Kaoma Town Council educates applicants on CDF loans

KAOMA Town Council Secretary Kate Mukonde has appealed to Constituency Development Fund (CDF) loan applicants to only accept amounts that align with their business proposals, warning that taking less than requested is contributing to loan defaults. Ms Mukonde said the Council has observed a trend where beneficiaries accept funds far below what they applied for, […]

KAOMA Town Council Secretary Kate Mukonde has appealed to Constituency Development Fund (CDF) loan applicants to only accept amounts that align with their business proposals, warning that taking less than requested is contributing to loan defaults.

Ms Mukonde said the Council has observed a trend where beneficiaries accept funds far below what they applied for, making it difficult for their businesses to generate profit and repay the loans.

 “Some applicants get amounts that are less than what their business proposal requires. Because the money is not enough to invest, they end up diverting it elsewhere and subsequently default,” she said.

She was responding to complaints from some community members who alleged they received less than what they had proposed for.

Ms Mukonde advised applicants to decline disbursements that do not correspond with their business plans

Kaoma Central Constituency has so far disbursed over K15 million to 271 loan beneficiaries.