(Times of Zambia)-The Citizen Economic and Empowerment Commission (CEEC) has partnered with Airtel Money Zambia to facilitate the process of disbursing and receiving repayments of business loans.
CEEC director general Muwe Mungule said through the Airtel Money platform, the commission would receive loan repayments for micro- financing such as the marketeers’ booster loans and for project finance through several other CEBC empowerment products.
Mr Mungule said through loan repayments, a sustainable revolving fund was expected to be created that would enable other citizens to benefit from the empowerment fund, access loans from CEEC and make meaningful contribution to the country’s economic development
He said in a statement issued by public relations and communications manager, Michelo Mukata during the signing ceremony that since November 2022, CEEC has so far been able to disburse over K70 million to 30,000 marketeer beneficiaries across the country.
Dr Mungule said the partnership has provided real value by enabling CEEC clients on the Airtel network to repay their business loans through a secure, fast and convenient platform and the commission wants to ensure that it increases its technology touch points. “We are certainly delighted with this partnership with Airtel Money as it gives CEEC clients, not only marketeers, a modern day experience with CEEC. Going forward, the Commission would like to increase its technology touch points for better service delivery”, he said.
Airtel Mobile country director, Andrew Chuma said that the Airtel Money business had seen growth in many aspects.
Mr Chuma said Airtel Money Zambia was happy to contribute to the National Financial Inclusion Strategy which supports institutions to leverage on digital technologies to reduce costs and expand financial services to both the formal and informal sectors. He said the partnership was important because it supported the government’s agenda in the 8th National Development Plan to increase access to affordable financial services.