Abstract

The role Micro, Small and Medium Enterprises play in every economy including Zambia is evident in every economy and are a driver towards the attainment of the Sustainable Development Goals (SDGs) (UN, 2020). The MSMEs have helped countries developed and developing in job creation, reducing the gaps in income and creating a more sustainable growth of economies. This development in this sector needs the country’s development policy towards MSMEs to be efficiently and effectively promoted in order to maximize its impact. Zambia implemented the MSMEs development policy in 2010 which expired in 2019. The main purpose of this policy was the provision of direction and guidance with regards to the efforts in relation to MSMEs sector in Zambia to foster growth that is sustainable which is the sole purpose of Zambia as it strides towards achieving its Vision 2030 of becoming “A prosperous middle-income nation” by 2030 (GRZ, 2006). The MSMEs development policy was support by the 6th and 7th National Development Plan which are well aligned towards creating sustainable growth and accelerating developmental growth.
This paper will evaluate the MSMEs development policy implementation, its challenges and a global benchmark will be conducted to see how successful some countries have managed to prosper in this sector. The research finding will be submitted to the newly established ministry of Small and Medium Enterprise.