ONLY ZAMBIAN COMPANIES WILL DEVELOP THE ECONOMY IF SUPPORTED – SAP

Government has been called upon to supplement the efforts of Small Medium Enterprises (SMEs) by providing tax incentives to facilitate growth in the local economy. The call is from a locally based International Forex Trading Company, Southern Africa Portfolio Managers Enterprise Limited. Organisation Chairperson, Clement Mwila has appealed to Government to fully embrace SMEs in order to attain economic growth and mid income status by 2030. Mr. Mwila notes that developed economics like China have embraced SMEs to achieve the economic development. He adds that with Covid-19, a global pandemic, most business have slowed down in growth and profitability ,which has affected the maximization of wealth for shareholders but International Forex Trading is proving to be a force to reckon. And Company Chief Executive Officer, Chipo Bwalya pledged his company’s commitment towards youth empowerment and enhanced employment creation. Mr. Bwalya discloses that his organisation will soon employ and train one million people in Forex trading. The duo was speaking last Friday, 15th May, 2020 at the Shareholders Extra Ordinary Meeting in Lusaka. Southern African Portfolio Managers Enterprises Limited was registered under the Company’s Act of 2016 and has 33 shareholders with Investments in non-current assets and others assets as at 30th April 2020. The core business is Forex trading which involves the buying of commodities, derivatives, stocks, indices etc on the world financial markets as over $6 trillion is traded on a daily basis making it the biggest industry in the whole world. SAP Managers Enterprises limited has increased its shareholding by 200% due to a number of strategic decisions that have benefited the business.