Barclays Bank Zambia Renews Banks Commitment to Local SMEs Through Nyamuka Zambia Competition

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Barclays Bank Zambia increases sponsorship of Business Plan Competition to K600,000.

Barclays Bank Zambia PLC and the Nyamuka Zambia Business Plan Competition (BPC) renewed their partnership at a ceremony held at Barclays Bank Zambia’s headquarters in Lusaka today. The international banking titan will be staying on as the anchor sponsor for the 2017 season of the competition.
The Nyamuka Zambia Business Plan Competition (BPC), supported by UK Aid/DFID through the Private Enterprise Programme Zambia (PEPZ), seeks to inspire ambitious people with great business ideas to turn those ideas into reality.
At the ceremony Barclays Bank Zambia MD, Mrs. Mzinga Melu announced that her banks sponsorship of the Nyamuka Zambia Business Plan Competition (BPC) has increased from K500,000 in 2016 to K600,000 this year. This 20% increase reflects Barclays Bank Zambia’s ongoing support and commitment to the development and growth of local entrepreneurship talent. In line with government’s policy of nurturing the formation and growth of small and medium-sized businesses (SMEs), Mrs. Melu said, “In line with the Barclays Shared Growth Enterprise Development, Barclays is again this year proud to be the main sponsor of the Nyamuka Zambia Business Plan Competition to complement efforts to boost a solid pipeline of local entrepreneurs as well as encourage Entrepreneurship as a career choice. At Barclays we are fully aligned to ensuring that we support diversification in the Zambian economy and give support to start up or grow enterprise businesses which add growth to the economy.”
Receiving the cheque on behalf of Nyamuka Zambia Mr. James Blewett, Team Lead of the Private Enterprise Programme Zambia, thanked Mrs. Melu and Barclays Bank Zambia and emphasised the need for financial institutions and big business to support and grow Zambian SMEs for economic development.
He said that Nyamuka Zambia provides all competitors with business planning workshops, coaching sessions and opportunities to connect with the wider world of business –which would benefit their business regardless who will win it in the end.
“Promoting entrepreneurship as a core driver of personal and national development will be crucial in uplifting the estimated 60.5% of the Zambian population that lives below the poverty line,” said Mr. Blewett.
The Nyamuka Zambia National Business Conference, the next step in the competition, which brings together over 250 entrepreneurs at various stages of the entrepreneurship to learn from industry leaders, will be held on the 20th July, 2017 at Mulungushi International Conference Centre.