K7.5m READY FOR TEACHER LOANS

By Brian Mwale- The Teaching Service Commission -TCZ- says about 7.5 million Kwacha is readily available for loans to teachers in the first phase, targeting about 20 selected districts.

TCZ Registrar EBBY MUBANGA says the rest of the districts will be catered for next year under phase two.

Speaking in an interview with ZNBC News, Dr MUBANGA said that teachers from private and public schools are eligible for the loans whose minimum amount is 1-thousand and 50-thousand kwacha maximum.

Dr. MUBANGA however notes that teachers from the private sector will need to have a thorough assessment of their schools’ capabilities to pay back before being awarded loans.

He said the council will engage financial experts to enlighten the teachers on financial literacy so that they don’t borrow for consumption but borrow for investments.

The TCZ Registrar said teachers are key in social and economic development hence the need to have their welfare ably taken care of.

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