CEEC Committed to Enhancing Zambian Economic Participation, Says Mungule
The Citizens Economic Empowerment Commission (CEEC) has reaffirmed its commitment to increasing Zambian citizens’ participation in all sectors of the economy.
Speaking during a courtesy call on the Lusaka Province Deputy Permanent Secretary’s office, CEEC Director General, Dr. Muwe Mungule expressed concern over the low involvement of Zambians as owners of economic assets.
Dr. Mungule emphasized that one of the Commission’s main objectives is to align with the government’s vision of boosting Zambian participation in economic activities.
“The strategy is to create sustainable, high-value enterprises that are run and owned by Zambians. This is key to embedding Zambians’ participation across different sectors of the economy,” Dr. Mungule said. He pointed out that the contribution of the Small and Medium Enterprises (SME) sector to Zambia’s GDP should be higher than it currently is.
To address this, the CEEC is implementing tailored loan products aimed at empowering SMEs. These initiatives include the merging of homogenous enterprises, joint ventures with foreign investors, enterprise pitching, solar marketeer cooperatives for local markets, and solar power solutions for standalone salons and barbershops.
The solar initiatives specifically target businesses in Lusaka and the Copperbelt Provinces to help them mitigate power shortages and continue operating smoothly.
Lusaka Province Deputy Permanent Secretary, Alex Mapushi, welcomed the CEEC’s efforts, particularly those that support marketeers, calling them timely and crucial for the informal sector, which makes up a large portion of the economy.
He expressed interest in seeing the Commission extend its support to small businesses struggling with access to financing. Additionally, he called for specialized financial products tailored to the needs of industries like welding, which face significant operational challenges.
Mr. Mapushi pledged his office’s support for the CEEC’s initiatives, recognizing their importance not only for Lusaka Province but for Zambia’s overall economic growth and development.
