Friday, June 14, 2024

CDF to stimulate economic activities in Katombora Constituency

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By BENEDICT TEMBO
The disbursement of Constituency Development Fund (CDF) loans in Katombora Constituency in Kazungula District of Southern Province will not only stimulate economic activities but also duversify the local economy. Kazungula Town Council Secretary Jamie Mukwato thus has a good reason to be upbeat.

Mr Mukwato is confident that loans to entrepreneurs in Katombola Constituency will spur investment in the area and improve the welfare of local people.

Indo Zambia Bank (IZB) recently disbursed K2, 476,605 to 22 entrepreneurs under different categories.

“Firstly, it will increase money circulation in the local economy of Kazungula, meaning people will continue investing and reinvesting in the local economy and improve their welfare,” Mr Mukwato said.

“This will diversify the local economy and build into the national agenda of economic diversification. Firstly, we start with diversification within the agricultural sector, where we will be seeing value addition to farm produce,” he said

Mr Mukwato noted that CDF has helped Kazungula in terms of improved infrastructure and the welfare of the people.

“We have seen increased and improved infrastructure such as schools and water points. People got grants and now loans to engage in business. This will ultimately improve their welfare,” he said

On the local authority’s partnership with IZB, Mr Mukwato said it has come at a right time to add value to the loan component of the CDF.
“The beneficiaries are not only getting the loans, but they have undergone financial literacy training. This gives hope that the beneficiaries will put the monies to good use,” Mr Mukwato said

Peggy Hamukoma, IZB branch manager for Livingstone who conducted the financial literacy session said the training will assist the recipients in running successful projects/businesses.

Kazungula is now one of tconstituencies in which CDF loans have been disbursed.

IZB has so far disbursed loans in Mwandi District of Western Province, Mafinga in Northern Province, Chilanga in Lusaka Province, Chipangali in Eastern Province and Mwense in Luapula Province.

1 COMMENT

  1. Only a certain tribe and region are benefitting for obvious reasons . We warned you about the tribal upnd and its tribal leaders. Remember who said only a t0nga can rule upnd?

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