Zambia Advances SME Growth with Lobito Corridor Trade Facilitation Project
Zambia has taken a major step toward supporting Small and Medium Enterprises (SMEs) by signing a Memorandum of Understanding (MOU) for the Lobito Corridor Trade Facilitation Project.
This initiative, backed by the African Development Bank (AfDB), involves collaboration between Zambia’s Ministry of Commerce, Trade, and Industry and the Ministry of Small and Medium Enterprise Development.
The project seeks to strengthen trade among the Lobito Corridor states—Zambia, Angola, and the Democratic Republic of Congo (DRC). The MOU was signed during a ceremony in Lusaka attended by senior government officials, directors, and members of the press.
Mrs. Subeta K. Mutelo, Permanent Secretary for the Ministry of Small and Medium Enterprise Development, highlighted the project’s potential to drive SME innovation, create jobs, and contribute to Zambia’s sustainable economic growth.
A cornerstone of the initiative is the establishment of SME incubation centers in Zambia’s industrial hubs—Solwezi, Kitwe, and Ndola—situated along the Lobito Corridor. These centers will provide technical support, resources, and opportunities for emerging businesses to thrive.
Additionally, the project includes market surveys in Zambia, Angola, and the DRC to identify products in high demand. This effort aims to integrate local SMEs into regional value chains, facilitating their entry into export markets.
With an investment of $8.1 million, the Lobito Corridor Trade Facilitation Project is set to improve trade flows, reduce barriers, and boost commerce among the three nations.
Mrs. Lillian Bwalya, Permanent Secretary for Trade in the Ministry of Commerce, Trade, and Industry, underscored the project’s transformative potential:
“The primary objective of this project is to enhance domestic and cross-border trade, ensuring SMEs along the Lobito Corridor benefit from improved access to regional markets.”
This initiative marks a significant move toward fostering regional economic integration and empowering SMEs to become key players in Zambia’s economic growth.
