CEEC ANNOUNCES TOURISM FRANCHISING BUSINESS LOANS
The Citizens Economic Empowerment Commission (CEEC) of Zambia has set aside a total of K6 million to promote a special Initiative for international standards in Zambia’s tourism industry by supporting targeted citizens to establish franchise tourism businesses.
The Commission has set aside these funds for Targeted Citizens wishing to establish franchise tourism businesses and that the Franchise investments in tourism which the Commission will consider, shall include hotels and other lodging, restaurants, water sports, theme parks, takeaways, travel and tours, cinema, and any other.
The Commission says this special initiative will be implemented initially in Muchinga, Southern and Western Provinces and each province has an allocation of K2 million to citizens wishing to tender for franchising support. The maximum loan repayment period for this initiative shall be 5 years at an annual interest rate of 12%. Provision of collateral will be a strict requirement for this facility and that the Applicant will have the responsibility of proposing a franchise business they wish to invest in.
A franchise is an agreement where the owner of a trademark or brand allows someone else to operate a business that sells their products and/or services under license. The one that issues the license is called the franchisor while the one receiving the license to operate is called the franchisee.
Released by Head of PR & Communications
Glenda M.Masebe.
For Further details and enquiries, please contact the Public Relation Unit at Head office on:
0978 77 9395/0967 77 93 95/256020
via www.ceec.org.zm
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