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Alba Iulia
Tuesday, July 7, 2020

Government concerned with the high default rates for CEEC funds -Mwale

Economy Government concerned with the high default rates for CEEC funds -Mwale

Vincent Mwale Sports Minister at Nkana Golf Club
Vincent Mwale Sports Minister at Nkana Golf Club

Sports, Youth and Child Development Minister Vincent Mwale says Government is concerned with the high default rates for its empowerment programs being rolled out under the Citizens Economic Empowerment Commission -CEEC- and Youth Empowerment Fund.

Mr. Mwale has attributed this to lack of priorities among most youthful entrepreneurs.

He was speaking when he officiated at the launch of the Mara Mentor Foundation by founder of Atlas Mara the owners of Banc ABC, Ashish Takker.

He says Zambia’s youths who form 82 percent of the population can contribute to economic growth if harnessed.

The Minister has noted that President Edgar Lungu last year launched the youth policy and action plan meant to address poverty levels and unemployment through a multi sector empowerment approach.

He says the youth mentorship program by Mara Foundation is what Zambian youths need alongside empowerment programs by government like farming initiatives where they are being given free land for agro activities with CEEC setting aside 40percent of empowerm

And Mr. Takker has commended President Lungu for supporting the initiative from inception as he has been passionate about it.

He says unemployment can only be stopped not by Foreign Direct Investment alone but by nurturing Small and Medium Enterprises in the country.

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10 COMMENTS

  1. There you have it …you give taxpayers to your cadres and you are surprised when they default…what a bunch of reckless empty tins!!

    • These funds are highly politicized. Why then should anyone wonder why cadres are refusing to pay back in an election year!

      These funds are considered “vya boma” so failure to pay is part of the package.

    • Was it after this same Banc ABC some employee killed her husband, with a PF gun? How useless and violent were those PF speeches? Because if they were inspirational no one would die immediately after the function.

  2. Mr Mwale that is the price of giving loans to PF cadres with no business know how. We know that the proposals they handed in most of the times were developed for them, yet they had no belief in the business ideas being sold on their behalf. Wishing you all the best, as you continue receiving an illegal salary for doing nothing.

  3. Why not just call Mwanakatwe out???? You clearly know she defaulted and yet she is being rewarded for being a bad steward of the people’s money

  4. These people are approached by people who are educated but they don’t want anything to do with them. I remember a colleague abroad saying someone had tried calling and emailing Mwale but he never responds. They want all the money to themselves and not empower youth. How can you give youth money when they have no business know how? Some have no grade 12 or grade 9 yet you want to issue loans. This chap here is another chap with cotton wool for a brain. They will be exposed very soon.

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