Prospero Zambia, ZCGS Partner to Boost SME Financing and Drive Economic Growth
On the eve of Zambia’s 61st Independence Day, Prospero Zambia and the Zambia Credit Guarantee Scheme (ZCGS) have signed a landmark Memorandum of Understanding (MoU) aimed at expanding access to finance and strengthening the capacity of small and medium enterprises (SMEs) across the country.
The partnership represents a strategic alignment between financial innovation and enterprise support, designed to bridge the persistent gap between business development and credit access. By combining ZCGS’s credit guarantee instruments with Prospero’s enterprise capacity-building initiatives, such as the Nyamuka Business Growth and Supplier Development Programmes, the collaboration seeks to establish a more sustainable and inclusive financing ecosystem for local entrepreneurs.
Speaking at the signing ceremony, Prospero Zambia CEO Mutumboi Mundia said the timing of the agreement symbolised a renewed commitment to economic empowerment.
“Signing this MoU on the eve of Independence Day is a statement of intent — a commitment to Zambia’s economic freedom. Prospero is resolute in its mission to support enterprises that power national growth. Through partnerships like this, we’re turning ambition into action,” she said.
The partnership comes at a time when many SMEs continue to face barriers to affordable credit due to high lending risks and limited collateral. It will directly address these challenges by de-risking SME lending while strengthening business capacity, enabling local enterprises to access growth capital more confidently.
ZCGS Acting CEO Albert Chivweta described the partnership as a vital step in creating a stronger and more responsive financial environment.
“Together with Prospero, we are unlocking new opportunities for Zambia’s productive sectors by improving access to capital and building the capacity of SMEs to grow sustainably,” he said.
Aligned with Zambia’s 8th National Development Plan (8NDP) and Public-Private Partnership (PPP) agenda, the initiative supports the country’s broader goals of private sector–led growth, industrial diversification, and inclusive economic participation.
