K20 million allocated for specific projects: Duma

THE K20 million under the Government’s K200 million SME (small medium enterprise) funds set aside for the Department of Commerce and Industry (DCI) is allocated for specific projects, Commerce and Industry Minister William Duma says.
Duma said some of the money was given to different entities within the department such as the Investment Promotion Authority, Small Medium Enterprise Corporation (SMEC) and Registrar of Cooperative Societies.
He said the important role which each entity would play was to achieve financial literacy.
“Of that K20 million, some money has been allocated to the Investment Promotion Authority which will than assist our small entrepreneurs to incorporate and register their companies,” he said.
“Some money has been allocated to SMEC for the purpose of business incubation centres, some money has been allocated to the registrar of cooperative societies for them to carry out and continue their important work.
“It’s one thing to allocate K200 million, but it is another thing empowering and educating our people, the very people who are intended to benefit from this scheme.”