By Sula Mavuya
Economists have urged the government to formulate a comprehensive strategic plan to support Small and Medium Enterprises (SMEs), following a proposed K35 million allocation from the 2025 supplementary budget.
Economist Yusuf Dodia said the funding should go beyond handouts and address critical areas such as access to machinery, financial literacy, marketing, skills training, and raw materials.
“Government needs to identify the specific machinery SMEs require to operate efficiently and profitably,” Dodia said in an interview.
The call for strategic action follows Minister of Small and Medium Enterprises Elias Mubanga’s announcement that his ministry is proposing a K35 million budget to support SME development under the K33.6 billion supplementary national budget for 2025.
Economist Kelvin Chisanga welcomed the move, describing it as timely in the face of economic pressure stalling SME growth.
Chisanga, however, cautioned against reactive funding approaches, calling instead for long-term empowerment strategies that foster sustainability and reduce dependency.
The economists agreed that SMEs can only become a strong pillar of the economy if properly equipped and supported with the right tools and knowledge.
