70,000 cooperatives formed – Hichilema
By Thandizo Banda
PRESIDENT Hakainde Hichilema says government has registered 70,815 new cooperatives since 2021, bringing the national total to 153,000 as a way of empowering citizens.
Speaking during International Cooperatives Day held in Kabwe on Friday, Hichilema said the growth was part of efforts to diversify cooperatives beyond agriculture into mining, finance, construction, transport and agro-processing to create jobs for youth and women.
To support them, Hichilema said, government had significantly increased funding across key programmes.
“The CEEC Fund has been raised from K41 million to K515 million in 2026 and has already supported over 74,000 cooperatives and MSMEs. The CDF [Constituency Development Fund] has also been scaled up from K1.6 million to K40 million per constituency, with 20 per cent ring-fenced for cooperatives and SMEs,” he said in a speech read for him by acting permanent secretary in the Ministry of Medium and Small Enterprises Remmy Kafwafwa.
The President said government had issued 874 artisanal mining licences to cooperatives and expanded the Credit Guarantee Scheme to K850 million to improve access to low-cost finance.
Hichilema acknowledged challenges such as poor governance and limited finance.
He said government was reviewing the Cooperative Societies Act and urged cooperatives to embrace digitisation and value addition, including through trade corridors like the Lobito Corridor.
Hichilema linked cooperatives to peace and stability, stating that they created the environment for investment and market growth ahead of the August 13 elections.
