The Citizens Economic Empowerment Commission, CEEC, has awarded 554 out of 1,654 applicants with agricultural equipment valued at a total cost of K163 million.
The equipment, which is in form of loans include agriculture machinery, irrigation systems, solar equipment and gensets among others to empower business-oriented groups, associations, clubs and cooperatives.
Speaking during the handover ceremony in Lusaka today, CEEC Board Chairperson Jason Kazilimani said this is in response to the Presidential directive to provide access to finance for Micro Small and Medium Enterprises, MSME’s and business-oriented groups.
“The empowerment will not only help the beneficiaries but the country at large to mitigate the impact of loadshedding and drought on small businesses,” said Mr. Kazilimani.
He has further implored the recipients to use the resources responsibly and engage in productive sectors that will enable them to repay their loans within the stipulated period.
And Minister of Small and Medium Enterprise Development Elias Mubanga has commended CEEC for the progress in empowering Zambians, stating that the move will alleviate food insecurity, reduce the cost of mealie-meal and create employment opportunities in rural areas where maize is produced.
“This investment will catalyze progress, create employment opportunities and contribute to the country’s socio-economic development”, said Mr. Mubanga.
Meanwhile a beneficiary representative, Peggy Mwambazi has thanked CEEC and government for what she termed as timely empowerment and further encouraged other entrepreneurs to apply for the initiative to help boost their businesses.
By Margaret Mwanza
