The Zambia National Marketeers Credit Association (ZANAMACA) has called for enhanced collaboration with the Citizens Economic Empowerment Commission (CEEC) and government to ensure the recovery of marketeer booster loans, following the suspension of the programme due to alarmingly low repayment rates.
This comes after the Ministry of Small and Medium Enterprise Development revealed that out of the K1.8 million disbursed as marketeer booster loans in the last quarter of 2024, only K108,000 has been recovered, representing just 6% of the total amount loaned out.
Speaking in an interview with RCV News in Lusaka today, ZANAMACA President, Mupila Kameya, expressed concern over the suspension of the programme, warning that such a move risks reversing the gains made in empowering informal traders, particularly women and youth.
“The Association understand the government’s decision to suspend the disbursement of marketeer booster loans due to low repayment, however, it believes that this challenge presents an opportunity for government, CEEC, and ZANAMACA, to collaborate and implement a coordinated loan recovery strategy that also includes beneficiary identification,” said Mr. Kameya.
Mr. Kameya said the Association has been waiting for response on this call for about 3 years now, stating that this collaboration will play a pivotal role in the money recovery process that will also enable more marketeers to benefit from the booster loans.
By Margaret Mwanza
