A total of 139 Micro, Small and Medium Enterprises (MSMEs) were formalised in 2020 compared to 63 in 2019, Zambia Development Agency Board (ZDA) Board Chairperson David Musonda Masupa has said.
Speaking when he gave an account on how the Agency performed in 2020, Bishop Masupa said the Manufacturing sector had the largest number of formalised MSMEs with 53 followed by Agriculture and Services with 41 and 24 MSMEs respectively.
He said the mentioned number of formalised MSMEs represents a 122 percent increase.
And Bishop Masupa said ZDA is determined to enhance its performance through strengthened collaboration with various strategic stakeholders.
He said this is after having developed a resilient strategy of the new normal to scope with Covid 19.
Meanwhile, Bishop Masupa said the Agency is committed to the implementation of the ‘Zambia Economic Recovery Program’ (2020-23) that is anchored on the Country’s private sector led economic growth strategy.
“ZDA is also committed to the N8+1 Implementation Plan that targets Zambia’s neighbouring countries, plus South Africa, as export markets,” he said.
“The expected enactment of the ZDA, ITED, Local Content and Trade Remedies Bills as well as policies such as the MSME Policy will strengthen the Agency’s institutional framework and enhance its responsiveness to the development needs of the Country,” he stated.