By OLIVER SAMBOKO.
THE Presidential Empowerment Initiative Fund (PEIF) will this year alone empower over 40,000 beneficiaries with startup capital in 90 district across all the 10 Provinces of the country, Fund Manager, Samuel Luneta has disclosed.
He said President Edgar Lungu was passionate about the Initiative following its positive impact on the lives of the thousands of citizens that are enrolled on the program.
Mr. Luneta said an addition K1 Million had been mobilized and would be injected into the fund to ease capital access by marketeers and other groups in the country and was hopeful that more funds would be made available to rollout the program to all parts of Zambia.
He said currently K800, 000 was already revolving and was hopeful that with the injection of K1 Million in the fund, more beneficiaries were going to be brought on board.
Mr. Luneta said from inception in 2015, a total of K14.7 million had so far been disbursed in form of skills, youths and women empowerment, empowerment of marketeers and donations to churches.
He said in order to enhance loan performance, a monitoring mechanism had been put in place to monitor progress of the beneficiaries who have already benefited from the initiative so as to make the program sustainable.
Mr. Luneta appealed to those that had not yet benefited from the fund to apply so that they can be considered in the next disbursement.
He said the initiative was not only for PF members but for all Zambians regardless of their political affiliation.
“The PEIF is an initiative by the Republican President meant to benefit all Zambians regardless of political affiliation,so I appeal to all those that have not yet applied for the fund on the belief that it was only meant for PF members, to think and apply,” he said.