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CEEC eyes K10 billion BoZ financing

THE Citizens Economic Empowerment Commission (CEEC) will soon submit a proposal to the Bank of Zambia (BoZ) for funding, CEEC director general, Lukando Mukumbuta has said.
Mr Mukumbuta said CEEC had received thousands of applications from citizens asking for financial capital but had not been too responsive because of resource constraints.
He however said that CEEC would submit a proposal for consideration for the K10 billion that had been given to the Central Bank for empowerment purposes.
Mr Mukumbuta said CEEC had just completed the construction of industrial yards which would be made available to citizens that would want to venture in manufacturing or agro-processing.
He said the main challenge had been finding capital for the many applicants who were interested but now would be easier with available funds.
Mr Mukumbuta hailed the Central Bank and Ministry of Finance for the K10 billion that had been injected in the Zambian economy.
He said the money had come at the right time now that CEEC had completed the construction of the industrial yards that would help in empowering citizens amid the Covid-19 pandemic.
Mr Mukumbuta said the commission would prioritize both rural and urban entrepreneurship.
“The gesture by the Central Bank has really come at the right time when we have a lot of applications on our table that need funding.
“As a commission we have completed the construction of industrial yards at a cost of 200 million kwacha. And we already have we come up with a proposal that will be submitted to the central bank next week,” he said.
And Mr Mukumbuta has encouraged Zambians with brilliant innovations and good business proposals to apply for support from CEEC.
Mr Mukumbuta said CEEC had the best conditions for clients with annual interests pegged at 12 percent per annum.

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