CEEC Adds to 2023 Empowerment Fund

The Citizens Economic Empowerment Commission (CEEC) has revealed that, after the successes of last year’s projects and their 365 million Kwacha allocation, the government has increased the empowerment fund to 377 million Kwacha in a drive to better fund more initiatives for 2023.

The CEEC Director General, Charles Mungule, disclosed that, in the first month of 2023, the commission had received more than 100,000 loan applications. Mr. Mungule clarified that many of the loans are distributed via provincial employment strategies in order to reduce poverty and improve citizens’ standard of living.

Mr. Mungule broke the excellent news while in Choma district, overseeing a local CEEC employment program.

Not only will the CEEC have a greater fund pool with which to award loans this year, Mr. Mungule explained, but the CEEC will also be altering its policy to have an even more resounding impact on Zambia’s people: “The empowerment program by CEEC is in various sectors and is competititve in nature, therefore, going forward, our institution will prioritise awarding loans to individuals and institutions whose proposals seek to remedy the social economic challenges at grassroot level.”

The Director General also identified the opportunity to promote local industry and thereby accelerate rural industrialisation. He detailed, “We have realised that there is a huge potential for the establishment of industries at local level as most of the production of raw materials is done in rural areas.” The goal of this will be “to empower projects that seek to establish industries in rural areas so that development can be enhanced”.

Southern Province Permanent Secretary, Namaani Monze, has stressed the value in diversifying the sectors being aided by CEEC loans. Dr. Monze emphasised that there exist a variety of value chains in the Southern Province, particularly in the agricultural industry, and that, until now, these value chains have been under-appreciated.

Dr. Monze commented, “We are producing a lot of agricultural and livestock products in this province, however, because of lack of funding opportunities, farmers are limited to selling these products in their raw form.” He was hopeful that the CEEC would “enhance the current loan package to enhance the development of industries”.

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