NOMSA NKANA, Lusaka
IN VIEW of external shocks, the private sector needs to come on board to contribute through various business participations to increase foreign exchange in the country.
Minister of Higher Education Nkandu Luo said the foreign exchange earnings are expected from agriculture, tourism and small-scale mining, which have the potential to hedge the country’s economy against external shocks.
“Government is working towards promoting an environment that fosters strong private sector participation in the socio-economic development process,” Professor Luo said.
She said this at the launch of the Chartered Accountant Zambia and diploma in accountancy professional qualifications.
Prof Luo said to achieve a diversified economy under the Vision 2030 (with the objective of Zambia becoming a middle- income country), Government places importance on the contribution of small and medium enterprises (SMEs) to economic development of the country.
To this effect, Government under the Private Sector Development Reform will continue with programmes and reforms aimed at growing micro, small and medium enterprises.
Prof Luo said supplying of appropriately qualified accounting personnel to the SME sector is cardinal to complement Government’s efforts in witnessing the growth of the sector.
“The diploma in accountancy would not have come at a better time than now. SMEs need appropriately qualified accounting personnel to support the preparation of various statutory returns for their businesses,” she said.
Meanwhile, Zambia Institute of Chartered Accountants (ZICA) president Jason Kazilimani said the diploma in accountancy programme was designed to strategically support the SMEs who are the cornerstone of Zambia’s economic growth.
Mr Kazilimani is aware that most SMEs in Zambia cannot afford to engage chartered accountants, hence the diploma in accountancy qualification is meant to provide the sector with the right cadre of accounting personnel that are capable of serving their needs.