Speaking on the sidelines of the World Economic Forum (WEF) workshop in Sandton, South Africa, Yaluma said the use of cooperatives and clusters were yielding positive results for Zambia.
He said SMEs in Zambia were contributing positively to the economy due to the high number of jobs being created in this industry.
Yaluma further expressed optimism that the trade and industry reforms that government had implemented would lead to the country’s industrialisation.
He said Zambia was now able to manufacture goods for export, particularly in the agro-processing sub-sector.
Yaluma said the revised policy on industrialisation has enabled Zambia to begin to add value to its raw materials.
But lack of adequate support for the SMES from commercial banks and other financial institutions in the country is a source of concern for Yaluma who asked other players to come on board and increase funding for the SMES.