Business

SMEs urged to embrace technology

KALONDE NYATI, Lusaka
VODAFONE Zambia has implored small and medium-sized enterprises (SMEs) to embrace new information technology to boost their businesses and fortify their significant contribution to economic growth.

Company chief executive officer Lars Stork said the SME sector has an important role to play in economic development, poverty reduction and employment creation in developing economies.

In a statement issued during the recently held 8th Ease of Doing Business Initiative (EDBI) conference in Livingstone, Mr Stork said that the sector largely exceeds the average economic growth of national economies in many countries and contributes significantly to employment creation.
He was making his contribution on ‘Enhancing SME Development’.
Mr Stork said, “While ICTs are not a panacea to the challenges that SMEs faces, it is crucial to recognise that technology is moving at a rate faster than most could imagine and micro-enterprises must leverage this to help catapult them into new markets with new growth opportunities.
“The number of Zambian enterprises who are digitally-engaging their customers be it through social media, online advertising or email marketing, are the ones being successful,” he said.
He said Vodafone Zambia believes that with a robust policy environment and adequate ICT private sector support, small businesses can elevate to ‘The Next Generation SME’
The EDBI is a peer-to-peer learning event requested by African countries and supported by the World Bank Group, to facilitate knowledge sharing on doing business reforms.
Vodafone Zambia committed over K200, 000 towards the peer-to-peer knowledge sharing experience, which was held under the theme ‘Business Reforms for Industrialisation, Value Addition and Job Creation’.

 




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