CEEC unveils K365m empowerment funds

By Sharon Siame

The Citizens Economic Empowerment Commission -CEEC- has unveiled Seven Empowerment programmes to the tune of 365 million Kwacha.

CEEC Director General MUWE MUNGULE says the new empowerment programmes are targeted at Citizens, Small and Medium Enterprises as well as corporate enterprises.

Dr. MUNGULE says the first Empowerment product is the Marketeers Booster loan which is expected to create 10,000 jobs.

He says the financing product will be between 500 to 5000 Kwacha and will have no interest rate.

Dr. MUNGULE says the fund will be recovered in 3 to 6 months and is expected to enhance operations of marketeers.

He said this at a press briefing in Lusaka today.

He said the other products are Bulking Storage facility, Trade Finance Facility for SMEs and Cooperative enterprises, Light Manufacturing Finance Loan, Agro processing, Auto mechanics as well as ICT Innovations, Creative Arts and Media financing loans.

Dr. MUNGULE said loan recovery is fundamental for the Commission and has reminded those intending to get loans that they will be required to pay back.

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