Financial Literacy Key for SME Success – MUBANGA

By White Luhanga

Government says it will only disburse empowerment funds to Small and Medium Enterprises -SMEs- and cooperatives that have undertaken business skills training.

Speaking on the sidelines of Finland Business week, Small and Medium Enterprise Development Minister ELIAS MUBANGA said most SMEs and Cooperatives fail to sustain their businesses once funded which deters development.

Mr. MUBANGA said entrepreneurs and SME’s need to be financially literate to sustain their businesses which usually fail due to lack of business knowledge.

Meanwhile, Mr. MUBANGA praised Finland for the Finland Business week which he said mainly focused on Green energy, mining, water development and transport.

And Finnish Ambassador to Zambia SAANA HALINEN said the Finland Business week is important as it will make Finnish companies to explore business opportunities in Zambia.