PRESIDENT Hakainde Hichilema says the government embarked on the Public Private Partnership (PPP) as a way of finding solutions to the country’s financial challenges.
President Hichilema notes that the collaboration between the Citizens Economic Empowerment Commission (CEEC), ABSA bank and the Zambia Development Agency (ZDA) is aimed at securing access to affordable finance through initiatives such as the Market Booster Loan.
ZANIS reports that President Hichilema said this during the launch of the Public-Private Collaboration for Broadening Access to Finance in Lusaka.
Earlier, President Hichilema heard that ABSA bank has committed an amount of 1 Billion Kwacha towards the (MSME) sector in the country under the collaboration.
” We knew that there was no money in the treasury and so we embarked on the Public Private Partnership (PPP) as a way of finding solutions. We are here to restore assets for you so that we can support the Market Booster Loan. We can put money on the table and go to ABSA and put money together,” Mr Hichilema explained.
President Hichilema also commended ABSA bank for partnering with the government and supporting its vision of promoting financial inclusion.
The Head of State heard how a 38-year-old man, Katongo Musonda manufactures smart stoves, creating 100 jobs and securing a market with Shoprite.
He has since urged the beneficiaries of the Market Booster Loan to use the funds prudently and contribute to job creation.
Speaking at the same event, CEEC board Chairperson Jason Kazilimani who was represented by CEEC Commissioner Paul Kaluba disclosed that K 153 has so far been disbursed since the launch of the initiative in 2022.
Mr Kazilimani said so far, 94,161 people have benefitted from all the 116 districts in the country.
He has pledged that the commission will ensure the programme is sustained having learnt from its past experiences.
Meanwhile, ABSA Bank Chief Executive Officer Mizinga Melu revealed that cooperatives will each be receiving up to 200,000 Kwacha.
She further disclosed that the bank has also partnered with USAID and secured 10 Million Kwacha meant to support (MSMEs) in the business of solar solutions.
