Government Launches Marketeers Loan Scheme

President Hichilema has launched a loan scheme to help marketeers get improved access to finance.

K171.5 million has been allocated to the programme in order to “fix” access to capital, a common problem amongst those in the informal sector across the country.

The loan is designed to facilitate short term investments, repayable across six months at 0% interest. Improving access to finance is considered to be amongst the most important ways formal sector initiatives can aid growth, sustainability, and innovation in the informal sector by the International Labour Organisation (ILO).

Under the conditions of the loan, marketeers can acquire between K500 and K5,000. Launched under the auspices of the Citizens Economic Empowerment Commission (CEEC), Hichilema spoke to a crowd at State House and explained the booster loans are designed to act as a revolving source of funds for the marketeers. With zero percent rates, there is little disincentive to use the fund repeatedly. 

“We ignored for many years those that made the trade possible between the producers, farmers and other manufacturers through the market. Through those people we were able to feed our families every single day,” President Hichilema said. 

He encouraged marketeers to use the money wisely, not to use it for everyday costs like school fees but to “retain that money in their business as working capital and grow”.

The CEEC Director General thanked the president for entrusting the Commission with the programme, whilst the Zambian National Marketers Credit Association commended the programme for prioritising a vital part of the nation’s economy that has historically been overlooked.