Africa-Press – Zambia. The Small and Medium Enterprise Association of Zambia has strongly opposed a proposal by the Ministry of Small and Medium Enterprises to introduce a bill aimed at regulating entrepreneurs.
During Tuesday’s edition of “Let the People Talk” program on Phoenix FM, Small and Medium Enterprises Minister Elias Mubanga disclosed plans to introduce a bill in Parliament aimed at regulating SMEs and entrepreneurs, with a focus on formalizing micro-businesses and addressing the challenges within the informal sector.
But in an interview with Phoenix News, Association Executive Director Ngobola Muyembe is urging government to reconsider its position and instead focus on strengthening the current initiatives.
Mr. Muyembe says government should work on the Business Regulatory Act No. 3 of 2014 aimed at improving the business licensing system in Zambia, the Patents and Companies Registration Agency -PACRA Act, and labour laws among others.
He argues that increased regulations without strengthening what is already there could stifle innovation and growth among small and medium-sized businesses who are crucial drivers of Zambia’s economic development.
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