• Zambia launches the Growth Investment Partners Zambia (GIP) initiative to raise over $300 million for SMEs.
• The program aims to support 150 SMEs over the next 15 years, with $70 million already secured from key international partners.
• President Hakainde Hichilema emphasizes SMEs’ pivotal role, as they account for 80% of GDP, 88% of jobs, and 97% of businesses in Zambia.

The Zambian government has launched a major financing initiative to strengthen the country’s vital small and medium-sized enterprises (SMEs). On July 15, officials unveiled the Growth Investment Partners Zambia (GIP), a platform targeting over $300 million in support for 150 SMEs over the next 15 years.

Government leaders designed GIP as a transformative investment vehicle for businesses struggling to access funding. The initiative has already secured $70 million in capital, with backing from British International Investment (BII), Zambia’s National Pension Scheme Authority (NAPSA), and Swedish fund Swedfund.

@Swedfund ??, @BritishIntInv and NAPSA launched Growth Investment Partners Zambia today officiated by HE @HHichilema. With a total investment of 70 MUSD, GIP Zambia will provide financing to help SMEs grow, create jobs and contribute to ?? development. #SwedenZambia60 #GIPZambia pic.twitter.com/l1JuNrLXcL

— Sweden in Zambia ?? (@SwedeninZM) July 15, 2025

Authorities have established clear eligibility criteria. SMEs must be registered as limited liability companies, demonstrate active job creation, and report annual turnover and assets ranging from $100,000 to $15 million. Eligible businesses must also seek financing between $500,000 and $5 million.

President Hakainde Hichilema highlighted the importance of the initiative, stating that small and medium-sized enterprises drive progress and job creation, and that Zambia cannot achieve economic growth without supporting this vital sector.

The statistics highlight the sector’s importance. SMEs generate 80% of Zambia’s GDP, employ 88% of the workforce, and represent 97% of all businesses, according to government figures. Most Zambian families depend on SME income, making the sector a cornerstone of both domestic and export-driven economic activity.

Despite this crucial role, SMEs in Zambia have long faced challenges. Financing remains scarce, while market access and limited business expertise hinder their growth. Previous support efforts have fallen short, prompting the government to increase funding for the Credit Guarantee Program this year.

This new $300 million platform is part of a broader strategy to address systemic financing gaps. In April, the government hosted the 2025 SME Mentoring Forum with Investlane Ventures Limited, offering business owners access to policy leaders, investors, and industry experts.

This article was initially published in French by Lydie Mobio

Edited in English by Ange Jason Quenum