Saturday, April 20, 2024

Mafinga entrepreneurs in IZB CDF loans windfall



CHRISTMAS has come early for Harriet Chirwa, a resident of Mafinga District of Muchinga Province after receiving Constituency Development Fund (CDF) loans.

Ms Chirwa was among 37 successful applicants for the CDF who benefitted from the CDF component of the loans for 2021 – 2022 season.
“From the money that I am getting from Indo-Zambia, I want to improve the standards of my business,” Ms Chirwa who runs a bar in Mafinga’s cosmopolitan area of Muyombe said.

She could not believe her luck when IZB disbursed K150, 000 to her business account, The Little Palace.

Despite her bar being the most trending in Muyombe, a border with Malawi, Ms Chirwa fails to meet her customers’ demands due to limited stock.
“I have a bar so I want to buy a vehicle so that I can be ordering more liquor and supplying to others,” she said

Ms Chirwa commended IZB for empowering entrepreneurs in the district.

“They have made our lives better. Our livelihoods have automatically changed. We really thank the government of the day,” she said.
Mafinga Town Council chairperson Duncan Kaonga was delighted by the gesture of IZB to honour the disbursement of the CDF loans.
Mr Kaonga said there will be peace because impatience was growing among the successful applicants after being assured of the disbursement a few months ago.

He said the disbursement was the culmination of hardwork by the local authority.

Mr Kaonga told the beneficiaries that a loan was a commitment between the lender and the borrower.

He urged the beneficiaries to work towards growing their businesses and contribute to the development of Mafinga District.

“We as Mafinga are hugely excited over an occasion like this where CDF loan beneficiaries are receiving their money. We are the second district in the country (after Mwandi District of Western Province) to receive the disbursements,” he said

IZB senior relationships manager Joseph Nyendwa said the process of disbursing loans was seemingly delayed because ‘good things take long.’
Mr Nyendwa said CDF loans, like any other loans have to be paid back.

“You may have diverted a grant and got away with it. This is a loan and you have to pay back,” he said.

Mr Nyendwa said Government introduced CDF loans to help entrepreneurs move from the bottom to another level.

Government has set aside a portion of the CDF for empowerment loans which are aimed at assisting members of the public to access financing and grow businesses within constituencies.

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