Government, through the Citizens Economic Empowerment Commission (CEEC), has allocated over One Million Kwacha to empower local business owners, including youths, small and medium enterprises, as well as cooperatives through loans in Lavushimanda District of Muchinga Province.
The funds are aimed at enhancing livelihoods and promoting economic independence in the country.
Minister of Small and Medium Enterprises Development, Mufunelo Malama, says the empowerment programme is designed to benefit communities across both chiefdoms in Lavushimanda.
to the media reports that speaking during a courtesy call on Lavushimanda District Commissioner, Terries Kunda, Mr Malama said the programme has already been implemented in other parts of the province, including Kanchibiya and Mpika Districts.
“My trip here is to empower youths, marketeers and cooperatives. People from both Chief Chiundaponde’s and Chief Mpumba’s chiefdoms will benefit from this programme,” he said.
And, in an interview, Muchinga Province CEEC Finance and Administration Officer, Wilbas Tembo, said only applicants who meet the set requirements will benefit from the loans.
Mr Tembo explained that the empowerment initiative comprises three loan products namely the Marketeer Booster Loan, the Imisepela App facility for youths, and the Busulu Loan.
He highlighted that the selection process will focus on identifying applicants with viable and sustainable businesses, as well as those formally registered under cooperatives.
“What we are doing here in Lavushimanda is to scrutinise applicants to ensure that only those with viable businesses benefit. For the youths, we are also ensuring that their details are properly configured on the Imisepela App,” Mr Tembo said.
He added that the vetting process includes verification with the Credit Reference Bureau (CRB) to assess applicants’ credit history and repayment behaviour.
Mr Tembo further noted that the measure is meant to ensure that the funds are accessed by deserving beneficiaries with the capacity to repay the loans.
He further emphasised the importance of timely repayments, stating that the loans are revolving in nature and meant to benefit more people over time.
And Mupamadzi Ward Development Committee member, Kennedy Mwansa, has welcomed the initiative, describing it as a timely intervention for local entrepreneurs.
“We are grateful for this empowerment programme brought to Mupamadzi through the Minister of Small and Medium Enterprises Development. It will go a long way in improving people’s livelihoods,” Councilor Mwansa said.
Just the right time for government to ” allocate over K1 Million for local businesses”
By the way is it enough?
To go around the voting age public?