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Standard Chartered Bank Zambia Invests ZMW 200,000 in SME Capacity Building

Standard Chartered Bank Zambia has reaffirmed its commitment to supporting Small and Medium-sized Enterprises (SMEs) by sponsoring ZMW 200,000 towards a capacity building training programme in Solwezi.

This initiative, conducted in collaboration with Shoprite, aims to empower local SMEs with essential skills and knowledge to foster their growth and sustainability.

The launch event of the capacity training programme in Solwezi was graced by Hon. Elias Mubanga, Minister of Small and Medium Enterprise Development, who commended Standard Chartered Bank’s proactive role in enhancing the SME sector.

Emmy Kumwenda, Head of Corporate and Investment Banking at Standard Chartered Bank, emphasized the critical role SMEs play in Zambia’s economic landscape.

Ms. Kumwenda highlighted that the bank’s investment in the SME Capacity Building Workshop reflects its dedication to equipping Zambian SMEs with the necessary tools to thrive.

She encouraged SMEs to utilize the knowledge gained to add value to their products and expand their market reach, both domestically and internationally.

Addressing the challenges faced by SMEs, such as limited access to credit, markets, and mentorship, Ms. Kumwenda noted the bank’s collaboration with Micro Finance Institutions (MFIs) to extend financial services tailored to SME needs.

She also mentioned the expansion of Standard Chartered’s Agency Banking outlets, benefiting 80 SMEs with alternative income sources and improved depositing locations.

Furthermore, Ms. Kumwenda highlighted initiatives like the Women in Tech programme, underscoring the bank’s broader commitment to fostering entrepreneurship and supporting local businesses in Zambia.

The SME capacity training programme, facilitated by a team of experts, aims to address common challenges and opportunities faced by SMEs, empowering them to navigate the competitive business environment effectively.

Standard Chartered Bank Zambia’s ongoing initiatives are poised to bolster SME growth and contribute significantly to Zambia’s economic development, aligning with national goals of fostering entrepreneurship and sustainable economic progress.

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