HH launches empowerment scheme

By Sharon Kunda

President HAKAINDE HICHILEMA has officially launched the Public-Private Collaboration for broadening access to Finance which will see Small and Medium Enterprises and Marketeers have access to affordable finance.

The Collaboration is an initiative between the Citizens Economic Empowerment Commission -CEEC- and ABSA.

Speaking during the launch held in Lusaka today, President HICHILEMA said the Government is working to provide resources for the people so that they can have access to finances such as booster loans for the marketeers.

He said that the Government would like to see more partners coming on board so that the fund can grow from the current 1 billion Kwacha to 5 billion Kwacha.

And President HICHILEMA has congratulated a Zambian Entrepreneur KATONGO MUSONDA who has started manufacturing solar powered stoves with support of ABSA and the Ministry of Small and Medium Enterprises.

He urged Mr. MUSONDA to grow his business so that he can employ more people.

And CEEC Director General MUWE MUNGULE said the key objectives of the collaboration are to provide affordable financial solutions to all districts and to achieve enterprise consolidation by merging homogenous enterprises.

Meanwhile, ABSA Managing Director MIZINGA said that the Bank will provide financing of one billion Kwacha to support SMES.

Ms. MELU said this will provide each cooperative with financing of up to 200,000 Kwacha.