Ministry of SME Development and Zambia Cotton Board Collaborate to Revitalize Cotton Industry
The Ministry of Small and Medium Enterprise (SME) Development and the Zambia Cotton Board convened a crucial meeting to discuss strategies aimed at rejuvenating the sector.
During the meeting, which brought together key stakeholders from both entities, the Cotton Board of Zambia presented its comprehensive plan to breathe new life into the cotton industry.
Emphasizing the industry’s vast potential, the board outlined its vision to create employment opportunities for over 2.5 million people across the country.
Central to the proposed plan is the establishment of cooperatives tasked with both cultivating and processing cotton. This integrated approach is poised to enhance the value chain and amplify the industry’s impact on the economy.
With cotton cultivation already underway in 28 districts spanning Eastern, Central, Southern, and Lusaka Provinces, the Cotton Board underscored the need to expand and support existing farmers.
To facilitate this expansion, the board requested assistance from the Ministry of SME Development in providing loans to farmers and cooperatives, enabling them to scale up cotton production.
In response, Hon. Elias Mubanga, Minister of SME Development, reaffirmed the government’s unwavering support for the agriculture sector.
Minister Mubanga revealed that the Ministry has taken concrete steps to fund such ventures, citing existing partnerships with financial institutions through signed memoranda of understanding.
These collaborations open doors for potential funding opportunities for cotton farmers and cooperatives, furthering the government’s commitment to fostering agricultural development.
