Citizens Economic Empowerment Commission

Citizens Economic Empowerment Commission is rated 3 out of 5 in the category financial services. Read and write reviews about Citizens Economic Empowerment Commission. The Citizens Economic Empowerment Commission was established by the Zambian Government through an act of Parliament Act No. 9 of 2006 with a mandate to implement various economic empowerment programs across the country. The rationale of the CEEC is to promote the empowerment of citizens that have been marginalized or disadvantaged and whose access to economic resources and development capacity has been constrained due to various factors such as race, sex, educational background, status and disability. In executing its mandate, the CEEC has anchored its programs and activities around the nine pillars of empowerment which include equity ownership management and control of companies. These must be citizens-influenced companies (5 to 25 per cent), citizen empowered in the range of 25 to 50 per cent and citizens owned (50 plus one percent). Preferential Procurement, as provided for in the Citizens Economic Empowerment (CEE) Act number 9 of 2006, is a measure designed to broaden market access of the local enterprises so as to integrate them into the mainstream economy. Preferential procurement is a key component in empowering the Zambian Citizens. It is noted that government procurement accounts for about 15% of the Gross Domestic Product (GDP). Both the private and public sectors spend a lot of money on procurement of goods and services in the course of their business activity, citizens have been constrained to effectively and meaningfully participate.