special Assistant to the President for Finance and Investment Jito Kayumba disclosed that the grant is one of the positive outcomes of the President’s recent visit to the United Arab Emirates (|UAE) and will be managed by the Ministry of Small and Medium Enterprises.
“We additionally signed an investment deal of about $15million with the UAE for the support to SMEs in the country. This fund is not a loan but a grant and it will be managed through the Ministry of Small and Medium Enterprises,” he said.
Speaking during a joint press briefing with Presidential Spokesperson Anthony Bwalya at State House, Mr. Kayumba added that the landmark $ two Billion energy deal that was signed with ZESCO will not only benefit the energy sectors but other sectors as well and will create more jobs and business opportunities for local suppliers and other businesses
Mr Kayumba has urged Zambians to position themselves properly in order to fully benefit from the investments and contribute to the country’s economic growth.
And Presidential Spokesperson Anthony Bwalya stressed that government is committed to find a lasting solution to the challenges faced in the energy sector and described the $2 Billion energy MoU as a direct result of President Hakainde Hichilema’s leadership and commitment.
Mr Bwalya added that the MoU will stabilize the energy sector by stabilizing power supply and creating jobs for the citizens.
“The President and team immediately set out to sort out the problem of load shedding and find a lasting solution to the problem. As you are aware we signed the largest energy MoU on energy. This is a direct result of the President’s leadership,” he said
He further added that Zambia will, together with South Africa and Senegal, boost food security for the continent through the production and supply of grains, a move that has partly been necessitated by the war in Russia and Ukraine.
Mr Bwalya said the move will create more jobs and opportunities in the agricultural sector and increase forex for the country.