Question

a) In an attempt to promote local entrepreneurs and economic development in Zambia, the Citizen Economic empowerment Commission (CEEC) implements its programme using the empowerment pillars. Discuss these empowerment Pillars.
[20 Marks]
b) In trying to explain entrepreneurial behaviour, experts advance four models. List the models and explain which model best explains Mponda’s entrepreneurial behaviour? Give clear reasons why. [10 Marks]
c) Zulo Mponda can be classified to be in the tourism Sector. Discuss the tax incentives enjoyed by entrepreneurs in the tourism sector as provided for by Zambia Revenue Authority. [5 Marks]
d) Discuss two organic sources of Finance for Zulo Mponda [5 Marks]

Answer 1

Citizen Economic empowerment Commission (CEEC) in Zambia is a body corporate which operates with the objective of economically uplifting the weaker and less privileged sections of the society and who have less or no access to economic resources owing to factors like caste, race, sex, disability etc.

Pillars of the Citizen Economic empowerment Commission (CEEC) :

1. Ownership, Management and Control- citizen influenced (5-25%), citizen empowered (25-20%), citizen owned (50%+1)

2. Skills development- improve education facilities, encouraging new business setups.

3. Preferntial Procurement- minimu 50% of the Govt. and private sector expenditure should go to the empowered companies and minimum 30% of these companies be controlled by the targeted people.

4. Transformation of society- promote culture, sustainability, entrepreneurship

5. Access to Finance- establishing a special purpose vehicle to finance CEE

6. Corporate and Social Responsibilty- encouraging corporates to uplift economy, society

7. Good political, and corporate governance

8. Greenfield Investments- promoting investments between foreign and local investors

9. Foreign direct investment- encourage foreign and local partnership