POWER OF K1 INITIATIVE LAUNCHED

Zambia Cooperative Federation to operationalize Business Park

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Minister of Commerce, Trade and Industry Christopher Yaluma

SENIYA BANDA writes
@SunZambian
THE Zambia Cooperatives Federation (ZCF) in conjunction with Lusaka marketeers cooperative union has launched an initiative dubbed the Power of One Kwacha Member’s Contribution Scheme that will promote trade between farmers, chain stores and marketeers.

Acording to the Zambia Cooperative Federation, the scheme will require each member to contribute one kwacha for a period of six months towards the operationalization of the ZCF business park. The park will operate as a trade cen-tre designed to promote and expand trade between farmers, chain stores and marketeers.
Meanwhile Government says it is committed to revamping the existence of cooperatives in the country in order to enhance productivity in economic sectors of the country
Commerce and Trade Minister Christopher Yaluma says government is determined to see the growth of cooperatives in the country in order to stimulate economic growth.
Mr. Yaluma said this in a speech read on his behalf by Ministry of Commerce director of cooperatives Shaderick Mungalaba during the launch of the Power of K1, an initiative aimed empowering farming and market cooperatives commerce minister
And Mr. Yaluma said the launch of the power of K1 was commendable as it will complement Government efforts of empowering citizens.
Mr Yaluma said the project was also helping Government enhance market linkages among farmers.
‘’We aware the project will help government enhance market linkages among farmers but it will also farmers and marketeers will be free of exploitation through the extortion and price fixing,’’ he said
Meanwhile Zambia cooperatives federation director general James Chirwa said the project will go a long way in sup-porting citizens. Mr Chirwa has since challenged the board with mandate of securing the funds to ensure there is transparency and accountability in the utilization of funds.
And Lusaka Marketeers Cooperative union chairperson Elino Daka said the project will benefit 63 marketeers’ coopera-tives.
Mr Daka said the union is confident that the initiative will uplift the lives of the marketeers.

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