Citizens Economic Empowerment Commission approves K30 billion
By DARLINGTON MWENDABAI
Out of those approved, 45 projects valued K14.7 billion have been funded.
Copperbelt Province permanent secretary Villie Lombanya said CEEC worked with the provincial administration to ensure the locals benefitted from the empowerment funds.
The provincial administration has received 53 applications from various markets out of which seven markets have since benefitted.
Mr Lombanya said this during the official handover of K200 million citizens economic empowerment funds (CEEF) to four markets in Ndola on february 28.
They include Ndeke, Masala Kapalala, Elisams and Mine Masala.
About 200 marketeers have benefitted from the CEEF with each receiving between K500,000 and K3 million.
He urged market committees to ensure all beneficiaries pay back the loans so that others can benefit through the revolving fund.
“I wish to reiterate that these loans, as the name chilimba suggests, are supposed to benefit others and therefore, the onus is on the people borrowing to pay back so that other markets in other districts also benefit,” he said.
Mr Lombanya said funds given to the marketeers are an indication of broad-based interventions to economically empower Zambians, especially those operating as micro-enterprises.
And CEEC programmes manager Ernest Muwamba said the loans should be repaid to avoid what recently happened in Solwezi, where funding was suspended because marketeers defaulted.
The commission has disbursed similar funds in Eastern Province and will soon give marketeers in Luapula Province.
Earlier, Zambia National Marketeers Association (ZANAMA) vice-chairperson Sydney Kayambo commended CEEC for the funding saying it was now easy for the informal sector to improve their businesses.