Kanchibiya Member of Parliament Sunday Chanda has commended President Hakainde Hichilema for increasing Constituency Development Fund (CDF) adding that it is transforming people’s livelihoods.
Mr. Chanda said this during the disbursement of 2022 CDF loans amounting to K2.2 million which has been given to 44 cooperatives, clubs and companies in Kanchibiya District, Muchinga Province.
He said the loans will uplift and support small businesses and stimulate economic growth.
The Lawmaker also expressed happiness that the loan recipients underwent a financial literacy training by Zambia National Commercial Bank (ZANACO).
He said the financial literacy will significantly assist all who have been given the loans to prudently utilise the money.
Meanwhile, Chief Kabinga of the Bisa people in Kanchibiya District, who is also a beneficiary of the CDF loans, has called on all the beneficiaries to pay back within the agreed time frame so that other people can also benefit.
And Kanchibiya Town Council Chairperson Chota kanyanyamina said the CDF loans are very flexible and affordable at a fixed interest rate of five percent.
She said CDF empowerment loans are a game changer to small and medium entrepreneurs in the District.