Over 7,000 business loans have reportedly been disbursed by the Citizens Economic Empowerment Commission (CEEC) to beneficiaries countrywide under the Busulu loan product.
Launched in April 2023, the Busulu loan, has a bias towards women and youths in peri-urban areas to enable them have access to affordable financing.
CEEC Public Relations and Communications Manager, Michelo Mukata, told journalists in Solwezi on Saturday that the commission had so far disbursed 7,062 business loans under the Busulu loan product valued at over K72 million country wide.
“Over K34 million has been given to 3,482 youths who applied for the funds while 2,516 women benefitted over K26 million.
“As CEEC in terms of disbursements for the Busulu loan product which we introduced in April, we have managed to disburse 7,062 business loans amounting to K72, 362, 826,” Mukata said.
He said the commission was happy with the turnout of applicants among women and youths who were considered marginalised.
“We are happy as a commission that we have been able to provide financing to 84 percent of women and young people who are largely considered marginalised,” he said.
He noted that about 537 women and youths in North-western province had so far benefitted from the business loans.
Mukata explained that the beneficiaries of the loans had received amounts ranging between K5,000 and K50,000.
“Of the 7,062 loans that we have so far disbursed as a commission 537 have gone to North-Western Province with Solwezi district accounting for 131,” he said.
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