The Lusaka Stock Exchange (LuSE) has launched the LuSE Gem Portal, an innovative digital platform primarily aimed at providing small and medium-sized enterprises (SMEs) with access to capital to invest in the growth of their businesses.
LuSE Chair Kayula Siame said that the Lusaka Stock Exchange, together with its partners, is pleased to introduce the portal, an admitted and currently being tested initiative under the Capital Markets Regulatory Sandbox.
Speaking at the launch of the LuSE Gem Portal for SMEs, Siame said the portal identifies, assesses and enables the urgent provision of finance to eligible SMEs.
Siame noted that in its continued efforts to make a positive and effective contribution to the growth of the national economy, LuSE has, in line with its strategic plan, continued to implement initiatives aimed at boosting private sector productivity and support government programs.
She explained that by providing SMEs with this digital platform, LuSE is following the trend of global digital transformation which is leading to the integration of digital technology in all areas of business and is fundamentally transforming the way businesses operate. and deliver value to their customers.
Siame added that as a result, a key objective of LuSE is to facilitate the mobilization and access to much-needed investment capital for large corporations and small and medium enterprises to facilitate and sustain their operations.
She said financial support to productive sectors of the economy largely populated by SMEs is vital for the health of the general economy, noting that during and after the current Covid-19 outbreak, is an even more pressing matter requiring urgent attention.
Siame mentioned that the gemstone portal is particularly relevant in today’s difficult times, as an effective way to provide relief from the disruptive effects of Covid-19 on the national economy and in particular its impact on SMEs.
She noted that the goal of the portal is to enable SMEs to build their capacity to rebuild and continue their activities during and immediately after the Covid-19 crisis.
Siame added that through the portal, all SMEs dedicated to the local production of equipment, installations, accessories and services in the fields of health, food and agriculture will be helped. by the United Nations Capital Development Fund (UNDCF) to meet the expected increase in demand for these resources. by an ever-growing population.
“As a securities exchange, LuSE continually pursues listings and in this regard, LuSE recognized as early as 2015, the need to expand the possibility of listing investors, high net worth individuals who have not yet joined us, join us and partner with us on the gemstone portal and offer financing to SMEs,” she said.