Management consultancy and business development firm, Accesserator, has set aside over K1 billion for small and medium entrepreneurs (SMEs) to access and establish or boost existing businesses in 2020.
Accesserator Country Director, Patrick Namakhoma, said the firm would own 40 percent shares in any business of the SMEs choice.
The firm, then, will have to sell back the shares to the partner within five years.
Namakhoma said the major setback is failure by the businesses to write compelling business proposals or plans to secure the needed investments.
“We have been operating in the country since 2017 and we have worked with 14 businesses disbursing over K200 million. In the process, however, we have more than enough funds to work with as many entrepreneurs as possible,” Namakhoma said.
Executive Director of the SME Chamber, James Chiutsi, said the initiative would help address capacity challenges.
“We need government departments to use the government resources to train SMEs on proposal writing. However, some of our members do complain that good business proposals still do not get funding, eventually proposals end up in the hands of wrong people, when presented to financiers in good faith,” Chiutsi said.
Accesserator is a Netherlands-based firm bringing knowledge and skills to the people, next to the needed money for starting a business.