. it is also important to realise that not all projects can access venture capital funds. only innovative, high quality and highly profitable projects may qualify for these funds. therefore applicants of these funds should think outside the box and provide well researched project plans that meet international standards. in this regard it is key for project promoters to collaborate and pool resources as a team instead of the usual norm of going it alone. in addition, as we are all aware, small and medium sized enterprises form the engine of economic and social development as they generate employment, and are an ingredient to growth and international competitiveness. it is therefore imperative that this key sector rises to the challenge and creates wealth through innovative entrepreneurship. a disciplined, innovative and successful sme sector will no doubt make zambia an attractive destination for more venture capital. to this effect, this workshop on venture capital should explore ways to support efficient resource mobilization for smes. distinguished ladies and gentlemen, with these few remarks, i now declare this workshop officially opened. i thank you for your attention and god bless your deliberations.

entrepreneurs who are financially excluded. access to improved financial services, through the provision of better ways of accumulating savings and access to credit to augment accumulated savings, avails funds for investment in income generating projects that help the public to lay foundation for better standards of living for themselves and their families. madam managing director, as your bank introduces these products on the market, please ensure that the pricing aspect is also critically looked at. many a time a good product is introduced on the market yet it is out of reach of ordinary citizens due to the costs associated with the products. consumers of these products expect an affordable service if indeed these are new and innovative products. banks need to show more commitment to the growth and development of the country by encouraging more zambians to open bank accounts through provision of easily accessible and affordable products and services. as i end my remarks, i want to remind all players in the financial sector that some of the challenges we face in our country today can indeed be mitigated by all stakeholders playing their respective roles. in particular, we have seen food prices increasing dramatically in the past few months. this is despite zambia possess vast arable land, relatively good weather and plenty of fresh water. further, zambia is predominantly an agricultural country, but lending to agriculture has been limited. the challenge therefore is to devise financial products that meet the requirements of the sector while at the same time devise means of protecting the financial institutions from the risks associated with lending to the agricultural sector. a vibrant agriculture sector will no doubt lead to a vibrant economy less dependent on the mining sector. i hope that standard chartered bank will lead the way in establishing affordable products and services for our small scale farmers throughout our country. i encourage you madam managing director in your capacity as the deputy chairperson of the bankers association of zambia to expand your horizon and collectively join hands with all stakeholders in addressing this problem. i thank you for your attention.