By Daily Revelation Reporter
The Citizens Economic Empowerment Commission (CEEC) is telling applicants with viable projects and whose applications have been outstanding for a long time, that they cannot fund the projects due to limited funding.
According to correspondence to Daily Revelation from a considerable number of applicants whose applications have been gathering dust despite the insistence from the President and government that they must take advantage of the credit facilities to boost their business or embark on some ventures, there is very little happening on the ground, at least from the people that have made applications and whose proposals have been deemed viable despite lacking funding.
A cross section of people who applied for loans under the CEEC have expressed concern with the slow and suspicious pace at which their applications are being handled.
Some of the affected would be beneficiaries who have spoken to Daily Revelation on condition of anonymity for fear of jeopardizing their outstanding applications, expressed fear that the process may not be entirely transparent as it is taking abnormally long to reach any tangible conclusive phase, suspecting that the system could be used to advantage a few powerful people as used to happen in the previous administrations.
“Since resubmitted our applications, we only received vague emails after several months asking us to consent of the commercial bank disbursement option within 48 hours and since then it’s been quiet ” the sources said.
Some emails Daily Revelation has seen bearing a similar response reads in part, “Your application is viable but we are unable to fund it due to limited funding. However, we are glad to inform you that the commission has entered into strategic partnerships with some selected commercial banks that are willing to fund recommended applicants at reduced interest rates.”
The applicants further lamented that up to now they have not heard anything from the commission which makes some projects that are time barred difficult to roll out.
The sources have insisted to Daily Revelation that this whole thing could have two sides one for the public and the other for the selected but privileged few.
Contacted for comment on the complaints, CEEC director general Charles Mungule’s phone rung unanswered and neither did he respond to questions sent to his mobile number. What followed was that the number on which we had been trying to get in touch with him had been put on call forward to another number.
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