Presidential Fund empowers over 7, 000 marketeers at a cost of K10.4 million

Chanda Kabwe

Presidential Empowerment Initiative Fund (PEIF) Patron Chanda Kabwe has disclosed that from 2015 to date the fund has empowered over 7, 000 marketeers at a total cost of over K10.4 million.

Speaking during the PF Media Interactive Forum in Kabwe, Mr. Kabwe says the K10.4 million is both in cash and asserts form.

Mr. Kabwe has explained that in 2015, President Edgar Lungu sacrificed 10 percent of his salary to go towards empowering local marketeers.

He says initially the project was aimed at assisting marketeers in Kitwe, Ndola and Chingola as a pilot program but that due to the growing demand it was extended to other provinces.

Mr. Kabwe, who is also Central province permanent Secretary, states that this was because most marketeers had no access to loans because of collateral demanded by the banks.

He is confident that the program, which he is a success, will go a long way in improving the lives of marketeers in the country.