Monday, June 17, 2024

2022 CDF still lying idle in banks for Kasenengwa

Share

Makungwa Ward Councilor Alexander Miti has expressed concern with the delay to disburse empowerment loans under the Constituency Development Fund (CDF) by the Kasenengwa Town Council.

Speaking during the ordinary full council meeting held yesterday, Mr Miti wondered why the funds that were allocated towards the disbursement of loans under the 2022 CDF for Kasenengwa Constituency were still laying idle in the banks.

He said there is a need for the local authority to quickly disburse the funds to the clubs and cooperatives that applied for the loans so that they boost various business activities.

Mr Miti said the loan component under the CDF was meant to help clubs and cooperatives facing financial challenges in achieving their goals hence it should be disbursed without delay.

“I’m concerned with the delayed disbursement of empowerment loans under the CDF to the cooperatives that applied, since the funds were already released by the central government and are laying idle in the banks,” he said.

And in response, Council Secretary Caroline Mphande said the clubs and cooperatives that applied for the loans will receive the funds soon as some modalities that the local authority wanted to put in place such as opening a revolving fund account among others are done.

Mrs Mphande, however, mentioned that only four clubs and cooperatives were considered to receive the funds by the CDF committee as most groups that applied failed to meet the requirements.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading