Friday, December 21, 2007

Kitwe marketeers in loan bonanza

Kitwe marketeers in loan bonanza
By Zumani Katasefa
Friday December 21, 2007 [03:00]

PELTON Finance Limited has given out K500 million as loans to over 100 marketeers at Kitwe’s Chisokone market. Zambia National Marketeers Association (ZANAMA) chairman general Elvis Nkandu disclosed this in an interview. Nkandu said his association helped the marketeers to access the loans from the firm by linking them to the company.

“Five hundred million kwacha has been extended to our markets to help them improve their business that they are already engaged in. These marketeers who are over 100 were linked to this organisation by ZANAMA,” Nkandu said.

Nkandu said his association would strive to help marketeers improve their businesses by making sure that they had access to financial institutions which would help them with finances.

He said marketeers would be required to pay back a certain amount daily towards clearing their loans.

Nkandu also bemoaned lack of government protection for people in the informal sector. And Nkandu complained that his association had not been invited for the National Constitutional Conference (NCC).

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