By HELEN ZULU –
THE Citizens Economic Empowerment Commission (CEEC) will this year disburse K35 million to targeted projects across the country under its Value Chain Development programme which started in 2013.
CEEC director general Likando Mukumbuta said the commission would this year provide funding to cassava projects under the cassava commercialisation initiative which was being supported by the African Development Bank (AfDB).
Mr Mukumbuta said the commission had earmarked to fund 50 projects that had been approved by the board of directors last year under the cassava commercialisation initiative.
He was speaking in an interview in Lusaka yesterday.
“This year we did not call for applications because we were aware that the funding we were going to receive would go to those that had applied in 2016 as you know, last year we did not receive any funding as a commission.
“So out of the money we are supposed to receive this year which is K35 million, we are supposed to provide funding to cassava projects under the cassava commercialisation initiative, our intentions is to fund 50 projects that were approved by the board last year,” Mr Mukumbuta said.
He said under the AfDB funded initiative, the bank was paying for business development services and project management associated with the project like mobilising the farmers and training them while Government contribution was for business loans amounting to K15 million.
Mr Mukumbuta said the commission received 249 applications last year of which 50 had been identified to be viable.
He said the commission had already started disbursing the money so far funding Premiercon Starch Company Limited in Solwezi and Tatwakakulabe in Mansa to a tune of K6 million for two starch processing plants.
“Other projects are going to be producing mealie meal from cassava and cassava flour which will be readily packaged for consumption by the consumers and will be stocked in super markets,” he said.