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Thursday, June 4, 2020

CEEC improves its recovery rate of loans given to Citizens

Economy CEEC improves its recovery rate of loans given to Citizens

Minister of Commerce, Trade and Industry Margaret Mwanakatwe
Minister of Commerce, Trade and Industry Margaret Mwanakatwe

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.

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  1. There was a time I strongly believed us Tongas will rule this country. I agreed with Munkombwe then that the hour for the TONGAs to rule had come. Indeed I believed the wind was blowing in TONGAs favour to have its own as President of this country.
    Alas this belief is slowly fading away! I do not see one of our own being a president in the next 10 years. Lets just join the PF and together we will steer this country to prosperity. As TONGAs and UPND…….I doubt it!

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