CEEC only funded 200 projects in 2009
The Citizens Economic Empowerment Commission (CEEC) approved only 10 per cent of at least 3000 applications it received in the year 2009.
CEEC Director of Empowerment, Ricardo Lupenga, said at least 300 projects were approved from over 3000 applicants last year.
Mr. Lupenga told ZANIS in an interview in Kabwe today that out of the over 300 approved projects, 202 projects have been funded.
He said the commission was closely monitoring the funded projects, adding that they were so far doing very well.
He said CEEC will endeavor to provide financial assistance to all activities that support business linkages and growth in Zambia.
Mr. Lupenga further said the commission would ensure that all approved projects utilized its funds wisely and profitably.
Meanwhile, Mr. Lupenga has explained that CEEC approved only a few applications because they were the only ones that had convincing proposals for viable projects.
He has since appealed to the members of public not to shun CEEC programmes because the commission was an entity that was spearheading businesses growth in the country.
Mr. Lupenga also urged youths to make use of the empowerment programmes which the CEEC was offering in order to improve their livelihood.
The Citizens Economic Empowerment Fund (CEEF) was established under the CEEC act number nine of 2006 to support the development of broad based economic empowerment programmes.
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How much interest did Zambia make while holding off on these projects and earning interest from funds meant to be distributed?
This fund needs to be audited transparently.
logically speaking it’s not possible to fund 100% of applicants or for all applications to be practical or viable projects. we need more info to know what type of projects they’ve funded as well as seeing them before and after funding.
And i guess a greater percentage of the approved ones are 4 politicians obviously under difarent names 4rom the actual beneficiariez
Its not about approving and funding each application or proposal. But is it viable and worth funding if it was approved and recover the monies. We need to be prudent in the way we use public funds. In the past, lots of resources were wasted because of not appraising applications. I recall, between 1992 to 1996, government bought hammermills for women club under the so called recovery programme. But did we recover the money from this so called programme, nope and wasted.
I feel the CEEC is doing something recommendable and would not like them to relent and get compromised because of the negative comments said about its operations. We need to be serious with our hard paid tax and hold pipo accountable if Zambia is to develop.