UA-55300619-1

CEEC improves loan recovery to more than 50%

Filed under: Business,Latest News |
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The Citizens Economic Empowerment Commission (CEEC) has recorded a considerable improvement in its loan recovery across Zambia.

CEEC Public Relations and Communications Manager Mercy Khozi-Mwila disclosed this during the CEEC’s Credit Recovery Programme in Lusaka when the commission together with bailiffs seized property from a defaulter.

According to Khozi-Mwila, the loan recovery rate has more than doubled to 59 per cent, as of June 30, 2018 compared to 21.6 per cent in 2013.

She stated that Central, Northern and Luapula provinces have posted recovery rates above 65 per cent.

In a statement, Khozi-Mwila says the commission is on course to attain its target of 80 percent loan recovery by 2021.

From the loan recoveries, CEEC has been able to disburse more than K315 million from the revolving fund to various empowerment projects across the country.

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Start: 2019-07-01 End: 2019-07-31