4,000 benefit from ADB $57 million grant

THE African Development bank has released US$57 million to the Citizens Economic Empowerment Commission for industrlisation in the aquaculture and cassava value chain sectors, in that last one and a half years.

Director General Likando Mukumbuta said over 4000 farmers have so far benefited from the cassava value chain project which will see the production of glue and other products from cassava.

Speaking when he appeared at the parliamentary committee on budgets and estimates in Lusaka on Friday, he appealed to the committee to spearhead the timely allocation of funds to the commission.

Mr. Mukumbuta lamented that out of the over K716 million previously allocated to the commission, only 40 percent was released to them.

“Industrlisation is the key driver to the growth of the economy and this has to be reflected by the amount of money the commission gets.”

“We need to ensure that we support industrlisation because that is the only way we can empower citizens and create employment,” he said. He further said the commission by the end of 2017 managed to create 27,000 jobs adding that with more funding this number could double.

Meanwhile earlier in the week the commission announced that they have so far dispersed over K121 million to fund 1,652 manufacturing projects as part of the Value Chain Development Programme.

Mr. Mukumbuta said the value chain project has so far reached 58 districts of Zambia.

The Programme which is being rolled out in all provinces since 2013 has so far funded 1,652 Zambian owned projects.

He revealed that 92% of the projects are being implemented in rural areas where Zambians have taken up many businesses such as mango processing in Mongu and cotton processing in Mumbwa, peanut butter processing in Petauke and water-bottling in Zimba.

He said others have invested in stock feed manufacturing in Kasama.