25 January 2013

Zambia: CEEC to Dish Out Kr100 Million in Loans

THE CITIZEN'S Economic Empowerment Commission (CEEC) will this year give out more than K100 billion (KR100m) as economic empowerment loans, director general Likando Mukumbuta has disclosed.

Mr Mukumbuta said each province would receive between KR10 million and KR12 million of which 30 per cent would be allocated to the women and 40 per cent to the youth.

The balance would be for various entrepreneurs and the disabled.

Mr Mukumbuta made the announcement in Kabwe yesterday during a stakeholders' consultative meeting.

He said Small and Medium Entrepreneurs (SMEs) should be empowered for the planned economic clusters to work.

He explained that the commission had started carrying out consultative meetings throughout the country to identify the products in each province so that economic clusters could be established.

Mr Mukumbuta said in the past, the commission gave out loans directly but this time around, money would be paid through financial institutions supervised by the Bank of Zambia.

He said the commission would be picking three districts and identify the products that were readily available.

He said the commission would soon call for proposals in 30 districts and encouraged the local people to apply.

Kabwe Chamber of Commerce and Industry representative Lauren Haangala was happy that the local people were keen to tap into the economic clusters.

Mr Hangala said Kabwe produced a number of products that would generate reasonable income.

Meanwhile, Zambia Federation of Associations of Women in Business Kabwe chairperson Symphrosa Chomba said the programme was well-thought and that it would yield good results if well-managed.

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