CEEC to revise its strategy
November 24, 2008
The Citizens Economic Empowerment Commission (CEEC) is exploring various options to ensure that all citizens have access to the empowerment fund.
CEEC Director General Mable Mungomba told ZANIS in an interview in Lusaka today that the move has been necessitated by the absence of commercial banks in some districts to facilitate access and distribution of the funds.
Ms. Mungomba said some options so far discussed are the use of micro-finance institutions, District Councils and Postal services.
She explained that each avenue is being assessed for its merits adding that the Commission has since tasked a team of staff to travel to various districts without banks to make an on-the-ground assessment on the best and most efficient strategy for citizens’ access to the funds.
A financial inclusiveness survey undertaken by CEEF has revealed that 21 districts operate without banking services.
Ms. Mungomba’s was responding to reports that funds meant for Citizens Economic and Empowerment Commission (CEEC) for Chavuma District are lying idle at the Zambia National Commercial Bank in Solwezi because Chavuma District does not have a commercial bank to facilitate access and distribution of the funds.
Chavuma District Commissioner Frobisher Fulayi, who is also Chavuma District CEEC Chairman, recently launched a passionate appeal to the CEEC to review the system of accessing and distributing the funds as some districts lack commercial banks.
CEEC funds are presently accessed and distributed exclusively through commercial banks.
Categories: Economy
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