Government has described as poor the 42-percent recovery rate of loans disbursed by the Citizen Economic Empowerment Commission CEEC. Commerce Minister BOB SICHINGA said poor loan recovery has led to a serious financing gap at CEEC. Mr. SICHINGA has since asked Management at CEEC to ensure that loans given out are paid back to the commission. He said there were several factors that contributed to poor performance of the commission and empowerment fund such as policy weakens, undue political pressure which lead to imprudent disbursment of funds. Mr. SICHINGA said this at a media briefing held in LUSAKA today. Meanwhile Mr. SICHINGA has directed the the Zambia Development Agency-ZDA to undertake investment promotion missions to countries which have potential to boost foreign direct investment. He named the countries to undertake trade missions as United States, Belgium, Saudi Arabia, United Arab Emirates, Turkey, India South Korea Australia and South Africa. Mr. SICHINGA said ZAMBIA will undertake an investment promotion at home towards the end of the year.

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Recover loans paid out, CEEC prodded

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