CEEC broke, requires US$30m

The citizens’ economic Empowerment Commission is not able to implement the establishment of industrial clusters due to shortage of funds, the commission is looking for US$30m (about K220m) external funding.

Government, through the Ministry of Commerce is currently looking for potential funding partners because the ministry of finance has apparently not been able to release the required money.

The disclosure was made by Commerce Minister Margaret Mwanakatwe in her ministerial statement to parliament but an economist in the Ministry of finance says that the lack of funds is due to CEEC’s misappropriation of previous project funds.

He also said that the establishment of industrial clusters was an expensive undertaking which required proper budgeting and planning, unlike the haphazard exercise the government has undertaken.

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