Business operators to access credit scheme

By SHIRLEY MAULUDU
SMALL to medium business operators in the fisheries sector can have access to a K5 million credit scheme with National Development Bank Ltd to grow their businesses.
The National Fisheries Authority established the fisheries credit scheme with the NDB in 2007 for K15 million to be drawn in tranches of K5 million.
The first tranche was paid in 2007.
“This K5 million cheque to NDB is a follow up on a decision that the board had made in 2007 to have K15 million extended to the bank to be able to lend to our SMEs and fishermen,” NFA managing director John Kasu said.
“We’ve been looking at assisting our SMEs in different ways. We’ve got PDF prorgammes we are looking to assist grassroots fishermen to get involved in fisheries activities and businesses.
“And part of it was to have NFA put some money aside to National Development Bank and Micro credit schemes. I think that was what we’ve done.
“For NDB, what the board had approved initially was for K15 million.
“We extended K5 million initially to the bank and since then we’ve been working together with NDB on loaning this money to assist our medium scale fisheries operators.
“And I think we have seen some success stalls that have come out from that 75 per cent of the initial K5 million had been expended on projects and I think according to the memorandum of understanding we need to replenish that.”
NDB managing director Moses Liu said the facility would be made available immediately to interested clients.