Thursday, March 28, 2024

CEEC to revise its strategy

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The Citizens Economic Empowerment Commission (CEEC) is exploring various options to ensure that all citizens have access to the empowerment fund.

CEEC Director General Mable Mungomba told ZANIS in an interview in Lusaka today that the move has been necessitated by the absence of commercial banks in some districts to facilitate access and distribution of the funds.

Ms. Mungomba said some options so far discussed are the use of micro-finance institutions, District Councils and Postal services.

She explained that each avenue is being assessed for its merits adding that the Commission has since tasked a team of staff to travel to various districts without banks to make an on-the-ground assessment on the best and most efficient strategy for citizens’ access to the funds.

A financial inclusiveness survey undertaken by CEEF has revealed that 21 districts operate without banking services.

Ms. Mungomba’s was responding to reports that funds meant for Citizens Economic and Empowerment Commission (CEEC) for Chavuma District are lying idle at the Zambia National Commercial Bank in Solwezi because Chavuma District does not have a commercial bank to facilitate access and distribution of the funds.

Chavuma District Commissioner Frobisher Fulayi, who is also Chavuma District CEEC Chairman, recently launched a passionate appeal to the CEEC to review the system of accessing and distributing the funds as some districts lack commercial banks.

CEEC funds are presently accessed and distributed exclusively through commercial banks.

64 COMMENTS

  1. I know that what you wrote kaili that what you always wrote. Cant be sikisi when there’s just you and your bululu at the top

  2. In as much as i appreciate the need to change the strategy to allow access and information dissemination of the CEEC funds, management should as well identify certain rural industries or co – operatives that have potential to grow. District councils and the postal service are more central to the people unlike micro financing institutions that do not exist in certain districts. Having had a look at the application forms (which are a business plan in themselves),CEEC should make the application forms more user friendly and have a focal person in every district to help applicants.

  3. I think it’s a problem of keeping track of the money and making sure nobody gets left out, not an easy thing in those rural areas, a lot can happen between

  4. You chaps a quacks! No wonder LT edits your perpetual childishness. If you are going to be the first blogger, you might as well say something sensible.
    Coming to the matter at hand. CEEC should be commended for identifying the problem early and strategising on how to stop the rot.
    Thats exactly what LT needs to do concerning some of you chaps.

  5. LT what does nambala 1 or namabala 2 mean on this blog kanshi? Plse lets discus sensible things as grow nups and not like school boys or girls

  6. #19 the problerm is the article is so insubstantial that there isn’t really anything to comment sensibly on, so we have to amuse ourselves by being nambala wanu. You don’t have to read those

  7. CEEC doe not have the proven capacity to disburse these funds. If they want to it will be political and only MMD cadres will access. The best is to use established commercial banks and microfinance institutions who will evaluate apllications objectively and only this will deter will be defaulters.

  8. Plenty of sense of humor. Just not prepared to waste it on your childish nonsense. Very quick to type I see. Am sure you are like that ALL THE TIME. Quick, that is.

  9. Lets make meaningful contributions on forum, don’t just rush and write number 1. Abana bama hule eba behava kwati these tubene Sony and company. Grow up you chaps!!

  10. Nambala 1 and so on is funny anyway! i wonder this guys are just there waiting for LT postings.That aside the CEEC should be more inclusive and more flexible to allow as many Zambians as possible to access the funds.

  11. LT. what did number one write. you might as well remove this disclaimer down here: DISCLAIMER: Any view, opinion or information submitted in the comments is the sole responsibility of the respective contributor or visitor to the site.They do not in any way represent the views of Lusakatimes.com and LT cannot be held responsible.

  12. Being on the ground in development work, I feel taking such funds to Provinces like Kasama is a shear waste of funds. I have seen most development work in this region to be failing because of the attitude people have,”Kulyamo fye” People have failed to justify smaller government grants. Now , what will make this CEEC a success. I wonder!!!

  13. 29: you see all we are doing is push back your dirty bile down your throat! youy rush to write neumber one even when you have nothing to say. thanx 23 and LT

  14. Typical Zambian, here is an opportunity to won the economy by expanding the enterpreneurs, SMEs, etc, And what we do is talk and talk, while some people will be siphoning this money until none is left.Does the organisation has policies to ensure ONLY Zambians benefit, that no fronting will be done, help the poor with business plans, awareness programs for everyone to understand its vision.

    Lets stop complaining of being workers and start being employers or owners, here is an opportunity, go open guesthouese, farms, factories, etc.

  15. The name should have been Indigenous (Black) Economic Empowerment Commission so that the many disadvantaged Zambians are given an opportunity to run the economy as well. As it stands, any citizen, regardless of how he/she acquired the citizenship is eligible to access these funds. Just take a look and see how many people of foreign origin are Zambian citizens!

    Lets be brave enough and act like our colleagues in South Africa who have called it BEE (BlACK Economic Empowerment). No racial motives!!!

  16. You don’t need banks all over the place to operationise the fund. For it to work let it be practical and targeted. It should be designed and implemented to work and create impact. Let this not be just another programme which will go into the achirves after a few years without any tangible outcomes.

  17. # 38, i agree with you. Those that will acceess this money includes those indian-zambians, chinese-zambians coz they have got the collateral. me as a poor black zambian from Misisi cant have collateral to show for. I only have 2 shirts and a bicycle that is not even worth K40,000.00. Jesus pliz come fast. Banyandule bativuta.

  18. In a surprise turn of events, outspoken Munali Member of Parliament Mumbi Phiri, has u-turned and claims she voted in favor of the bill in support of the 15 percent Salary hike for Constitutional office bearers by accident.
    How possible?

  19. I think this topic is too sophisticated for some chaps so they have nothing to say yet they still want to write something.

  20. #44 I’ve also noticed that.There’s all sorts of nonsense commented on this topic.LT bring on something third rate please.

  21. It is indeed disheartening to note that inspite of us having a critical topic at hand to discuss and share valuable ideas, some guys are just keen of trivializing it! The number of useless comments makes a lot of us stay away from blogging in order to learn and share something.

    CEEC is a very good initiative which our concerted input to be meaningful to the general populace. The main concern that I have is that the funding cap for start-ups is very little for any meaningful project to be funded. This needs to be reviewed upwards of better still assessed on a case on case basis.

    The issue of collateral is also a drawback. Most developed nations had their gov’ts guarantee (Cont’d)

  22. The issue of collateral is also a drawback. Most developed nations had their gov’ts guarantee the SMEs who intended to borrow without necessarily asking for impossibles in the name of security. Many bright projects are born and die on drawing boards because folk and discouraged due to requirements on the part of the lending institutions, including those meant to assist the underpriviledged…like the case is with CEEC.

    The CEEC needs to get views from would be beneficiaries widely and then get experts to advise on how to make suck views viables.

  23. thanks #48, 49 and others for the background info on CEEC – this isn’t available in the article. You are giving us something to comment on

  24. I just hope what happened to PHI doesn’t happen to CEEC where something meant for the ordinary Zambian ends up in the hands of the allready privilaged and beyond the reach of the ordinary Zambian.

  25. I would like to applaud the CEEC for identifying the problem and finding a way to solve it. An important aspect in a growing economy is the access of credit. Something the west knows very well and this is one of the reasons they have funded the banks so as to try and make credit readily available again.

    I would also like to commend the CEEC for making credit available in areas banks would not dare settle or give out credit in. The CEEC is one of the best things that has ever come in this country and I encourage all Zambians to take advantages of the CEEC. Use those brains and come up with business plans and go apply for a CEEC loan.

    WELL DONE CEEC. Your services are much appreciated.

  26. The statement is misleading the banks are just giving out the application forms for the fund. After filling the application the funds are approved either by provincial committee or the CEEC in Lusaka. These funds are difficult to access you need to have title deeds,produce 2 years of audited accounts, Tax returns clearance, Cashflow projection, statement of cashflow, projection of your balance sheet for next 5 years.It does not make sense when you look at the requirement for these funds. I wonder how many citizens will manage to go through this type of hell. It is very easy to borrow from the bank if you are in proper employment or if your company is doing fine than the CEEC.

  27. #51, you seem to be insunuate that leaving Zambia to work out in the ‘diaspora’ is a major achievement! Well, I have got bad news for you…your lot is worse than mine back home! It is a fallacy I don’t envy. You work yourselves out doing odd jobs just so you can tell people you leave in the UK/USA. I do not have a problem with people going for better opportunities, but I have a problem with those who think it is the pinnacle of their whole existence! And I ve seen such on this blogg!!

  28. #54, the requirements in terms of information I do not have a problem with. How does one prove that they have a viable project unless they can paint a picture of their thoughts and hence show understanding of where they want to be in the foreseeable future, in terms of numbers.

    The main contention though, lies on the issue of security. Where do we get property to pledge when we have nothing to our names. This is where I stated earlier that the gov’t needs to come in and guarantee the borrowings of viable projects. Not every application should necessarily be funded. Funding should be on merit.

  29. “The Citizens Economic Empowerment Commission (CEEC) is exploring various options to ensure that all citizens have access to the empowerment fund.

    CEEC Director General Mable Mungomba told ZANIS in an interview in Lusaka today that the move has been necessitated by the absence of commercial banks in some districts to facilitate access and distribution of the funds.

    Ms. Mungomba said some options so far discussed are the use of micro-finance institutions, District Councils and Postal services.”

    When are we going to start accessing the CEEC financial resources. There has been too much talk and yet progress is not seen todate. let us be serious instead of always joking with us.

  30. #57. Maestro Hhehhehhehhe

    If you expect cold turkey action, you got to be kiddin me. They have just figured out what the problem is, you seriously don’t expect them to just make a static decision.

    They have to find ways that will efficiently solve the problem and that is what they are doing right now. Cold turkey action will just bring about more problems. We need a lasting solution and those solutions just don’t happen all of the sudden.

    Instead of attacking the CEEC, why don’t you contribute on ways to make it more efficient.

  31. #49. It Is Time!

    Just a small comment on collateral. The CEEC once approved a project by some youths and when they went to observe the project, they where disappointed with what the outcome was.

    The funds had been misused and the project that was funded was in tatters. This was the case where the CEEC requested that they repay the money or face legal action. I was reading about this sometime ago and so I can only remember vaguely on the topic.

    “I think” that is where the issue of collateral came about. Whenever you have people misusing funds, it tends to bring about more problems. [tbc

  32. cont from #59]

    This is evident from the sub-prime mortgage crisis of which loans where given out to people who would not have been approved for the loans if the normal model instead of the sub prime model was used and this is why we are in this mess right now.

    Yes this is a fund meant to help the Zambian citizens but it must also be vigilant on the projects it approves to fund. Mind you the CEEC runs on tax payers and donor agencies money and so if they lose out because of approving projects that do not yield any fruit, it will be the tax payers and donors who will have to pay for the mis-applied funds.

  33. Replace CEE with a more efficient body or a government department.CEEC have failed and have generally acquired a bad image in diffrerent districts of the country.They concentrate their activities at the provincial level with no district representation.Most of the resouces are likely to be misallocated and the projects will fail coz of little consultation at the district level. They also need to employ qualified personel to be managing their affairs , I have been very disapointed with the way they conducting their activities having attended 2 unsuccessful meetings

  34. Good initiative but again the management will be as usual pathetic.I wish it would serve its purpose, Zambia has too much foreign ownership, if not the highest on the continent.Lets empower our young guns open business like small mines, hotels, game parks, factories, etc.This organ. should run competitions of business plans to say 100 entrants and pick the best 20.Then arm them with all the resourses like skills, mentorship, capital, etc.And put priority to sectors of the economy like Agri, Tourism, Manufacturing, etc.But way to go guys just start the processes, we are tired of the talking.

  35. I have been reading your comments and would urge you to come to our offices to iron out any misunderstandings. We are open to your ideas and suggestions and have an open door policy where we want to hear from you.

    PML
    Research Manager, CEEC.

  36. Agree with #60 on the sub- prime that lead to world economic crisis but disagree on CEEC’S too strict contingence measures put in place.What was the motive in the sub-prime? Make profits at a high risk.CEEC,S objective is to empower ordinary Zambians and not make profits.Therefore the continguence measures (CM) should be relaxed for ordinary Zambians to have access to the funds. Be conscious that 60% of the Zambians are in the informal sector and are contributing positively to the ecomomy.I agree that finances require “CM” but CEEC ‘S ‘CM’ should be realistic for an ordinary derserving Zambian? Relaxed CM and an effective monitoring strategy will be ideal.Nutshell, CEEC good initiative

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