Saturday, February 20, 2010

Don’t be used by foreigners in accessing CEEC funds - Solwezi DC

Don’t be used by foreigners in accessing CEEC funds - Solwezi DC
By Kabanda Chulu in Solwezi
Sat 20 Feb. 2010, 03:00 CAT

SOLWEZI District commissioner Frobisher Fulayi has warned Zambians not be used as ‘fronts’ by foreigners in accessing funds from the Citizen Economic Empowerment Commission (CEEC).

And CEEC director general Mable Mung’omba has advised people accessing the empowerment fund to stay focused since business success does not happen overnight.

During commissioning and monitoring of various projects funded by the CEEC on Thursday, Fulayi said the funds were aimed at reducing poverty levels in the country as well as giving people an opportunity to enhance their livelihoods.

“We challenge people to take advantage of these funds and explore the immense potential which this province has in terms of natural resources and the growth in mining activities is giving an opportunity for other sectors to grow such as supplying goods and also skills training like schools,” Fulayi said.

“CEEC will continue developing various products so that the funds go in the right direction of empowering citizens but we are warning people not to be used as fronts by foreigners to access these funds. We are not against joint ventures but people should be careful to avoid being pushed out after accessing the funds and companies become successful.”

And Mung’omba said sticking to a business plan was important in any business environment.
“Some people are struggling to pay back the loans because they are busy diverting money obtained from CEEC to invest in something they wrongly think that will make quick returns for them to pay back,” Mung’omba said.

“But put money on a project you intend to do and stay focused because business success does not happen overnight and we are advising people to stick to their business plans. For example, others when they hear that it is lucrative to trade in goats in the DR Congo they want to go there.

If they hear that rice business is booming in Angola, they want to get there but businesses should not be run like this since things do not happen this way.”

She commended the proprietors of Hanshel Girls High School which got K617 million and Sunrise Milling which got K243 million, for showing commitment and determination to implement their projects.

“They have showed clear demonstration and commitment and their repayments are on track and we will not have reasons to say no when they ask for more funds to expand since they have shown commitment and we only gave them working capital because they already had established structures,” said Mung’omba.

Out of the K10 billion budgetary allocations to the North Western Province, the CEEC has disbursed about K5 billion to finance 19 projects, which Mung’omba and her team are now monitoring and commissioning.

Labels: ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home