Parliament yesterday heard that the Citizens Economic Empowerment Commission (CEEC) has improved its recovery rate of loans from 40 percent to 80 percent.
Minister of Commerce, Trade and Industry Margaret Mwanakatwe said this is a tremendous improvement in recovering loans, which in the past was a problem.
“Give us credit because we have improved on the recovery rate,” she said.
The minister said this in response to a question by Chadiza member of Parliament Allan Mbewe (MMD), who wanted to know why the CEEC has continued giving loans when the recovery rate is poor.
Mrs Mwanakatwe said the CEEC programme is getting exciting and Government is considering increasing funding in order to operationalise industrialisation and to create jobs for citizens.
She said CEEC disbursed over K4.3 million in 2013 and over K45.8 million in 2014, totalling K49.3 million in form of loans to various individuals and organisations.
Mrs Mwanakatwe was responding to Lubansenshi MP Patrick Mucheleka (Independent), who wanted to know how much money CEEC had disbursed during the two years.
Mrs Mwanakatwe said some of the sectors that were funded are agriculture, tourism, energy and education.