Government is contemplating on taking legal action against individuals and entities who have defaulted on loans obtained from the Citizens Economic Empowerment Commission -CEEC.
The CEEC recently published the names of individuals and entities that have defaulted on loans they obtained from the Commission.
And in an interview with ZNBC news in Kitwe, Small and Medium Enterprise Minister ELIAS MUBANGA said the government will soon embark on grabbing collateral and taking legal means to recover monies from defaulters under CEEC loans.
He, however, disclosed that the Commission has recorded an increase in loan recovery from clients from 25 percent in 2021 to over 62 percent as of August this year.
Mr. MUBANGA encouraged Zambians to change their mindset especially when they obtain loans from the government.
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