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MORE than K90 million has been disbursed by the Citizen Economic Empowerment Commission (CEEC) of Zambia to the marketeers under the Marketeer Booster loan.
This facility was launched in Zambia’s capital city Lusaka by President Hakainde Hichilema on November 12, 2022.
So far, the Commission had disbursed K90, 244, 400 to 32,407 marketeers countrywide, meant to assist them to scale their businesses.
In an update on the empowerment fund on Monday, December 5, 2022, CEEC director general Muwe Mungule said the Commission had made significant progress in disbursing K171, 500, 000 in business loans to 75, 000 marketeers countrywide.
He also assured successful applicants of the Marketeer Booster loan and its other loan products that CEEC is committed to making disbursements that have successfully undergone due diligence.
The Commission, Mungule, said they have been undertaking due diligence on successful applicants and this has necessitated upward or downward adjustments on some loan amount requests.
He however indicated that the allocation of loans to each marketer applicant has been maintained in the range of K500 to K5, 000 totaling K171, 500, 000.
This trend would also be seen after a full analysis of the other loan products.
“This, therefore, means that CEEC would be able to make more disbursements to more targeted citizens, MSMEs and cooperative enterprises. Thus, an appeal is also being made to look at the adjustments as a favourable move meant to spread out the Empowerment Fund to the many in need,” Mungule said.
Delayed or non-verification of contact details would result in forfeiting of the loan applied for.
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