Zambia News

Mpongwe Finances Smes With Loans Totaling K2.9 Million

19 Small and Medium Enterprises (SMEs) in the district of Mpongwe, on the Copperbelt, have received loans totaling 2.9 million Kwacha from the local administration.

EMMANUEL MASANGA, chair of the Mpongwe District Council, expresses the local government’s expectation that recipients of the cash will expand their businesses and generate jobs.

Since then, Mr. MASANGA has asked those who received the monies to make sure that the loans are repaid in order to open up the funds to other local businesses.

According to ZANIS, Mr. MASANGA was speaking shortly after the money was given to 19 SMEs.

In the meantime, NEBERT MUKWALALA, the chair of the Mpongwe CDF, asked recipients of the cash to set a good example for other potential applicants of the funds.

Additionally, more than 1.3 million Kwacha in CDF funding have been allotted to the Kanchibiya District in Muchinga Province for skill development and secondary school boarding bursaries.

SUNDAY CHANDA, a Kanchibiya Member of Parliament, claims that of the 1.3 million Kwacha, 160,000 Kwacha would be used to pay for secondary boarding school tuition and that the remaining 1.2 million Kwacha will be used to cover costs associated with skill development training.

Many students wanted to be sponsored, but there weren’t enough finances, Mr. Chanda told ZANIS.

Back to top button