USE REVOLVING FUNDS PRUDENTLY – KWACHA MP

By NATION REPORTER
PATRIOTIC Front Kwacha Member of Parliament Joe Malanji has urged traders, taxi driver and other players in the informal sector to grow the revolving fund for future sustenance.
Mr Malanji said he was impressed with traders at Ipusukilo market in Kitwe who had raised the K100,000 revolving fund to K400, 000 while beneficiaries had since increased from the initial 200 to 830 marketeers.
Mr Malanji said in an interview in Kitwe yesterday that he was impressed with the discipline, commitment and enthusiasm.
This was after he provided the K100, 000 revolving fund early this year.
“As Kwacha MP, I am impressed and proud with the discipline, commitment and enthusiasm shown by marketeers at Ipusukilo market. With this kind of commitment, if they ask for some more help to start another project, I can support them.
“I gave them K100, 000 which has now grown to K400, 000 and the beneficiaries have increased from the initial 200 to 830. This is impressive. With this attitude we can fight poverty” Mr Malanji said.
Mr Malanji, who is Foreign Affairs Minister said he was however disappointed that some taxi drivers had mismanaged the fund which he had given them to boost their businesses.
He said his idea to give out the funds to marketeers was to help them boost their capital base, but he was disappointed that traders at Kampwena and Bulangililo markets had mismanaged the programme.
Mr Malanji said he had given K10, 000 to Kampwena market and K20, 000 to Bulangililo market to boost their capital base.

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