100 cooperatives in Luampa District have completed a Constituency Development Fund (CDF) financial literacy training programme sponsored by Luampa Member of Parliament Makozo Chikote.
Mr Chikote, who is also Minister of Energy, emphasised the importance of equipping cooperatives and entrepreneurs with essential business skills prior to accessing CDF grants and loans, which are intended to enhance their operations.
Speaking during a ceremony where he presented certificates to participants, Mr Chikote highlighted concerns regarding the ineffective use of CDF resources, noting that some recipients of loans and grants have not achieved tangible results.
He expressed alarm over reports of cooperative members intimidating weaker members after receiving funds, underscoring the need for responsible management of CDF resources.
Mr Chikote said he engaged Africa Telecommunication24 consultants to help cooperatives improve their business after accessing various financial empowerments from the government.
“I would like to commend the UPND government for its significant support for small businesses, contrasting it with previous administrations that did not prioritise such initiatives,” he said.
Africa Telecommunication24 Coordinator, Lonely Tatila reported that their organisation has trained the highest number of cooperatives in financial literacy in Luampa, asserting that the knowledge gained will significantly transform participants’ livelihoods.
“This training programme aims to transform business operations fundamentally, attendees acquired essential insights and skills that are expected to improve their overall performance,” Mr Tatila said.
He said applying the strategies taught during the sessions, cooperatives can realise substantial growth and increased efficiency.
“This initiative promises to be a game-changer for those looking to elevate their operational capabilities,” Mr Tatila said.
Participants voiced their appreciation for President Hakainde Hichilema’s efforts to make CDF accessible to all Zambians, particularly in rural communities.
Chilombo Kaputula, a participant, referred to CDF as a life-changing opportunity.
The attendees also thanked the Member of Parliament for his personal investment in their financial literacy training, viewing it as a demonstration of commitment to business development in the area.
