Chikwawa South Constituency Unveils K10m CDF Revolving Fund Loan Program
Some 200 youth and women in Chikwawa South Constituency have accessed loans under a 10 million kwacha Constituency Development Fund (CDF) revolving fund which they will use to start up businesses.
This is the first cohort of ten youth and women groups to have benefited from the loan program.
Member of Parliament for the Constituency Ilyas Karim on Wednesday presented a K1 million cheque to each of the remaining nine groups at Nkhwangwa primary school.
He implored the beneficiaries to use the funds prudently for their economic empowerment.
“We have empowered them through sports and other initiatives which indirectly benefited them so this time we are bringing something of direct importance in their day to day lives.
“I expect them to be empowered economically by engaging in various businesses. You are aware that Tropical Cyclone Freddy affected a lot of youth and women. They lost many things, livestock and homes were destroyed.
“So the loan will assist them to recover from the shocks so it is important to fast track this program during this time,” explained Karim.
The Chikwawa South legislator urged the beneficiaries to ensure recovery of the same so others equally benefit.
“Any program registers success if it is incentivized so the first group to complete recovery of the loan will be prioritized, they will get more resources. The amount each beneficiary is getting will be doubled or tripled," he said.
He says he targets to reach out to over 100 groups by 2025 saying, “I am not only banking on 10 percent of the CDF allocation, I will engage partners who are willing to support such programs that are critical in creating jobs for our youth and women.”
He further warned against any political interference in such programs. “Anyone who will interfere in this program including my fans I will make sure that they are removed from whatever role they are playing in this, we want deserving people to benefit.”
One of the beneficiaries, Tinalesi Mangawa, of Tikondane youth club from Khokhwa village under the area of Traditional Authority Ngabu has assured the legislator that they will put the funds to good use.
“We have been doing businesses but lacked skills including cash flow issues. We have acquired such skills through the training we had, hence it will be business unusual, and things will not be the same,” said Tinalesi.
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