By BENEDICT TEMBO
Constituency Development Fund (CDF) loans have continued reaching the grassroots with 13 additional beneficiaries in the latest disbursement in Chilanga district. The 13 who have received K2.2 million are the third set after beneficiaries in Mwandi and Mafinga districts in recent weeks.
Chilanga Constituency has become the third to benefit from the CDF loans following the disbursement of K2.2 million to 13 beneficiaries yesterday.
Speaking during the disbursement of the CDF loan component by yesterday, Chilanga Member of Parliament Sipho Hlazo said the CDF loan disbursement was the first time it was happening in Chilanga after it was introduced by the new dawn administration.
This followed successful implementation of bursaries for boarding secondary schools and skills development to various beneficiaries in Chilanga constituency as well as community projects under the 2022 CDF.
“in addition, Chilanga district working with the CDF committee are in the process of concluding the selection of successful CDF applicants in all the categories for 2023, and sooner than later the beneficiaries will be communicated to when funds are made available, ” Mr Hlazo said
He said the CDF loan component has taken too long
to be disbursed due to some unforeseen circumstances beyond the local authority’s control.
“However, the Government has taken rigorous measures to correct the causes of the delay. We trust that we will not go through this again,” Mr Hlazo said.
He counselled beneficiaries to work hard so that the money is paid back as it is a revolving fund to enable other people to benefit.
“I will not relent from asking youths and women to form groups and register limited companies and cooperatives so they can boost their business through CDF loans because CDF funds cannot be given to individuals, whether grants or loans but to registered entities,” Mr Hlazo said.
Chilanga council chairperson Champion Tembo described the disbursement of the CDF loans as a milestone in the Government’s effort to empower community members through financial support as it is an important tool in improving the lives of constituents.
Mr Tembo said President Hakainde Hichilema has walked the talk by ensuring that the promises are actualised through serving the Zambian people by creating tangible opportunities for economic empowerment.
He said hoax peddlers wanted to create havoc saying that by taking CDF directly to the beneficiaries was a doomsday theory.
“CDF is a tangible policy by the government as it is a game changer and is directly taken to the people so that they can create their own opportunity in their own locality,” Mr Tembo said
Chilanga District Commissioner David Sheleni described CDF as a flagship programme of the new dawn administration to deliver development in all the 156 constituencies through the country.
“For any constituency to develop, it will need the efforts of every stakeholder. Zambia will be developed based on the performance of stakeholders,” Mr Sheleni said
Indo Zambia Bank Chilanga branch manager Patricia Ndoti reiterated the prudent utilisation of the loans.
“These are loans and not grants,” Ms Ndoti said
During financial literacy training, IZB Senior Relationship manager Joseph Nyendwa urged beneficiaries of the loans to remain focused on their business plans.
Mr Nyendwa called for financial disciple so that the money is used for the intended purpose.
At five percent interest, Mr Nyendwa said the CDF Revolving Loan Facility is the cheapest on the market.
He emphasised the need for loan management.
Beneficiaries have a two month moratorium before they can start paying for the loans.