The Zambia National Marketeers Credit Association ZANAMACA has attributed the slow growth of marketeers into larger businesses to high-interest loans, inadequate financial literacy and poor collaboration between financial institutions and organizations representing informal traders. ZANAMACA President Mupila Kameya told Zambian Business Times-ZBT in an exclusive interview that although successive governments and financial institutions have introduced empowerment initiatives over the years, many marketeers have remained trapped in small-scale trading because existing financing models do not support sustainable business growth. Kameya said commercial banks have largely failed to design products suited to the needs of the informal sector, leaving traders with expensive...
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