The Citizens Economic Empowerment Commission (CEEC) is pleased that loan recovery in the third quarter of 2018 has increased by two percent representing a 61 percent loan recovery.
CEEC Director General Likando Mukumbuta tells Money FM News via telephone that this is motivating as it shows that the 65 percent loan recovery target by December 2018 will be achieved.
Mr. Mukumbuta says the commission has set loan recovery to be above 80 percent by 2021.
Meanwhile, the CEEC Director General says through the District Value Chain Development Project, that is aimed at promoting value addition, Small and Medium Entrepreneurs (SMEs) in 52 districts have been reached.
“So through District Value Chain Development Project, we have reached about 1, 800 SMEs in the 52 districts I talked about. We are strategically looking at promoting value addition in the districts,” he said.
He says the whole purpose of the project is to take industrialization to the districts across the country by way of supporting SMEs.