By Derrick Silimina

The Zambia Development Agency has approved a new $600,000 loan facility under the Zambia Export Development Fund (ZEDF) to support businesses involved in exporting Zambian products.

In a statement, the funding is aimed at helping grow Zambia’s non-traditional exports, creating jobs, and strengthening local industries via $400,000 set aside specifically for youth led export businesses, demonstrating the Fund’s strong commitment to empowering young entrepreneurs and helping them access regional and international markets.

“This support will help strengthen local manufacturing, reduce imports and promote Zambian participation in the mine supply value chain.The targeted youth investment reflects a forward-looking trade strategy that will allow them to compete both regionally and at global level,” ZEDF Fund Manager David Chewe said.

Dr. Chewe noted that this financing initiative is being implemented under the ZEDF, which is managed by the ZDA under a Memorandum of Understanding between the European Union and the Ministry of Finance and National Planning.

He stressed that the Fund supports businesses that have strong potential to grow exports and contribute to Zambia’s economic development.

In addition to youth focused financing, Dr. Chewe highlighted that ZEDF also supports high impact non traditional export sectors that are critical for economic diversification which include: Apiculture: Enhancing honey processing capacity, value addition, and organic certification for international markets, Livestock: Supporting cold-chain infrastructure, supply chain efficiency and compliance with disease-free zone requirements to enable meat exports; and Supplies to the Mines: Expanding the capacity of local manufacturers and suppliers of industrial consumables, reducing import dependence while strengthening local content.

“The US$400,000 youth allocation marks an important step towards ensuring young Zambians play an active role in export-led growth. The funding will help to: Improve access to affordable finance for youth entrepreneurs who often struggle to secure loans from traditional banks, Support innovative and modern businesses, including those using digital trade, improved logistics, and new supply chain solutions and Create jobs by helping youth owned businesses expand and hire more people,” Dr. Chewe stated.