14 February 2013

Zambia: Govt Resumes Funding to CEEC

THE Government has resumed funding to the Citizens Economic Empowerment Commission (CEEC).

So far, KR47 million has been released for processing of business loans.

outgoing Commerce, Trade and Industry Minister Robert Sichinga said the Government had decided to resume funding to CEEC after a review and forensic audit into the operations of the commission.

The minister said at a media briefing that the Government had finalised reviewing the operations of CEEC and the commission would now resume the processing of business loans on new conditionalities.

He said following an audit of the fund, a number of measures had been put in place to ensure that CEEC operated efficiently.

Mr Sichinga said in line with the new strategic thrust, lending would be related to the value chain as identified for each district cluster.

He said projects that would exceed the new loan thresholds would be identified and reviewed by the board of commissioners and a specific request made to the minister for approval on exceptional basis.

Mr Sichinga also appointed the new board chairperson of the CEEC, Kasuka Mutukwa replacing Overs Banda, while Mercy Siame and Herticy Ng'ambi are the new commissioners.

He has also appointed Songowayo Zyambo as Zambia Development Agency chairperson and Nonny Mwanyungwi as his vice.

Mr Kelvin Bwalya is now chairperson for the Competition and Consumer Protection Commission and Dr Edgar Ngoma would chair the Zambia Bureau of Standards board.

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