The Citizens Economic Empowerment Commission -CEEC- has in the last five days given out more than K2.4m to 450 people under the Busulu loan facility.
CEEC Public Relations and Communication Manager MICHELO MUKATA says the Commission has since inception of the facility distributed K48m to about 5,100 people.
Mr. MUKATA has told ZNBC News in Lusaka that the loan facility is meant to empower Small and Medium Enterprises -SME’s – with funds to expand their businesses.
He says loan recipients will also receive basic financial management and business development training to enable them make wise investment decisions.
And Mr. MUKATA says the Commission has recorded an improvement in loan repayments from 27% last year to 67% this year under the same period.
He says people should pay back their loans so that others can benefit from revolving funds that are ploughed back into the system.
He adds that the Commission will upgrade people who repay loans on time to access larger amounts under different loan facilities.
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