DBZ notes increased innovative ideas

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DBZ notes  increased innovative ideas

Lusaka, September 6, 2014, ZANIS—The Development Bank of Zambia (DBZ) says the country has continued to record an increase in innovative business ideas and activities.

DBZ Manufacturing and Commercial Manager Mwembe Sichula has attributed the increase to government’s effort of putting in place deliberate policies to help sectors that are coming up with innovative business ideas.

Mr. Sichula noted that this was visible through the number of financial applications which the development bank of Zambia is currently receiving.

ZANIS Reports that Mr. Sichula said this at the Zambia Innovation Dialogue Workshop in Lusaka yesterday.

Mr. Sichula said that the workshop was an important event as the knowledge gained was going to have a positive impact on the development of Zambia’s business sector.

He noted that most business ideas can have some financial difficulties but once they gain commercial value, it was easier to package them into proposals thereby sourcing funds from financial institutions.

Mr. Sichula said DBZ will continue to support Zambian entrepreneurs by providing short, medium and long term finances to support government’s economic development strategies.

He however cited poor business management skills, low equity contribution among others as some of the challenges affecting business inventors with respect to financing projects.