FQM DISHES OUT K220, 000 TO 12 COOPERATIVES

TWELVE cooperatives have received grant funding of K220, 000 each from First Quantum Minerals (FQM) to engage in business activities and promote sustainable economic growth within their communities.

This comes after FQM disbursed K2.6 million to 12 cooperatives this year, building on the support for six cooperatives last year by the company’s Kansanshi Mining operation.

Kansanshi Mining Contracts Manager Pamela Chola said this initiative was a testament to FQM’s dedication to fostering entrepreneurship and enhancing the livelihoods of the communities surrounding its mining operations.

Ms Chola said the mine believed that it would contribute significantly to the creation of employment opportunities within the communities in which they operate by supporting Small and Medium Enterprises (SMEs) and promoting their growth.

“With other corporate social investment in the communities, FQM wants to continue working closely with business-minded people with potential to impact communities,” she said during the handover of cheques this week.

Ms Chola reminded the cooperatives that the funding would only be provided for a year on a quarterly basis and everyone was expected to grow and stand on their own after a year of being supported with the grant.

She said FQM was aware that access to finance remains a significant impediment to SME’s growth and financial constraints were consistently cited as one of the primary obstacles hindering their expansion, hence the support to facilitate access to finance.

“We acknowledge the existing efforts of our community members, many of whom are engaged in farming. However, we want to empower you to grow beyond your current capacities and actualise your dreams.

“This project reflects our belief in the potential of our community members to create sustainable businesses,” Ms Chola said.

And speaking on behalf of Amen Sisters Cooperative, Ms Marvis Ikowa, commended the company for its support, indicating that funds provided would go a long way to support their growth.

“We are not going to be the same; this support will change our lives. We pledge to invest the money wisely and ensure communities also benefit,” Ms Ikowa said.