National Association of Traders and Marketeers of Zambia (NATMAZ) president Goodson Mofya has said the re-payment of loans obtained by marketeers under the Presidential Empowerment Fund has remained a challenge as traders are still defiant.
Speaking in an interview with ZANIS in Kitwe today, Mr. Mofya appealed on the marketeers to begin paying back the loans to allow others benefit from the funding facility.
He urged the beneficiaries to change their mind set and begin to use the money prudently and grow their businesses so that they can pay back to make the programme sustainable.
He noted that some members of NATMAZ thought the money was a donation to them and did not use it to grow their businesses.
Mr. Mofya said the beneficiaries are not paying back the loans despite President Edgar Lungu making it clear that the facility was a revolving fund which needed to be paid back.
He further bemoaned the lack of communication between the market associations leaders and the programme funders on the disbursement of the funds.
He however stated that the programme has helped to lift the business activities of most marketeers that have benefited from the programme.
Over 10,000 marketeers countrywide have benefited from the Presidential Empowerment fund programme which is an initiative of President Edgar Lungu.
The programme is aimed at growing the capital base of marketeers who have no capacity to borrow funds from commercial banks.