The Ministry of Small and Medium Enterprises Development (MSME) and MTN Zambia Limited have officially signed a Memorandum of Understanding (MoU), marking the commencement of a new era of collaboration and partnership.
During the ceremony Hon. Eng. Elias Mubanga, MP, Minister of Small and Medium Enterprises Development, highlighted the importance of the partnership, emphasizing that the collaboration with MTN Zambia Limited would play a pivotal role in shaping the future of the nation’s MSMEs.
He stated that the MoU signifies a shared vision and a common understanding of the significant role that small and medium-sized enterprises play in Zambia’s socio-economic fabric.
At the same event, Mr. Abbad Reda, Chief Executive Officer of MTN Zambia Limited, expressed gratitude to the government of Zambia for its commitment to supporting small and medium enterprises.
He underscored the potential for extensive economic, social, research, trade, and business development within the MSME sector.
Mr. Reda stated that this partnership marks a significant milestone in fostering mutual cooperation between MTN Zambia and the government, recognizing the vast potential for economic, social, research, trade, and business development in the MSME sector.
Through the MoU, he explained that both the Ministry and MTN Zambia aim to connect markets, encourage trade and investment, and provide training and skill development for MSMEs in crucial sectors such as industry, agriculture, agro-processing, infrastructure development, tourism, and energy.
Mr. Reda further highlighted MTN Zambia’s commitment to supporting MSMEs by launching a range of services and products designed to empower them in today’s digital age. These include MTN Business, a dedicated department offering customized solutions, the Y’ello Biz App, a comprehensive business directory, and MoMo Pay, a mobile money platform facilitating quick and convenient payments for MSMEs.
He also mentioned that the collaborative efforts outlined in the MoU are expected to unlock the untapped potential of the Zambian MSME sector, fostering entrepreneurship, growth, and inclusive development.
Mr. Reda disclosed that the partnership aims not only to create economic opportunities but also to strengthen relations between the public and private sectors for the overall prosperity of Zambia.
The Ministry of Small and Medium Enterprises Development and MTN Zambia expressed confidence that this MoU would significantly impact the Zambian MSME landscape, providing tangible benefits to local businesses.
Mr. Reda said that the collaboration is poised to be a catalyst for positive change, driving innovation, creating employment opportunities, and contributing to Zambia’s overall economic prosperity.
As both entities embark on this journey together, the collaborative efforts are anticipated to make a lasting impact on the MSME sector, contributing to the overall growth and prosperity of Zambia.
The partnership signals a promising step towards harnessing the transformative power within the MSME sector, aligning with the global trends of digital empowerment and economic inclusivity.