Agriculture sector gets lion’s share of CEEC funds

Government disbursed over K49 million in form of loans to the Citizens Economic Empowerment Commission (CEEC) in 2013 and 2014.

Minister of Commerce, Trade and Industry Margaret Mwanakatwe disclosed in parliament that her ministry disbursed a total of K49, 399, 267 to key sectors of the economy in two years.

She named some of the beneficiaries of the CEEC funds as the agriculture sector, which obtained K42million, tourism K2.8million and education K648, 000 among others.

Ms. Mwanakatwe told parliament that the recovery rate of the loans has since doubled from 40 percent that time in 2013 to 80 percent today.

“Track recovery of CEEC funds was poor that time but it is progressing on well now,” she said.

She further disclosed that her office had an audience with the Minister of Finance Alexander Chikwanda and CEEC officials on strengthening the Industrial Development Corporation (IDC), which she said was the vehicle of transforming Zambia’s economy. 

"The programme has not failed. We have had meetings with my colleague from Finance Mr. Chikwanda and CEEC officials to ensure that positive results are yielded," Ms. Mwanakatwe explained.

The minister was responding to a question raised by Lubansenshi Independent MP Patrick  Mucheleka who wanted to find out how much money was disbursed in form of loans by the CEEC in 2013 and 2014 and which sectors were funded.
Meanwhile, Deputy Speaker of the National Assembly Mkhondo Lungu has directed Local Government and Housing Minister John Phiri to issue a ministerial statement next week on the disbursement of the 2015 Constituency Development Fund (CDF) to some councils who have not yet benefited.

Mr. Lungu issued the directive following a point of order raised by MMD Chadiza MP Allan Mbewe who lamented that Chadiza District Council has not yet gotten the CDF for this year.