THE Citizens Economic Empowerment Commission (CEEC) is set to finance the setting up of 90 new factories in 42 districts across the country.
CEEC director general Likando Mukumbuta said the decision was aimed at promoting diversification and providing a strong foundation for industrialisation in Zambia.
Mr Mukumbuta said in an interview that the factories would be involved in the manufacturing of various products.
“We are excited about the National Budget because it will help us with our aim to spur industrialisation in Zambia. We are going full scale in setting up the new factories in 42 districts,” he said.
Mr Mukumbuta said the Budget announcement by Finance Minister Alexander Chikwanda last Friday would help in wealth creation because it focussed on economic diversification.
He said the Budget provided opportunities for his organisation  to boost growth of upcoming industries.
Mr Mukumbuta said small and medium enterprises had been offered opportunities for growth because the budget focussed on economic diversification.
Meanwhile, MMD Chilanga Member of Parliament Keith Mukata has said that the National Budget was a robust one that focused on economic diversification from copper.
Mr Mukata who is Justice Deputy Minister, said economic diversification was long overdue and the economy needed to refocus on agriculture and rekindling the small and medium enterprises.
He, however, noted that the onus was on Zambians to participate in economic diversification.
“We need to match the talk by all of us doing our part. We need todiversify the economy because that is the way to go,” Mr Mukata said.
He said he was happy that the National Budget had given incentives tothe agriculture sector because for Chilanga district had hugepotential for agriculture.