FOR IMMEDIATE RELEASE
WITH PICTURES
SEPTEMBER 13, 2024
FQM OPENS DOORS FOR LOCAL ENTREPRENEURS WITH LATEST BUSINESS CLINIC
Initiative empowers SMEs and fosters development through collaboration with government and industry leaders
KALUMBILA, ZAMBIA – Local businesses in Kalumbila have once again had the opportunity to explore opportunities face-to-face with senior executives at First Quantum Minerals (FQM) during a business clinic for the company’s Trident mine.
The company’s open-door policy for the district’s entrepreneurs and SME business owners was cemented though the Trident Foundation annual business clinic under the theme: “Driving Local Economic Growth Through Sustainable Partnerships.”
This year’s event, in collaboration with the Zambia Development Agency (ZDA), continued the momentum set in 2022 when FQM and ZDA launched the initiative to empower local businesses and foster sustainable development within the mine’s catchment areas in North-Western Province.
The business clinic, which convenes various government, quasi-government institutions, and financial organisations, has evolved into a critical platform for small and medium-sized enterprises (SMEs) to engage with industry experts. It offers these businesses an opportunity to gain practical knowledge, build networks, and explore ways to integrate into the mining supply chain, contributing to Zambia’s economic growth.
Speaking at the event, the Minister of Small and Medium Enterprises Development, Hon. Elias Mubanga, applauded the collaborative efforts of FQM and ZDA in creating a conducive environment for local business growth.
Mr Mubanga also emphasised the importance of such initiatives in accelerating Zambia’s development and urged other mining companies to follow FQM’s example.
“For our country to continue on its development trajectory, we call upon other mining companies to emulate FQM in creating platforms such as this business clinic. These initiatives are essential to build capacity, foster business growth, and provide local entrepreneurs with opportunities to access new markets. When mining companies support local businesses and create opportunities for them, Zambia’s development will accelerate.”
The minister further highlighted the government’s commitment to ensuring local businesses participate fully in the mining supply chain and other sectors of the economy.
FQM Country Manager Dr Godwin Beene reiterated the mining company’s dedication to supporting local businesses and ensuring they benefit from FQM’s operations.
“At FQM, we take immense pride in supporting initiatives like this business clinic. Our main objective is to prepare local entrepreneurs and ensure that they benefit directly from the mining sector. By partnering with the government, we demonstrate our commitment to Zambia’s developmental goals. This business clinic empowers micro, small, and medium-sized enterprises (MSMEs) by providing essential business development services under one roof.”
Over the past four years, the mining company has supported 145 businesses through local business training and disbursed K6.7 million in microfinance grants.
Dr Beene underscored FQM’s efforts to address the barriers that prevent small businesses from accessing broader markets and highlighted the role of these partnerships in building a thriving local economy.
Since its inception, the business clinic has played a pivotal role in unlocking new business opportunities in Kalumbila District.
Zambia Development Agency (ZDA) Regional Coordinator Andrew Hachibe spoke on behalf of the ZDA Director General Albert Halwampa and shared the agency’s vision for further strengthening the partnership with FQM.
“I am excited to share that the Zambia Development Agency and the FQM Trident Foundation Limited are actively working to create an action plan with even more impactful activities and capacity-building training programmes. This collaboration is designed to unlock new opportunities for the Kalumbila business community, and we are focused on streamlining procedures to make it easier for entrepreneurs to thrive.
Our efforts will help ensure that aspiring business owners have the support they need to succeed in Zambia’s growing economy.”
The ZDA and FQM partnership has been crucial in simplifying business processes, allowing local enterprises to enter the market more efficiently. This ongoing collaboration aims to ensure a smooth integration of local businesses into the mining supply chain.
The FQM Trident Business Clinic continues to be a powerful catalyst for local economic development, promoting innovation and entrepreneurship in Kalumbila and surrounding areas. With its focus on fostering sustainable partnerships between the public and private sectors, the clinic aligns with Zambia’s long-term development goals and empowers local businesses to thrive.
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About First Quantum Minerals Ltd
First Quantum Minerals Ltd is a global metals and mining company producing mainly copper, gold and nickel. The company’s assets are in Zambia, Spain, Mauritania, Australia, Finland, Turkey, Panama, Argentina and Peru.
In 2023, First Quantum globally produced 707,678 tonnes of copper, 226,885 ounces of gold and 26,252 tonnes of nickel.
In Zambia it operates the Kansanshi mine and smelter in Solwezi, and the Sentinel copper mine and the Enterprise nickel mine in Kalumbila.
The company is listed on the Toronto Stock Exchange.
http://www.first-quantum.com/
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