CDF LOAN BENEFICIARIES URGED TO PAY BACK ON TIME

LUMEZI Town Council Chairperson, Oliver Mwale, has urged beneficiaries of the Constituency Development Funds (CDF) loans to pay back the funds on time.

Mr Mwale says the beneficiaries have to be mindful that the loans should be paid back on time so that more applicants can benefit from the Fund.

ZANIS reports that the council chairperson was speaking during the monitoring exercise of beneficiaries of loans from the 2022 CDF allocation.

“The CDF loans and grants have to be paid back and you should bear in mind that the money goes in a revolving fund which can help other people in Lumezi to benefit as well,” he said.

Mr Mwale expressed happiness that beneficiaries have shown commitment by sticking to their original business plans.

“The beneficiaries have impressed us with their commitment and that a number of them have not changed their business plans after receiving the funds, which is good,” he said.

And Tiyendenge Women’s Club Chairperson, Jessy Msimuko, has commended the Government for creating access to finance through the CDF initiative.

Ms Msimuko said the funds have assisted to improve the livelihoods of 22 committee members with food security at household level.

She said the club received a loan of K200, 000 to procure a hammer mill and an oil expeller.

Ms. Msimuko said the business has currently created employment for three local people adding that there is potential to generate enough income to help the club to pay back the loan on time.

“We received K200,000 for us to begin a business of hammer mill and oil expeller and so far, the business is doing very well and we will manage to pay back the loan,” she said.

Meanwhile, King Vitwana Academy Secondary School proprietor, Janet Mvula, thanked the Government for extending CDF loans to the private sector.

Ms. Mvula said the loan will enable the schools to offer laboratory and computer lessons to pupils which they have been lacking for some time now.

She revealed that the school received a loan of K100, 000 from CDF meant for the construction of a 1 x 4 classroom block.

ZANIS