Skills Development Key to Zambia’s Circular Economy Goals
In a drive toward fostering sustainable economic growth, experts are urging Zambia to harness skills development within its Small and Medium Enterprises (SME) sector. Economic expert Kelvin Chisanga highlights that skills development can significantly boost Zambia’s circular economy.
This call comes as Zambian authorities consider introducing a skills development levy to support these initiatives.
Mr. Chisanga emphasizes the importance of aligning education with industry demands, stating, “We must adapt our education systems to better prepare our workforce with relevant skills that match industrial needs.”
This alignment is reflected in Zambia’s upcoming 2024 fiscal budget, which includes funds allocated to expand curriculum development. The budget aims to incorporate skills training programs to better equip graduates for the job market and support entrepreneurial growth.
Zambia’s high demand for entrepreneurship, however, faces challenges due to limited capital formation and inadequate coordination of intervention strategies. “While there is a strong appetite for entrepreneurship, a lack of capital and coordinated support measures hampers growth,” says Mr. Chisanga.
He also notes the critical need for both long-term and short-term SME solutions, particularly in capacity-building programs that can strengthen the workforce and economy.
On a positive note, recent investments in Zambia’s education sector have generated substantial employment opportunities. The government’s increased budget allocations have facilitated the recruitment of teaching staff, providing the education sector with much-needed resources.
Mr. Chisanga acknowledges this progress but stresses the importance of introducing business and investment-centered courses to foster a more entrepreneurially skilled workforce.
“By enhancing business-oriented training, Zambia can open up avenues for sustainable economic development,” he concludes.
