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Wednesday, February 8, 2023
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HomeNewsCEEC UNVEILS NEW EMPOWERMENT PRODUCTS

CEEC UNVEILS NEW EMPOWERMENT PRODUCTS

The Citizens Economic Empowerment Commission (CEEC) has unveiled seven empowerment products valued at K365 million targeting citizens, MSMEs and co operative enterprises.

According to the press release made available on CEEC website the empowerment products are in line with the aspirations of the development outcomes of the Eighth (8th) National Development Plan to have an industrialised and diversified economy, enhanced citizenry participation in the economy, competitive private sector, improved education and skills development and reduced poverty vulnerability and inequalities.

 

“It is envisaged that the new products will create an estimated 75,000 jobs in its first year of implementation; August, 2022 to 31 December, 2022,” it said.

Among the new empowerment products is the Marketeers Boaster Loan and Marketeers Boaster Loan (Bulk Storage Facility) the two empowerment are expected to create over 10, 000 jobs at the interest rate of 12 percent, threshold of K500 – K5,000 and K5,000 to K 500, 000 respectively.

It added that Trade Finance Facility for MSMES and Co-operative and Light Manufacturing Finance Loan are expected to create 7, 000 and 15, 000 jobs respectively at the threshold of K50, 000 to K2,000,00 for Trade Finance Facility for MSMES and Co-operative and K100, 000 to K2,000,000 for Light Manufacturing Finance Loan.

“The Commission has also set aside K83,950,000 to operationalise the eight Industrial Yards located in Kafue (LS-MFEZ), Solwezi, Chipata, Kasama, Mansa, Ndola, Kitwe and Mongu. A Call for Applications to access these products will soon be issued,” it said.

This is according to the statement Issued by CEEC PR and Communications Unit.

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