CEEC selects applications for funding

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CEEC selects applications for funding
Lusaka, Jul 18/13, ZANIS — The Citizens Economic Empowerment Commission (CEEC) has selected applications for funding in 2013.

This is in line with the rural industrialisation strategy of the Ministry of Commerce, Trade and Industry.

Head of Public Relations and Communications, Glenda Masebe, said the budget allocation for each province is K10 million out of which three   districts in each province will be funded with K3.3 million each.

Ms Masebe said this in a statement released to ZANIS in Lusaka today.

She explained that in each district, the commission will fund trading, processing and marketing projects, adding that so far the Commission has received K25 million from the Ministry of Finance.

Ms Masebe noted that the Commission has also allocated the same initial amount to processing projects to ensure each district benefits from new factories.

She further indicated that the Commission has so far selected and written to 94 applicants with processing projects.

“This, therefore, means that on average, three processing projects are being funded in each district. For example in Kasama, the Commission is funding four factories, in Mungwi,  4, Petauke, 5, Mambwe, 2, Kabwe,3, Mumbwa, 1, Sesheke, 3, Kaoma, 1, Lufwanyama, 6, Luanshya, 1 and so on and so forth,” she explained.

Ms Masebe, however, added that the Commission awaits more funds to be released by the Ministry of Finance this month and August this year.

“The funds will go towards other projects such as in trading and transport. When the Commission receives funding, a total of 1,600 projects will be funded throughout the country,” Ms Masebe noted.

She said on average, the Commission will fund 53 projects in each district while 58 projects have been selected for funding in Kasama District.