9 November 2012

Zambia: Find Ways to Grow SMEs, Expert Urges Accountants

ASSOCIATION of Chartered Certified Accountants (ACCA) country manager Mukaba Mukaba has called on accounts professionals to help find solutions which will stimulate growth of the Small and Medium Enterprises (SMEs) sector in the country.

Mr Mukaba said in Ndola yesterday that it was important for accounts professionals to play an active role in ensuring that the country's resources were managed in a manner that would be able to create opportunities for economic growth.

He said during an ACCA Public Forum at the Savoy Hotel that it was crucial for accounting firms and individual accountants to help the country grow its investments.

"The value of accounting is to help local companies grow beyond being regional giants to become internationalists," he said.

He said the flow of Africa's Foreign Direct Investment (FDI) was expected to grow in the next five to 10 years, therefore, accountants should reposition themselves for the challenge ahead.

He said there was growing evidence that foreign investors were willing to inject cash into the Zambian economy as evident from the US$750 million Eurobond which was sourced from foreign capital markets.

Mr Mukaba said accountants needed to stand up and support the business sector growth in the country.

He also called on SMES to open up and utilise the services of accountants.

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