CEEC Disburses K110 Million Loan Facility to Boost Agricultural Enterprises
The Citizens Economic Empowerment Commission (CEEC) has disbursed over K110 million in loan facilities to more than 106 enterprises across Zambia under the Agricultural Mechanisation Model.
This initiative aims to empower beneficiaries to engage in various agricultural cooperatives, such as poultry farming.
CEEC Public Relations and Communications Manager, Michelo Mukata, shared this development with the Zambia News and Information Services (ZANIS) during a visit to M and H Farms in Chilanga District. M and H Farms, which received a loan facility and specializes in poultry farming, currently rears over 10,000 chickens.
“The visit to this facility has brought out an impressive story because of the prudent utilization of the fund the enterprise received. We are able to see where the resources have been channeled to,” Mr. Mukata stated.
He praised the enterprise as a shining example of success, highlighting its ability to purchase affordable agricultural equipment such as automated feeders and drinkers, which have significantly boosted productivity.
However, Mr. Mukata emphasized the importance of beneficiaries repaying their loan facilities to ensure that others can also benefit from the funds.
M and H Farms Manager, Purity Habeenzu, disclosed that the farm received a K1.5 million loan under the Agriculture Mechanisation Facility.
Starting with 300 chickens, the farm has now grown to house over 10,000 birds, promoting self-reliance. Ms. Habeenzu explained that the farm has used its profits to purchase mechanized equipment, reducing chicken mortality rates.
“We saw an advert by CEEC giving out loans and immediately applied for K1.5 million to procure automated feeders, brooders, and drinkers. Now I can safely say our business has expanded, and we supply our chickens to government institutions,” Ms. Habeenzu said.
She further noted that the expanded business has not only created jobs but also allowed the farm to engage in corporate social responsibilities, such as road repairs. The cooperative is also planning to venture into chicken processing, highlighting the broader economic impact of the CEEC loan facility.
