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SEC calls for alternation finance solutions

TRYNESS TEMBO, Lusaka
THE Securities and Exchange Commission (SEC) says there is a growing need for academia, policy-makers and regulators to develop alternative finance solutions.
In this vein, SEC in partnership with the University of Zambia’s Graduate of business and ZISC Holdings Limited are inviting students across the country to participate in an essay competition on the subject of alternative finance.
In a statement availed to the Daily Mail recently, SEC will assess whether Zambia is ready for alternative financing innovations.
“Alternative finance is a global shift in how finance is provisioned such as financial channels and instruments that emerge outside of the traditional financial system.
“We believe that there is a growing need and a call from academic, policy-makers, regulators and industry alike to underpin these shifts with fundamental knowledge,” the statement reads.
The SEC says in developed markets, alternative finance is providing a solution to meeting the funding gaps especially for small and medium-scale entrepreneurs who have difficulties accessing funding from traditional lenders such as banks and stock exchanges.
SEC says to be eligible to participate in the competition, one needs to be a student at a tertiary institution in Zambia.
“The submitted essays will be reviewed by a panel of markers and the authors of the top five essays will be interviews and the prizes will be awarded to the top three,” reads the statement.
Through the completion the institutions intends to learn about why funders invest, lend, what alternative finance products can Zambia adopt and would these developments pose a threat or an opportunity for incumbent financial institution among others.

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