CEEC dishes out over K146bn
By Gideon Thole and Majie Sayila
THE Citizens Economic Empowerment Commission (CEEC) has disbursed more than K146 billion to 636 projects since 2008 when the fund was launched for the purpose of empowering local business people and other disadvantaged groups.
CEEC public relations and communication manager, Ephraim Belemu said during the Zambia International Trade Fair (ZITF) that 845 projects had been approved at a total cost of K202,354,330,121.02 billion in the same period.
He, however, said the commission had only managed to disburse K146,689,134, 767 billion to 636 projects because of the process which is involved between the period of approval and the actual disbursement.
Mr Belemu said more projects were likely to benefit from the CEEC funds this year because of the decentralised system which was recently introduced and the limiting of the loans to K50 million and below.
He said among the targeted groups which had benefited from the empowerment of loans so far were the disabled, HIV and AIDS groups, youths, women and others.
“We have made a great impact in terms of improving the well-being of the Zambian people who are disadvantaged through loans,” he said.
Mr Belemu said groups which did not succeed to have their applications approved should revisit the nearest CEEC office or the office of the district commissioners where they would be guided on how to apply by empowerment officers in their districts.
The commission does not segregate on who it gives loans but the empowerment funds were free for every Zambian to access as long as they met the requirements.
Mr Belemu said the commission would soon announce more points in the country where members of the public could go to secure application forms apart from the current offices of the district commissioners.
He said the commission expected people who had borrowed money to pay back on time as it uses the same money to pay out more approved projects from the funds that it raises through loans.