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The Citizen Economic Empowerment Commission (CEEC) claims the new strategic focus to include traders in the empowerment structure has created 100,000 jobs in the first quarter of 2023.
Commission spokesperson, Michelo Mukata, stated in an interview at the Zambia International Trade Fair in Ndola on Monday that the interventions by CEEC were changing lives.
“We have created 100,000 jobs in the first quarter of 2023 loan products introduced recently by the commission,” Mukata said.
He said over K150 million had gone to about 72,000 traders countrywide, while under the Busulu loan product, the commission has so far disbursed K48.4 million benefiting around 5,161 individuals and companies.
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Mukata also said K37.4 million had gone to 227 cooperatives across the country while a total of K420.4 million had been disbursed to 421 small and medium size enterprises across the country.
He said the overall recovery rate was around 61 percent as he hopes that by the end of the targeted 84 percent recovery rate would be achieved following the incorporation of mobile repayment.
Mukata said the commission would continue pushing the country’s economic agenda by providing access to affordable financing to individuals ,companies and cooperatives .
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