You are currently viewing CEEC LOAN BENEFICIARIES TO BE GIVEN NEW REPAYMENT SCHEDULES

CEEC LOAN BENEFICIARIES TO BE GIVEN NEW REPAYMENT SCHEDULES

Small and Medium Enterprise Minister Elias Mubanga says all those who got loans from Citizens Economic Empowerment Commission (CEEC) and other lending institutions under his Ministry and failed to pay back due to last season’s drought must engage his Ministry this month and revise the new methods of repayments.

Speaking in Kawambwa, Mr Mubanga said government is aware of the effects of the drought which hit the country and small and medium entrepreneurs were not spared due to power outages.

The Minister further disclosed that his Ministry’s priority for this year is on rural enterprise development.

“A loan is a loan. Those beneficiaries who were genuinely affected by the drought must quickly visit the ministry so that we can restructure how the loans will be paid back,” said the Minister.

He added that government has initiated a lot of entrepreneurship in rural areas such as increase in agriculture inputs and social cash transfer which must help people come out of poverty.

On mining, the Minister explained that people should formalise their mining activities by first forming cooperatives and be linked to partners with the expertise.

“Many young people are dying because they engage in illegal mining activities. Having a cooperative certificate is not a passport to engage in illegal mining but must be linked to the ministry of mines to work with other investors,” he said.