Business Accelerator Interventions and MSME Growth in Lusaka, Zambia

Abstract

Despite numerous interventions by the Zambian government and stakeholders, the failure rate of Micro, Small, and Medium Enterprises (MSMEs) in Zambia remains high at 50% (Chilembo 2021). This study investigates the influence of business accelerator programs on MSME growth. Employing a mixed-methods approach with 5 business accelerators and 50 MSMEs in Lusaka, the study found that accelerator programs offered MSMEs interventions including capital, mentorship, training, and networking. Training emerged as the most valuable intervention for participants. The study concludes that increased capital funding and expanded training opportunities are crucial for boosting MSME growth. It also recommends enhanced post-program mentorship and a shift in program emphasis from funding to broader growth support