Locally generated partnerships to boost investment hub – Woolley

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BUUMBA CHIMBULU writes
@SunZambian

LOCALLY generated partnerships will drive Zambia into becoming a stronger financial and investment hub for the Sub-Saharan region, says British High Commissioner, Nicolas Woolley.
Mr Woolley said this would bring more jobs in Zambia, experts, finance and opportunities that would benefit everyone involved through the job creation chain.
He stressed that collectively building these kind of relationships locally was what would help Zambia to become a stronger financial and investment hub for the whole region.
He was speaking this week during the signing of a Memorandum of Understanding to support growth of local enterprises through enhanced collaboration has been signed between the Development Bank of Zambia and Prospero Zambia, a United Kingdom funded organisation.
“It is encouraging to see this kind of collaboration between two Zambian based entities as well.
“This strategic partnership is key steps towards developing a more vibrant Small and Medium Size Enterprises investment climate that will see the Zambian businesses accessing finance and utilising growth,” Mr Woolley said.
He said fostering economic growth in all its forms was a central component of the United Kingdom-Zambia partnership.
Mr Woolley said supporting small and medium enterprises that drove job creation in Zambian.
Such support, he said, build strong economies between both the United Kingdom and Zambia, which was the absolute mission of the UK in the country.
“Improving access to finance to businesses of all shapes and sizes is an absolute critical part of building Zambia economy in developing and fostering that shared mutual partnership between the two nations,” Mr Woolley said.
Prospero Zambia Chief Executive Officer, James Blewett, said his organisation was working to transform the finance and investments environment for MSMEs in Zambia, helping companies take promising business idea to scale and become engines for job creation.
Mr Blewett said one of Prospero’s objectives was to strengthen the finance and investment environment for SMEs in Zambia.
“The cost and inaccessibility of finance makes it difficult for SMEs to get the capital required for expansion,” he said.

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