Local Business

We can reduce poverty – local contractors

LOCAL  contractors are happy with Government’s intention to engage local contractors in various developmental projects because they have the capacity to reduce poverty and significantly contribute to economic development.
The National Association for Medium and Small Scale Contractors    has commended Government for taking a bold decision to offer business contracts to local contractors which has always been a challenge in the past years.
National Association for Medium  and Small-Scale Contractors (NAMSSC) general secretary Danny Simumba said the move will also enhance job creation, improve trust and confidence of local constructing companies.
Mr Simumba said in an interview on Wednesday that with Government’s commitment to offer social amenities to the nation, it is significant for Government to create employment for Zambians.
“Most of our efforts have been responded to positively through the empowerment of our local contractors by Government,” Mr Simumba said.
He cited the newly-created districts as where most of the contractors have been awarded contracts saying, “This would go a long way in helping to reduce poverty and create jobs for the local people hence grow the national economy.”
He said the association is also working towards addressing the issue of lack of access to finance by small-scale contractors.
Mr Simumba, however, said lack of sound capital base is one of the major challenges that have led to poor investment in acquiring sophisticated heavyduty equipment required for undertaking major and specialised construction works.
Mr Simumba also said the federation is currently working with commercial banks to address the financial gap among small-scale contractors.
“To address the issue of lack of financial assistance among small-scale contractors, we have engaged commercial banks such as Stanbic, Zanaco, Finance Bank Zambia Plc and BancABC, Ecobank among others,” he said.

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