Chibombo small scale businesses get K75, 000 in loans

Government through the department of community development in Chibombo district has given out loans amounting to K75, 000 to small scale businessmen and women in Keembe and Mwachisompola areas in the district.

Assistant Chibombo District Community Development Officer Chilema Siachiti said the loans were meant to boost the capital for small businesses in the villages.

Mr. Siachiti told ZANIS that the K75, 000 was a revolving fund which was expected to benefit over 100 people in the first cycle.

He said all beneficiaries had applied for the varying amount of money depending on the type and size of their businesses.

Mr. Siachiti said the loans were part of government’s empowerment programmes which were aimed at improving the livelihood of people living in the rural areas of the country.

He said the loans would accord people in rural areas an opportunity to cheaply access finances for expanding their businesses.

Mr. Siachiti said by giving out the loans, government was addressing the challenges that people in rural areas face in terms of accessing loans from commercial banks.