THE Citizens Economic Empowerment Commission (CEEC) has so far disbursed 7,062 business loans under the Busulu loan product valued at over K72 million country wide.
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The product which was launched in April 2023 has a bias towards women and youths in peri urban areas to enable them have access to affordable financing.
CEEC Public Relations and Communications Manager, Michelo Mukata said over K34 million has been given to 3,482 youths who applied for the funds while 2,516 women benefitted over K26 million.
“As CEEC in terms of disbursements for the Busulu loan product which we introduced in April, we have managed to disburse 7,062 business loans amounting to K72, 362, 826,” he said.
Mr Mukata said the commission is happy with the turnout of applicants among women and youths who are considered marginalised.
“We are happy as a commission that we have been able to provide financing to 84 percent of women and young people who are largely considered marginalised,” he said.
Meanwhile, Mr Mukata told ZANIS in Solwezi that about 537 women and youths in North-western province have so far benefitted from the business loans. He said the beneficiaries of the loans have received amounts ranging between K5, 000 and K50, 000.
“Of the 7,062 loans that we have so far disbursed as a commission 537 have gone to North-Western Province with Solwezi district accounting for 131,” he said.
Mr Mukata further called on beneficiaries of the loans to responsibly use the money and grow their businesses as well as commit to repay the facilities being provided to allow others benefit.
“Our word as a commission is to encourage all those that have received financing to utilise the money responsibly and commit to pay back the facilities we are providing as we have a lot of citizens in line waiting,” Mr. Mukata said.
He said the commission can only meet the mandate of providing affordable financing to many citizens if the ones that have benefitted pay back.
– ZANIS
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