The Zambian Government has signed a pact grant worth $15 million US dollars with the Khalifa Fund in the United Arab Emirates which is aimed at supporting the development of Zambian’s Small and Medium Enterprises (SMEs).

As disclosed by the Special Assistant to the President for Finance and Investment, Jiti Kayumba, the grant is one of the positive results of the President’s current visit to the United Arab Emirates, which will be overseen by the Ministry of Small and Medium Enterprises.

In his words, he said, “we additionally signed an investment deal of about $15 million with the UAE for the support to SMEs in the country, this fund is not a loan but a grant and it will be managed through the Ministry of Small and Medium Enterprises”.

Also, Special Assistant Mr. Kayumba added during the joint press briefing at the State House that the $2 billion energy agreement signed with ZESCO would also benefit other sectors and create more jobs and business openings for local suppliers.

He encouraged Zambians to make better use of the opportunity from the investments and contribute to the country’s economic growth, as Anthony Bwalya the presidential spokesperson emphasized that the government is bent on finding a better solution to problems encountered in the energy sector. 

Mr. Bwalya added that Zambia will partner with South Africa and Senegal to further boost food for Africans through the production and supply of grains, which will in turn create more jobs and opportunities in the agricultural sector.