Zambia National Marketer’s Credit Association ZANAMACA has revealed that it planes to provide financial literacy among marketeers benefiting from the K171.5 million marketeers’ loan.
President Hakainde Hichilema this month launched the K171.5 million worth Citizens Economic Empowerment Commission booster loans for marketeers countrywide so that they can acquire credits from between K500 and K5000 that are payable in six months at no interest.
ZANAMACA president Mupila Kameya said Financial Literacy program is aimed to supplement governments efforts and will help beneficiaries understand the criteria of how to handle and pay back the money after wards.
He said through engagements with government and stakeholders the association will also ensure that the disbursement is monitored and beneficiaries are identified.
As an Association in trying to supplement government’s effort, we want to ensure we provide financial literacy, because people have to understand that these are not free money, but money they borrow and need to pay back,” he said.