THE Citizens Economic Empowerment Commission (CEEC) is set to finance the setting up of 90 new factories in 42 districts across the country.
CEEC director general Likando Mukumbuta said the decision was aimed at promoting diversification and providing a strong foundation for industrialisation in Zambia.
Mr Mukumbuta said in an interview that the factories would be involved in the manufacturing of various products.
“We are excited about the National Budget because it will help us with our aim to spur industrialisation in Zambia. We are going full scale in setting up the new factories in 42 districts,” he said.
Mr Mukumbuta said the Budget announcement by Finance Minister Alexander Chikwanda last Friday would help in wealth creation because it focussed on economic diversification.
He said the Budget provided opportunities for his organisation to boost growth of upcoming industries.
Mr Mukumbuta said small and medium enterprises had been offered opportunities for growth because the budget focussed on economic diversification.
Meanwhile, MMD Chilanga Member of Parliament Keith Mukata has said that the National Budget was a robust one that focussed on economic diversification from copper.
Mr Mukata who is also Justice Deputy Minister said economic diversification was long overdue and the economy needed to refocus on agriculture and rekindling the small medium enterprises.
He however, noted that the onus was on Zambians to participate in economic diversification.
“We need to match the talk by all of us doing our part. We need to diversify the economy because that is the way to go,” Mr Mukata said.
He said he was happy that the National Budget had given incentives to the agriculture sector because for Chilanga district had huge
potential for agriculture.
With the number of thugs and criminals in line waiting, this is a failed project. If Mrs Mwanakatwe and her educated husband can get away with a billion they already have a plan to help them repay as they have eaten the money they will get refinanced. I say another last minute plunder opportunity for these Kolwes and Mbebas
Ba Cat Power, that’s the problem right there, how do you know there are a lot of thugs waiting for the loot? Guys you will never know until you try. In this case I believe its worth a try? EISH
but with power shortages,kaya.. dream on ba wishi
THIS IS WISHFULL THINKING AND IF ALL WISHFULL THINKING WERE HORSES ZAMBIA WOULD HAVE BEEN TURNED INTO A PARADISE BY PF. IS IT THE ROLE OF CEEC TO SET UP MANUFACTURING FACTORIES? IN MY VIEW CEEC WAS CREATED TO BE AN EMPOWERING VEHICLE OF ZAMBIAN ENTREPRENEURS AND IT IS NOT THE RESPONSIBILITY OF CEEC TO DECIDE WHICH INDUSTRIES TO SET UP AND WHERE? THEIR ROLE IS TO PROVIDE RESOURCES TO INDIGENOUS ENTREPRENEURS.
And how do you provide resources ? Do you just dish out funds without investigating the purpose where those funds are going and they will be repaid. CEEC is more than what you think it is.
Please, can you explain to us what is the scope of existence of CEEC?
Poor communication by GRZ to the pipo about such inicetives. No one will know about these funds only PF plunderes. May be it is deliberate so they steal more.
IF WISHES WERE HORSES. CHECKS AND BALANCES, AND MONITORING TOOLS, AND EXECUTING PUNISHMENT ON PLUNDERERS, THESE ARE THE GOOD SAFETY MEASURES WHICH LUNGU HAS TO PUT IN PLACE IF HE SERIOUS ABOUT GOVERNING OUR COUNTRY. OTHERWISE, AS THINGS STAND NOW, LUNGU IS A MOCKERY PRESIDENT TO THE ZAMBIAN PEOPLE. HE HAS NO DIRECTION AT ALL.
This should have been funded first before half of the roads they’ve constructed. Nevertheless it’s a brilliant idea. The question still remains is are they going to execute?