LUSAKA, Sept. 14 — The Zambian government on Thursday launched a credit guarantee scheme aimed at helping micro, small and medium-sized enterprises.
The scheme is a fund established by the government aimed at according the small businesses to have stability and propel them to higher levels of growth and competitiveness, the government said.
Minister of Finance Margaret Mwanakatwe said during the launch that the scheme is meant to enhance access to affordable financing to small businesses by mitigating risks that have been a source of concern to traditional financial institutions.
According to her, high interest rates from commercial banks have continued to hamper the growth of small businesses in the country.
She further pledged government’s commitment to the sustainability of the scheme.