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NASME engages SADC and COMESA to revamp small businesses

Written by  Chimwemwe Mangazi Dec 27, 2013

Representatives of the National Association of Small and Medium enterprises- NASME have sought the financial assistance of regional economic groups, following the country’s declining economy.

The regional groups that have been approached are SADC and COMESA.

Speaking to Capital fm, NASME National Coordinator William Mwale says talks are at an advanced stage for the two regional blocks to provide soft loans to the country’s small business players.

This comes as 15 percent of SMEs in the country have closed their businesses since the start of the lean period.

“We approached SADC to intervene on the situation and they are responding positively and for COMESA they are proposing that small scale business operators should establish a Bank that will be providing them with soft loans” Said Mwale.

Mwale however says the initiative will be of essence if the government could ensure that citizens have the buying power.

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