The Zambian Minister of Commerce Trade and Industry, Honourable Margaret D. Mwanakatwe MP, has officially launched the first round of ‘Nyamuka Zambia’, a business plan competition at a forum in the Radisson Blu Hotel, Lusaka.

The competition, according to a report by UK Zambia, is an initiative by the Private Enterprise Programme (PEP-Z), designed to stimulate Micro, Small and Medium Enterprises (MSMEs) investment in Zambia and enhance investment flows outside traditional payment channels by supporting entrepreneurial activity. There’s an incentive of 250,000 Kwacha ($32,300).

“Micro, Small and Medium Enterprises are important for job creation as two-thirds of all new jobs are generated by businesses in their first five years of existence. A high rate of entrepreneurship is a sign of a healthy economy and more start-ups and a thriving entrepreneurial culture will lead to more jobs being created in Zambia. Through Nyamuka, let’s empower entrepreneurs to create start-ups that can transform this great nation,” Nyamuka Zambia Manager, Mr. Shalin Jethi shed more light on the import of MSMEs in job creation and promoting sustainable economic growth.

The initiative is jointly supported by UK’s Government Department for International Development (DFID) and ZANACO Plc. The programme, additionally, hopes to promote the establishment and development of new innovative businesses among Zambia’s entrepreneurs as well as creating an avenue for business advancement.

The minister, who was represented by her deputy Hon. Miles Sampa, beseeched the organizers to: “please ensure that the models you apply and operationalize, can indeed be scaled up and replicated across the country. As you embark on this initiative, it is important that you keep in mind the added value of learning from experiences of our own and from other countries so that the solutions you identify and practices you adopt are robust and sustainable in our own context”.

Applications period is between March 17 and May 5 2015. Potential candidates can should visit the event website for more information. Those who apply will be offered free business clinics and essential workshops to help streamline their ideas and also get help with the completion of their forms.

Lastly, there’s a provision for those applicants who may need help regarding questions and (or) clarifications, such request(s) should be filled and submitted via this email ad info@nyamukazambia or printed and hand delivered.

Featured Image: Nyamuka Zambia

Olumuyiwa Coker Author

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