Matero Cooperatives receive 3 million Kwacha CDF loans

The Lusaka City Council - LCC has handed over Loans amounting to, K3,227,495.00 to 51 successful applicants comprising cooperatives and individuals in Matero Constituency on Monday.

Matero Cooperatives receive 3 million Kwacha CDF loans
Matero Cooperatives receive 3 million Kwacha CDF loans Image Credit: Facebook

Lusaka: The Lusaka City Council – LCC has handed over Loans amounting to, K3,227,495.00 to 51 successful applicants comprising cooperatives and individuals in Matero Constituency on Monday.

Speaking when she officiated at the handover ceremony, Lusaka District Commissioner Rosa Zulu thanked both the Lusaka City Council-LCC and the CDF committee for playing gatekeeping roles crucial for the prudent utilization of the Constituency Development Funds-CDF.

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Zulu also used the handover ceremony in the Matero Constituency to encourage all loan recipients in the Lusaka District to ensure that they practice financial discipline by utilizing the funds for the intended purposes.

The District Commissioner said that only through discipline and the correct use of the funds would the recipients see the full benefits of their labor.

She added that her office takes a keen interest in the CDF programme, as it is one of the Government’s key developmental programs, carefully crafted to improve the livelihoods of Zambians.

Zulu said that the Government has demonstrated its strong desire to change the livelihood of its people, as can be seen from the increment of the CDF allocation.

She encouraged the beneficiaries to equally do their part by not defaulting and putting the disbursed loan amounts to good use.

Speaking at the same event, Matero Member of Parliament Miles Sampa tipped the loan recipients to improve their living standards by using the funds responsibly.

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He added that it was only through the correct use of the funds that they are living in the interest of improving their standard of living, in a bid to lessen unemployment levels, among other things.

Meanwhile, the Matero Law Maker has encouraged the loan beneficiaries to consider broadening their business idea base. Sampa expressed concern that most business ideas seem to be centred around poultry farming only.

He has called on residents of Matero to demand for Development by taking interest in CDF and applying as the disbursements are meant to benefit all Zambians without leaving anyone behind.

Lima Ward 30 Councillor Daniel Mwewa expressed happiness at the disbursement, adding that the loans will change the lives of the people in Matero and Zambia as a whole.

From the 2023 CDF Loan disbursements, beneficiaries acquired loans to undertake, among other business ventures, funds to set up poultry businesses, with an ex-convict being among the successful applicants.

Those present at the handover ceremony included Mwembeshi Ward 31 Councillor Chrispin Kabole, the CDF – Committee members and community leaders.