The world MSME day was for the first time commemorated in Zambia, themed Charting a New Course: Unleashing the potential of Zambia’s MSMEs towards the attainment of the 2030 SDGs, with different organization in attendance to support this event. The United Nations General Assembly designated June 27 as the “Micro Small and Medium-sized Enterprises day” to raise awareness of the tremendous contributions of such enterprises to the achievement of the 2030 Agenda and the Sustainable Development Goals (SDGs). The MSME day 2023 marks the 6th anniversary of this General Assembly resolution.
The event which was held at Radisson Blu hotel on the 27th June 2023, marked the first ever commemoration of world MSME day in Zambia, it was hosted by Global Council for the Promotion of International Trade (GCPIT). GCPIT is an organization based out of India, South Africa, USA, UAE, EU, and the United Kingdom with board and council member representation across the world and now Zambia. It’s local director general, Carol Hachandi Lupiya who also serves as advisory member for Youth Up Global spoke during the event, she said, their main objective for the event was to amplify MSME support Ecosystem awareness in Zambia and solicit MSME supplier development and supply chain inclusion. She said GCPIT also facilitate collaboration with NGOs and government sectors. In Zambia MSMEs represent 97% of businesses and 88%, and this stands as a testament to the importance of MSMEs in the Zambian Economy. She further highlighted some key challenges faced by MSMEs such as limited access to funding, market and inhibiting trading licenses. GCPIT has also partnered with Tusumpule business consultancy to launch a program called “1K MSME Launchpad” targeted is to incorporate 3000 SMEs over the next 3-years through the program, to this end they are calling upon government, private sector and other related sectors to provide support to this endeavor. GCPIT will recognize the most supportive contributors to MSMEs through this program.
KPMG senior partner and CEO Mr. Jason Kazilimani Jr, one of the events main sponsors said, “this day holds significance as we celebrate the indomitable spirit and invaluable contributions of the Micro Small and Medium Enterprises to our national economy”. He said during his speech at the event affirming KPMGs dedication to championing of MSMEs. He added that KPMG believes that these enterprises are crucial to unlocking economic potential and fostering inclusive growth. “We are committed to collaborating with government, industry bodies, and NPOs to promote inclusive great and equitable support for MSMEs to ensure no business is left behind”, he said. He added that as they expand in this market, they are committed to knowledge sharing, capacity building, and creating an enabling environment for MSME growth. He also highlighted critical issues about the sustainable growth of MSMEs, as an accounting, tax and auditing firm, KPMG recognizes the importance of these services to empower MSMEs. He addressed the importance of financial and accounting expertise, Compliance and regulatory support, which he said is pivotal in the sustainable development of MSMEs and additionally, the significance of audit and assurance services which he said should be noticed. He also noted that another essential function for sustainable MSME growth is tax planning and advisory services. He said optimizing tax positions and managing tax risks effectively can significantly impact the financial well-being of MSMEs. Lastly he said technology and digital transformation are transformative forces that benefit MSMEs. He emphasized that KPMG is committed to providing tailored support and expertise in the areas, recognizing the importance of these functions for MSMEs, by embracing and implementing these essential practices, MSMEs can navigate challenges, seize opportunities and contribute to sustainable economic growth.
Also in attendance to grace the ceremony as guest of honor was mister of Small and Medium Enterprises (SMEs), Mr Elias Mubanga. The minister said it’s was a great day for everyone and himself inclusive, because without the presence of MSMEs the economy lacks life. These are extremely important and it is no wonder the UN set aside this day 27th June to commemorate its importance. He said he was extremely encouraged to attend the event, he commended the global council for the Promotion of international trade in partnering with Tusumpule and for promoting growth for MSMEs and the government for recognizing the important contribution of MSMEs to economic growth. MSMEs account for 90% of businesses and 60-70% employment globally, he added. The new Dawn government places great importance to the MSME as they are key drivers for economic growth and employment, government he said, also recognizes the challenges faced by MSMEs, the major being market and information access. But through this initiative such challenges shall be addressed. The government encourages MSMEs to use these initiatives to tackle some of these challenges. He also spoke briefly on debt restructuring emphasizing how this will be explained to even the most remote parts of the country for all citizens to understand what it means for Zambia. He further said government is putting up many initiatives in place to support MSME growth. In closing he officially marked that 27th June shall be celebrated every year as world MSME Day in Zambia going forward.