WE will continue looking at modalities aimed at growing the small and medium enterprises (SME) loan portfolio further to ensure that small businesses from across sectors can turn the wheels of the economy, Zambia National Commercial Bank (Zanaco) PLC Chief Financial Officer Kalaluka Itwi has said.
Mr. Itwi told The Scoop that Zanaco would continue to support the local SMEs as they remain the backbone of the economy.
He said that the bank was committed to ensuring financial inclusion among SMEs to enhance the creation of jobs and wealth in the country.
“It is without doubt that Zambian SMEs are hungry for growth however lack of capital to actualize that growth at times limits their expansion and that is why as a bank we are focused at ensuring that the SME sector is provided with support,” Mr. Itwi said.
He said the bank believed that a solid private sector was cardinal for employment and wealth creation.
“As Zanaco we look at building a solid private sector. Ensuring that there is adequate support for entrepreneurs and the business community to enhance wealth creation in Zambia. A vibrant and inclusive private sector is critical as it is the backbone of the economy,” he said.
Mr. Itwi said that the bank’s efforts of providing capacity building programs to the business community would continue being scaled up to enable them to adequately contribute to the economy.
He added that promoting sustainable business practices among the SMEs was also critical.
He also explained that promotion of sustainable business practices was essential for the community and preservation of the environment.