By MILDRED KATONGO  –
ABOUT K150, 000 has been disbursed to more than 1,000 street vendors in Ndola district through a revolving fund being administered by Zampost Microfinance on behalf of the Government.
The ministry of Youth, Sport and Child Development signed an agreement between Zampost Microfinance and Street Vendors Society limited to disburse a revolving fund aimed at empowering traders.
Zampost Microfinance credit and risk manager, Amos Mumba said the exercise to disburse funds commenced on Thursday, adding that more than 1,000 street vendors had so far accessed the money.
Mr Mumba said in an interview yesterday that Zampost Microfinance was still receiving applications from street vendors that were trained, and that by next week they would disburse more money.
He said this was a programme aimed at empowering street vendors, noting that most households in the district were headed by traders.
“We are in a tripartite agreement with the ministry of Youth, Sport and child development and the street vendor’s society.
“We are giving out loans to traders and about K150, 000 has been disbursed to more than 1,000 traders. The exercise is ongoing and we are still receiving applications from street vendors,” he said.
Mr Mumba said it was imperative that street vendors were empowered with capital for them to run their businesses smoothly.
“We have targeted the street vendors because we have observed that most households are headed by traders. So we came in as Zampost Microfinance to help out and reduce poverty levels after Government came up with the scheme,” he said.
He said Zampost Microfinance was also receiving applications from street vendors from Kitwe who would access the funds once the lending institution approved them.