Ndola, July 2, 2026 (TOP243NEWS).-Zambia’s small and medium-sized enterprises (SMEs) have been urged to prioritize thorough business planning, market research and networking before applying for financing, during a panel discussion held on the sidelines of the 60th Ndola International Trade Fair.
The discussion brought together representatives from the banking sector, the Citizens Economic Empowerment Commission (CEEC), Zanaco, the National Pension Scheme Authority (NAPSA) and local authorities.
Panelists stressed that many entrepreneurs move directly from an idea to implementation without first assessing the commercial viability of their projects.
« An idea is just an idea. Before putting it into practice, entrepreneurs must demonstrate that it represents a genuine business opportunity, that there is a market for it, and that it addresses a real need, » one panelist said, encouraging entrepreneurs to make full use of available business analysis tools before investing.
The experts also advised young entrepreneurs against being overly ambitious at the start of their businesses, urging them instead to grow gradually, seek guidance from relevant institutions and build strong professional networks.
« Networking is essential. No entrepreneur can succeed alone, » another speaker said.
During the question-and-answer session, one participant challenged financial institutions over their credit assessment procedures, arguing that some lenders rely too heavily on checklist-based evaluations rather than conducting comprehensive assessments of business proposals.
He suggested that such practices could result in promising businesses being rejected while less viable projects receive financing.
Representatives from Zanaco rejected the criticism, saying every financing application is assessed individually according to the specific needs of the project and the risk profile of each applicant.
The CEEC acknowledged the challenges facing lenders but said poor loan repayment remains one of the biggest obstacles to SME financing in Zambia.
According to the commission, a significant proportion of loans issued to businesses are not repaid, placing pressure on the financial sector and reducing the resources available to finance new enterprises.
Officials called for a change in mindset, arguing that sustainable entrepreneurship also depends on stronger financial discipline.
The session concluded with a call for entrepreneurs to engage business support institutions from the earliest stages of project development to improve their chances of success and increase access to financing.
By Mike Pakoto | TOP243NEWS