PEPZ launches the new Zambia Business Growth Fund
LUSAKA, ZAMBIA – Monday 26 March 2018
Today marks the launch of the Zambia Business Growth Fund, a significant new grant-giving challenge fund designed to encourage Zambian businesses to scale up through investment in technology and skills. The Fund’s goal is to enhance the ability of SMEs to access markets and sell their goods and services through improved use of technology and upgraded worker skills.
A total pot of up to ZMW 10 million is available for companies operating in PEPZ’s 3 focus sectors (food & agriculture; mining & mining services; tourism & hospitality) or from cross-cutting sector such as ICT, which impacts across these industries.
Through PEPZ, the Fund will co-finance up to 50% of the cost of commercially viable investment projects that deliver profits to the enterprise while also contributing to wider, inclusive economic growth for Zambia.
Applications can be submitted by individual firms or by consortia comprising two or more firms. PEPZ is particularly interested in applications stemming from partnerships between “anchor firms” (large, high-capacity companies) and SMEs or microenterprises within its target sectors. Successful companies will be selected through a competitive process.
PEPZ’s team Leader, James Blewett, commented: “We repeatedly come across companies who are held back from achieving significant growth because they simply cannot afford to make the necessary investment in technology and skills to scale up their operations. Our intention is that, by contributing up to 50% of the cost, the Zambia Business Growth Fund will help to bridge that technology and skills gap”.
The application period starts now and runs to the end of April. “However, we encourage companies to apply early as there is bound to be high demand. We are keen to make this Fund as accessible as possible and have made the application quick, simple and straightforward”, James Blewett added.
Companies can download details and the application form at www.pepzambia.com/zbgf/