The Citizens Economic Empowerment Commission (CEEC) approved only 10 per cent of at least 3000 applications it received in the year 2009.
CEEC Director of Empowerment, Ricardo Lupenga, said at least 300 projects were approved from over 3000 applicants last year.
Mr. Lupenga told ZANIS in an interview in Kabwe today that out of the over 300 approved projects, 202 projects have been funded.
He said the commission was closely monitoring the funded projects, adding that they were so far doing very well.
He said CEEC will endeavor to provide financial assistance to all activities that support business linkages and growth in Zambia.
Mr. Lupenga further said the commission would ensure that all approved projects utilized its funds wisely and profitably.
Meanwhile, Mr. Lupenga has explained that CEEC approved only a few applications because they were the only ones that had convincing proposals for viable projects.
He has since appealed to the members of public not to shun CEEC programmes because the commission was an entity that was spearheading businesses growth in the country.
Mr. Lupenga also urged youths to make use of the empowerment programmes which the CEEC was offering in order to improve their livelihood.
The Citizens Economic Empowerment Fund (CEEF) was established under the CEEC act number nine of 2006 to support the development of broad based economic empowerment programmes.