The United Kingdom has announced a new initiative to support 50 thousand jobs and facilitate over 2.6 Billion Kwacha of private sector investment to improve productivity in key sectors of the Zambian economy.
Visiting UK Minister for Africa, James Duddridge announced the new initiative to help drive economic growth in Zambia, through supporting high potential SMEs to access investment, innovation and improve productivity.
Mr. Duddridge made the announcement following his meeting with Finance Minister Bwalya Ng’andu in Lusaka.
The focus sectors will include agriculture, tourism, and services to the mining industry.
The Private Enterprise Programme Zambia 2 will strengthen Zambia’s reputation as a finance and investment hub for the region.
And Mr. Duddridge said growing economies, creating jobs and enhancing productivity are critical components for tackling poverty and giving the people of Zambia the tools to determine their own economic futures.
Meanwhile, Dr N’gandu said government welcomes the UK’s commitment of supporting the growth of Zambia’s private sector.
He said the new programme will benefit numerous high-potential SMEs that drive jobs within the Zambian economy as well as helping to strengthen economic ties between Zambia and the UK.
During Mr. Duddridge’s time in Zambia, he visited 260 Brands, a Zambian SME that has been supported in its growth journey to date by the UK.