By MILDRED KATONGO –
ABOUT 2,500 vendors and marketeers on the Copperbelt have accessed K1.5 million through the Presidential Loan Initiative aimed at boosting their businesses.
President Edgar Lungu has given K1.6 million, which is a revolving fund, to vendors and marketeers to help grow and sustain their businesses.
Copperbelt Foundation for Vendors and Traders president Jack Kalemba said almost all the districts in the province had accessed the funds with the latest being Luanshya and Mpongwe districts.
Mr Kalemba said in Luanshya that more than 200 people had applied to access the money and more were interested in the scheme.
“The fund has so far empowered about 2, 500 marketeers on the Copperbelt of which K1.5 million has been spent. The latest districts to access the fund are Luanshya and Mpongwe,” he said.
He said the money was received well and people appreciated the initiative.
Mr Kalemba, however, urged the vendors and marketeers to pay back the money as it was a revolving fund aimed at empowering all the traders.
He said traders needed to understand that money was meant to empower all traders and not intended for a few individuals.
“The main purpose of having a revolving fund is to empower everyone. Once a trader accesses the fund, they are required to pay back to help others access the fund,” he said.
He said genuine traders should access the fund and pay back to allow others be empowered.
