A Political activist has expressed disappointment over the statement made by PTA Bank in which it reminded the Zambian government about the outstanding crude oil debts of US$257 million.
Tobias Kafumukache, a member of the ruling Patriotic Front (PF), says as a concerned citizen he is taken aback because PTA was not the only bank that Zambia owed money.
He said Zambia owes money to a lot of banks like the international Monetary Fund IMF and The World Bank but they have never heard them rush to the media to start making enquiries about the monies owed.
He wondered why PTA had to bring the matter to the attention of the media because business matters are confidential that should not be to be dealt with in the media.
Mr. Kafumukache said PTA knows the mode of communication but he was surprised that the Bank had decided to take the route of the media which was very embarrassing.
He said one wondered if the PTA bank wanted to embarrass the Zambian government. He said it was clear that something needs to be looked at adding that PTA should know that there is no nation in the world that does not owe money.
Mr. Kafumukache who is also PF media mobilization assistant said there are various countries that owe money to banks but they have never heard these banks rushing to BBC or CNN to inquire of balances that are owed to them.
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There is nothing to be shocked about here. Government borrows on behalf of citizens and citizens need to be made aware if government has also paid back on behalf of the citizens it borrowed on behalf of
those of you who think this guy is talking nonsense, when the banks you owe tuma scheme loans and other loans go to talk about it in the media,mentioning your names, kindly sealyour butts properly because we dont want to smell what will come out of there!!!!!!!!
a banker never discusses who and what is owed in the media, even if they are sponsored by the cartel…………….
those of you who think this guy is talking nonsense, when the banks you owe tuma scheme loans and other loans go to talk about it in the media,mentioning your names, kindly seal your butts properly because we dont want to smell what will come out of there!!!!!!!!
a banker never discusses who and what is owed in the media, even if they are sponsored by the cartel…………….
This is our manee we are talking about, we have the right to know. This information should be in the public domain if it is not already.
Why should we be ignorant of depts we will be saddled with for generations ?
Tobias is a PF cadre and does not understand the way PTA Bank operate. PTA bank is a regional membership bank. Tthis means only member countries of the bank are eligible for loans. The bank is financed by membership contributions and loan interests from members who borrow. Failure by members to repay loans affects the bank’s capacity to provide loans to other members and these matters are discussed at the members’ open meetings which are covered by journalists. So the bank’s business matters are not a secret and can accessed by any interested party ! Grow up and stop unsubstantiated comments !