Citizens Economic Empowerment Commission -CEEC- has established a Cashew Matching Grant Facility worth two million United States dollars.
CEEC Director General Likando Mukumbuta says the fund has been sourced from African Development Bank -ADB- as part of the 55.4 million US dollars cashew project government is implementing in Western Province.
Speaking during a sensitization meeting held at Kalabo Secondary School, Mr. Mukumbuta said the fund is meant to boost enterprises of cashew value chain products under the Cashew Infrastructure Development Project (CIDP).
He said the matching grants being floated are meant to finance entrepreneurs venturing into nurseries, plantations, storage, processing and marketing of cashew products.
Speaking at the same function, Kalabo District Commissioner, Fridah Luhila said cashew yields have improved this year following spraying of chemicals and pruning exercise which boosted production levels of already existing trees.
Meanwhile, Acting District Marketing Development Officer, Munchini Ushiti has advised applicants to be realistic in their project proposals.