In an interview with the Lusaka Star, UNZASU Business Affairs Secretary Clarence Kaoma says the stability of the kwacha is very important for the creation of a better entrepreneurial environment. University of Zambia Students Union (UNZASU) has called for stability in the Zambian economic environment if new entrepreneurs are to be successful.
In an interview with the Lusaka Star, UNZASU Business Affairs Secretary Clarence Kaoma said stability of the kwacha was very important for the creation of a better environment for new entrepreneurs.
“The country’s economic instability is negatively affecting the setting up of businesses for new entrepreneurs. It will be hard for them to succeed because they are making less profit,” he said.
Mr. Kaoma also commended government for the various programs it had put in place to promote youth entrepreneurship in the country.
“It is encouraging to see that our government is committed to promoting youths through programs such as the Citizens Economic Empowerment which are dedicated to empowering the youths,” he noted.
Meanwhile, UNZA Business Administration Student Kennedy Chanda appealed to government to be strict when allocating youth empowerment funds.
Mr. Chanda said the Youth Empowerment Programs had been running for a long time with no progress.
“The Institutions in charge of giving empowerment funds should do a research before giving out the money. They should be picking creative, innovative and experienced youths who can fruitfully use the funds,” he urged.
And Chirwa Musa, a shop owner at the institution has called for more youths to venture into entrepreneurship.
Mr. Chirwa said although it may be tough to start a business with the current economic crisis, students need to be innovative enough and venture into right businesses.
“New entrepreneurs should make sure they conduct necessary research on the business they want to venture in. That includes; order prices, selling prices and how much profit they can make from the business,” he added.
He, however, urged government to take keen interest in the pricing of commodities as they are too high.
Recently, Republican Vice President Inonge Wina called for more youths to venture into entrepreneurship activities to help stabilize the economy