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Government urges SMEs to pay back CEEC loans

Minister of Small and Medium Enterprise Development, Elias Mubanga, has urged beneficiaries struggling to pay back funds acquired under the Citizens Economic Empowerment Commission (CEEC) to engage the government and not shun away.

 Mr Mubanga says the government acknowledges the role SMEs play in driving the country’s economic growth and providing employment opportunities especially for youths.

Speaking in an interview with ZANIS, Mr Mubanga emphasised the importance of paying back the loans to ensure sustainability and continued support to SMEs through CEEC financing initiatives.

He said those whose businesses are not doing well should visit the Ministry’s district or provincial centers and will be assisted.

And Mr Mubanga says the government is also actively supporting farmers who have been badly affected by the drought through financial assistance programmes for farmers to acquire irrigation and solar equipment.

He said the government has removed taxes on the importation of solar and irrigation machineries so that farmers can start using irrigation in order to address the effects of climate change.