RISE/E Project Sparks New Hope for Zambia’s SMEs

By Daily News Reporter

Inside Standard Chartered Bank Zambia’s Head Office, rows of exhibition stands buzzed with conversation as entrepreneurs confidently introduced their products to visitors, potential customers, and business partners.

For many of the small business owners gathered there, the showcase represented far more than a marketing opportunity. It marked the culmination of months of training, mentorship, and determination under a programme designed to help young Zambians turn business ideas into sustainable enterprises.

More than 30 small and medium enterprises (SMEs) recently showcased their products and innovations during the latest exhibition held under the Ready for Inclusive Sustainable Employment and Entrepreneurship (RISE/E) Project — a ZMW14 million initiative supported by the Standard Chartered Foundation through its Future makers programme.

The programe was Launched in June 2024, the three-year programme which seeks to equip young people, including persons with disabilities, with entrepreneurship and employability skills at a time when Zambia continues to face significant youth unemployment challenges.

The latest showcase celebrated the successful completion of the project’s second cohort, with participants demonstrating how targeted business support can help entrepreneurs move from survival-driven ventures toward sustainable growth.

Across Zambia, thousands of young people are turning to entrepreneurship as formal employment opportunities remain limited.

Yet while many possess creativity and ambition, access to financing, mentorship, technical support, and reliable markets continues to hinder the growth of small businesses.

For entrepreneurs from underserved communities — especially women and persons with disabilities — those barriers are often even greater.

The RISE/E Project was created to help address those challenges by providing practical business development training, mentorship, and enterprise support aimed at building resilient and inclusive businesses.

This year’s graduating cohort reflected that inclusive approach. Of the more than 30 entrepreneurs who completed the programme, 21 businesses were led by women, while 16 were run by persons with disabilities.

For many participants, the programme provided not only technical business knowledge, but also confidence and exposure that are critical for long-term success.

Unlike traditional entrepreneurship programmes that focus solely on classroom instruction, the RISE/E initiative combines practical enterprise development with networking opportunities and mentorship support.

Participants were guided through structured training designed to help them strengthen business management skills, improve product development, and better understand market opportunities.

The exhibition event itself served as a practical platform where entrepreneurs could directly engage with customers, corporate stakeholders, and potential investors.

From locally produced goods to innovative small-scale services, the showcase highlighted the growing creativity emerging within Zambia’s SME sector.

For organisers, the event demonstrated how investment in entrepreneurship can create ripple effects extending beyond individual businesses into communities and local economies.

Speaking during the showcase, Standard Chartered Bank Zambia Head of Corporate Affairs, Brand and Marketing Christine Matambo said the programme reflects the bank’s broader commitment to inclusive economic growth.

“We are delighted to see the RISE/E Project create opportunities for Zambian entrepreneurs from all walks of life,” she said. “This programme exemplifies our commitment to inclusion and sustainable development, and it’s inspiring to witness the progress and success of every participant.”

Her remarks come amid growing calls for the private sector to play a stronger role in supporting inclusive economic participation, particularly among groups that often struggle to access mainstream financial and business opportunities.

Development experts say empowering women, youth, and persons with disabilities through entrepreneurship is increasingly becoming central to sustainable economic growth across Africa.

In Zambia, where SMEs contribute significantly to employment creation, supporting small businesses is seen as critical to reducing poverty and expanding economic opportunities. Challenges Zambia Project Manager Kasonde Kashulwe said the programme’s second cohort has already shown encouraging signs of growth and resilience.

“This cohort saw the graduation of more than 30 entrepreneurs, including strong representation of 21 female-led businesses and 16 businesses led by persons with disabilities,” Kashulwe said. “It’s encouraging to see participants taking bold steps in their entrepreneurial journey, culminating in this showcase.”

Beyond individual success stories, initiatives such as RISE/E are also expected to contribute to broader economic development by helping SMEs expand operations and create jobs for others.

As small businesses grow, they often become important sources of income and employment within their communities, particularly in urban and peri-urban areas where economic opportunities remain limited.

The RISE/E Project, implemented in partnership with Sightsavers and Challenges Zambia, aims to reach at least 270 young people, including 90 young entrepreneurs, during its implementation period.

Through the Standard Chartered Foundation, the programme forms part of wider efforts to tackle barriers to employment and entrepreneurship facing underserved groups.

For many of the entrepreneurs exhibiting their businesses at the showcase, the programme has offered a rare opportunity to access tools and support systems often unavailable to small enterprises.

And as visitors moved from stand to stand admiring products and exchanging contacts, one thing became increasingly clear: Zambia’s entrepreneurial potential is abundant — but with the right support, it can become transformational.