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CEEC releases K1.6 billion for palm plant PDF Print E-mail
Thursday, 13 October 2011 07:39
THE Citizens Economic Empowerment Commission (CEEC) in Luapula province has released more than K1.6 billion for the establishment of a palm processing plant and 56 new projects  which include five Small and Medium Enterprises (SMEs) in the manufacturing sector.  Provincial empowerment coordinator Martha Sanjobo said in Mansa yesterday that the palm oil processing facility which was based in Kawambwa was one of the six SMEs funded by CEEC this  year.

She said K49.5 million had been released for the purchase of equipment from China. The palm oil manufacturing facility which would initially recruit about 10 people in its initial stages would start extracting cooking oil and material needed for soap manufacturing.

She said other projects that have been funded are the expansion of a sausage manufacturing enterprise in Nchelenge at a cost of K43 million, a honey production women cooperative at a cost of K50 million and a candle manufacturing company.

Ms Sanjobo said the maximum amount of money being given to each of the projects by the provincial empowerment office was K50 million. Others funded are 15 agriculture sector business projects which include maize and vegetable growing in different parts of the province.

In the education sector, 15 projects which include expansion of a private school have been funded.

Ms Sanjobo said CEEC funded three projects in the tourism sector which include guest houses refurbishment. The CEEC has funded the construction of a bakery at Musonda Falls and a children’s amusement park in Mansa.

About 24 entities in the trading sector including four market projects benefiting 415 traders have been given K50 million each. The beneficiaries include new site, Chiliyapa, Senama markets in Mansa and Mwamfuli market in Samfya.

One project each in the Information Communication Technology (ICT) sector, the opening of an internet café in Mansa has been funded and in the forestry sector, a honey production women cooperative has received funding from the CEEC.   In the fishing sector, the Mwaba Mukupa Cooperative was funded with K250 million which was facilitated for by the CEEC head office because it was above the K50million.

The K250 was being used among 15 fish farms for the purchase of a refrigeration truck, construction of ponds and the purchase of small fish for planting.CEEC charges an interest of 12 percent on all the loans it offers to individuals or groups of Zambians seeking business empowerment.