The Citizens Economic Empowerment Commission (CEEC) has partnered with Airtel Money Zambia to quicken the process of disbursing and receiving repayments of business loans.
The partnership comes into effect immediately. CEEC Director General, Dr Muwe Mungule said that the partnership is providing real value by enabling CEEC clients on the Airtel network to repay their CEEC business loans through a secure, fast and convenient manner.
“We are certainly delighted with this partnership with Airtel Money as it gives CEEC clients, not only marketeers a modern-day experience with CEEC. Going forward, the Commission would like to increase its technology touch points for better service delivery,” Dr Mungule said.
Speaking at the signing event, Country Director for Airtel Mobile Commerce (Airtel Money) Mr. Andrew Chuma said the Airtel Money business had seen growth in many aspects and was happy to be contributing to the National Financial Inclusion Strategy which supports institutions to leverage on digital technologies to reduce costs and expand financial services to both the formal and informal sectors.
“The partnership we are announcing today is an important one as we support Government’s agenda in the 8th National Development Plan to increase access to affordable financial services, particularly by women, youth, persons with disabilities and the rural-based population.” Mr Chuma said.
Through the Airtel Money platform, the Commission will receive loan repayments for micro-financing such as the Marketeer Booster Loans, as well as for project finance through several other CEEC empowerment products. CEEC has so far been able to disburse over K70 million since the November 2022 to over 30,000 beneficiaries across the country.
Through loan repayments, a sustainable revolving fund is expected to be created that will enable other citizens benefit from the Empowerment Fund access loans from CEEC which will in turn make meaningful contribution to economic development of Zambia.
Source: CEEC and Airtel Zambia