Government says it is working towards raising K5 billion to Support Small and Medium Enterprises -SMEs- in response to the economic difficulties caused by the energy crisis and drought this year.
Small and Medium Enterprise Development Minister Elias Mubanga has revealed that the government is in talks with financial institutions to secure the necessary funds to help cushion the challenges faced by SMEs.
Mr Mubanga explains that the funds would be used to provide financial support to SMEs, who have been significantly affected by rising operational costs, inflation, and reduced access to credit.
The Minister says the government is also exploring other ways to ensure the funds are accessible to businesses across the country, with a particular focus on providing affordable financing options to enable them continue operations, invest in growth, and create more jobs.
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