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Termites chew K3.5 million

By editor
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A  farmer in Senanga has lost about K3.5 million out of K7 million he has buried in the ground  for safe keeping  after termites pounced on the money. Grandson to the victim Frank Lungwangwa who confirmed the development  to ZANIS in Senanga said  his grandfather had lost  the money  after hiding  the K7million  in the ground for safe keeping.

The  farmer  is reported to  have raised about K7 million from the sale of cattle . He is  said to have buried the K7millin which was  in K20, 000 denominations  in a hole he had dug under his  bed. Lungwangwa said  his grandfather  had been sleeping on top of the spot where he had buried the money. The development however he said came  to light  when his  grandfather  wanted to buy an Ox- cart. The cattle farmer who threatened to commit suicide  over the loss of his money was however advised to take the money  to  ZANACO bank in Senanga.
And  an economists Chibamba Kanyama told ZANIS in a telephone interview that hoarding had serious economic implications. Mr. Kanyama regretted that the farmer could not gain any interest from the money which he genuinely acquired. He observed that for the past three years, the K7million could have contributed to economic growth significantly if it was not hoarded.

Mr. Kanyama said the challenge lay with commercial banks and other players in the financial sector to seriously market their products suitable for such groups of economic players.

editor
editorhttp://www.lusakatimes.com

138 COMMENTS

  3. Chibamba is not an economist but a journalist – he rants about but does not really understand economics!!!! Chibamba quit pretending

  4. No pun intended, but, I guess Frank Lungwangwa’s grandpa didn’t understand the parable of the three servants from a very well known book…

  6. Please Mr RB create some credit union( smallscale banks) in rural areas to avoid having my mbuya burry money underground. Hes even lucky he didnt forget where he buried it, coz he could have commited suicide citing theft.

  8. # 3.You are ignorant.Chibamba Kanyama was my classmate at UNZA.He had a double major,minor in journalism & major in Economics.He holds a Masters in Economics frm abroad.Go to UNZA & verify his records.Dont feel jealous for your friends.

  9. Too bad for my mbuya. I wish to appeal to the rest of to advice our illitrate relatives not to bury the money or else they be the next victims.

  10. Too bad for my mbuya. I wish to appeal to the rest of you to advice our illitrate relatives not to bury the money or else they will be the next victims.

  13. #2, luswabile. Nikomokile ahulu, niluna ma lozi lwahezanga cwana? Neni nahana kuli kima Tonga fela.

    As the tongas say, wakabika mujungusi a bulo!

  15. Mawe! Kuku ki maswabi luli. Kambe neli mali amu waya-waya kambe kimbubo. Kono mali a mapepa.Cwale bana bakacha sikamani? Halusaliyo mwa bukoba!

  16. A challenge to the government and financial institutions to take banks to the people. PEOPLE LIKE THIS OLD MAN ARE POTENTIAL CLIENTS. i CAN ONLY IMAGIN HOW MANY OF THESE THEY ARE OUT THERE.

  18. Tongas also . . ha ha ha ha ha I am so happy I am not Tonga but Lozi. Stop cant stop laughing at this Tonga grandpa . . ha ha ha ha!

  19. Chibizwakusosela in Sheffield you even have the nerve to say we zilaika when you nkhaka has just done this. Akhakha tatubiki mali mujungusi ya bulo? Ino twasuba ma? In western province we have “Siteni Panga” i.e. Standard Chartered Bank in Lozi.

  20. Chibamba Kanyama is very right. Very, very right. Its is very sad that the system has not created ways of taping into the small scale industries. Even when it comes to loans, the small scale industries struggle to get loans from the financial sector. This is what you get to hear, like the man in the story, when the system is not supportive or favourable to the common man/farmer. It’s alsoas a result of unequal distribution of financial services.

  21. #8 please visit chibambakanyama.com..and read hs UNZA qualification,its a Mass Communication major,minor Economics,then he did a masterz n Economics..dnt lie here ati u wre clasmates..i for one appreciate al hs works and thots..

  22. Ba 3 don’t just bwata wthout having the facts ndimwe bantu bamene bana choka ku zed kudala tht u think it’s still the same wooooooooooooooooooooooooooooooooooooooo!

  23. # Don’t be tribal on this issue. The man deserves COMPENSATION from some Bank of Zambia. They have to take that “eaten” money and give him equivalent value, at the time of his underground savings. After all the Zambian Insurance system is far away from reaching to villagers.

  24. Sorry kuku, but fact is ZANACO just went to Senanga in the last six months, before there was no bank. The same thing is happenning in Kalabo District and many other Districts where there are no banking facilities. I should know, spend a long time in Kalabo.

  26. hahhhhhh sad story, government has alot to do, majority of zambians have no bank accounts. Lozi commrade sorry but wake up’

  27. Chibamba Kanyama is right. The man has lost twice. Reminds of the parable Jesus gave of a man who burried is talent (or money) instead of investing it. It was finally taken away from him. He who has ears, let him hear.

  28. Ok guys, sorry to say this but its true. Western Province is fast bcoming the least developed province in Zambia. This is because the people there are ‘hostile’ to new businesses. Shoprite and Zambeef had a tough time being established there. They were given land near a graveyard, extremely far from trading area. The Westerners need to change or else they will remain further behind. Business people and organisatons fear the place.

  30. #28 Abantu baya, Lozis are not hostile people. Actually they are the most sweet people I’ve ever met. I know they are good because I’ve lived with them all my life. The thing about Western province is that there is order. You do not just walk into the province as an “investor” and expect favours to be showered on you anyhow. You have to follow rules and unfortunately most of our investors don’t like following rules.

  35. #34 tuli kabotu omunene, amuzumanane kubaambila bamalumbu aaba. Musankwa weelele kuzwidilila mwaka uno. Sena muyakuunka kuku vota?

  37. Iyi basa unomwaka musakwa ulelende kuzwidilila.Sunu bala launching campaign ku mulungushi.Atubambile bali kumanda kuti baka vote kabotu,kwina kuchengana pe.

  46. Bloggers, please, use English. You will end up inflaming the tribal debate. Alternatively, use quotation marks and explain in English the meaning. “Mwatelela?”…meaning…”understood?” or “comprehended?”

  47. Ndalumba kundaambila nkomuzulilwa. Pesi ndaambaula abasankwa kumaanda every week, tulabona mbozyitiicitike zyintu. But hope nkoili mwe.

  48. Thanks Shakulima for your observation, just that we miss this tongue sometimes. # 44 and 45, back to the official language gents.

  51. #49 Thanks mate for the conversation. Continue with your contributions in future, I enjoy them, and have a nice day. Bye for now. I am starting on some other things as well. (Bye #44 too).

  52. Thanks shakulima, we just miss home. we rarely use this language where we are now. ndakulala mupone kabotu basa( going to bed have a good day).We talk with pipo back home as well, we will educate them on voting wisely.

  55. What did the chap think, the money would grow? This gentleman needs to have a sitcom or reality TV show!!! Ba Kanyama naimwe … please leave us in peace without rationalizing the bleeding obvious. After all you talk like you’ve got mabuyu mu kamwa

  56. sorry to our lozi colleague. anyway i hope you will replace the money by selling more cattle. try and build sand banks in future.

  57. Lozis please kaso yaso is bad. Bank the money for safe keeping in the banks otherwise you will keep on losing. You are also the leaast underdeveloped province because of your mentality. When are you going to wake up?

  59. I really doubt that this old man is lozi……this seems to me like the behaiviour of my mbuya’s the Tongas. Besides, the name Lungwangwa isnt lozi…..Ma Tonga amu shapuke!

  67. I think the chap deserve this. I reall can’t understand this person at this age, surely burying money. Mulelekako ubututu twapapata. the termites should have just hammered everthing.

  68. #60 you are a talented liar,Your father is probably lozi and gave you all you needed.How come you say lozi men are stingy. The truth is that lozi men are not plunderes like your Bemba boyfriend. U no ba ni likute!

  73. #57 How can you WP is the least develop province in zed when Levy’s body was going around the provinces they were all claiming that Levy will be highly missed becoz he is the one presod to developed the provinces ‘especially here in WP’.

  74. This poor Lozi still living in the past. The man is just silly. you mean he did n’t know termites were in charge underground. i am he has learnt a lesson.

  76. #60 You are right my sister Lozi men are too bloody stingy for liking, I for one can never have a lozi boyfriend/husband. I have a Bemba man who treats like a Angel from Heaven and showls me with everything a woman needs!

  77. EIsh abalo bamaLozi…..mwatalika alimwi kuzilaika.ino inga wazika mali mujungusi suwa ohi kuti kuli tuuka tuti alye mali ako. hena mapayi alo taninga ligwa?

    amwaape ndiswe tobatonga tumuyobolele mali. dnt worry tatutialye pe.. mukapa munji amaanda esu.

  79. No. 2. Why attack Chibamba like that? He gave a very positive comment, whether he is an economist or not, didn’t you get some sense from that? Let us avoid attacking people unnecesarily.

  81. #54 ‘Banks are over in Zambia’. You are a joker. Zambia is one of the least banked countries per capita in the world. It is also one of the most exploited by financial institutions. They require a stupid ‘minimum’ balance and impose a lot of bank charges. Lusaka has about 2m people. Less than 3%of these have bank accounts. The tragedy which has befallen this peasant in Senanga says a lot about how backward Zambia is. He is a microcosm ofthesituation many Zambians are in.

  82. #81, you are spot on.
    I wonder if thereis even any proper monitoring of the banks in zambia because they have such ridiculous conditions for opening accounts and silly charges. In some countries you dont need the so-called minimum balance when opening an account. Imagine if this poor man went to open an account and they told him he needed to half minimum balance of K1 million. He would feel like hes getting robbed coz if he decided to close his account one day he would get much of the minimum balance back anyway!

  83. #28. You are very wrong to say that Lozis are hostile. As #30 has already said, Lozis are very nice and kind people but do not like being taken for granted. Investors do not want to go to Mongu because, as they are in Lusaka, they always want to find already existing structures where they will just occupy. True investors should be able to start from the foundation so that even when their time to leave comes, they should leave something that would make a place look difeerent.

  85. shame on the banks in the area. it just means their products are not marketed and the locals not sensitised. even the bible has advised against laying treasure onthe earth where moth can eat it, oh poor man. poverty is pursuing him hard. nop need to cry, the children must learn from it. This is not stone age.

  86. what is this all about full of tongas why and how you tongas and lozis you have brought us shame and shame on you.Sata can take up in this elections but the many worry is government machinery more especially V.Mwanga, we are all worried about this many because of his dealings with our government.V.Mwanga did the same recently in Zimbabwe.

  88. # 3 chibamba kanyama is partriotic zambian whose contribution we need in zambia. to the old man sorry for the loss. i didnt know that people still bury money like this. this is 21 century please wake up poeple. 3.5 M is a lot of money to lose just like that i wonder if it is not a crime to hoard money like that. someone advise.

  89. #60. Lwa miziba mina Me. Mulata ku somiwa kwa manyunyuku. Kumina kuti ki ku zwela pili. Ki butanya feela. Amuzwe ni bunkolyo bwa li njoko zamina!

  91. I am officially raging a one man protest against Chibamba Kanyama…that guy is everywhere!! For goodness sake, he doesn’t even sound intelligible…and SOOOOOOOOORRRY to all of you Kanyama fans but I speaketh the truth…BOOO CHIBAMBA KANYAMA!!! BOOOOO!!!

  92. Chibamba is an intelligent man and he has the right to be EVERYWHERE! Tough if that irks you. What irks me however, is that this poor man could have taken his money to the bank but was too scared to do so, our commercial banks need to enlighten the people who actually have the money in these villages.

  93. 91. yes my man we can hear. you have just returned from the cemetry. us the living know what Chibamba has done. as a ghost am sure you can wait for him when he comes over there. do not confuse what you see in the spiritual world with reality. you are just one of the statictics which populate our motherlad. if i had a way i would introduce human cropping and you could be the first one coz you are worse off dead than alive.

  94. Oooops! that looks like NSABWE! or INDA!(lice) that makes my skin craw. Almost $1,300 gone! what a loss ! my sincere condolences to you.

  95. sorry to the old man…all u need is to have a bank account….its mo safe then burring underground..hope that u gain mo money..from what i s remaining.

  98. chibamba is just a usless consultant,he claims to be a motivational speaker and making pipo pay huge sums of money.can he hell motivate me by telling me any company that hes started and is doing fine here in zambia,

  99. you Mr Goergia Russia. has he been that side as well. am sure you just envy the young man. try something also for which people will pay you. you can for instance bring the circus to zambia and we shall pay. do not just open your stinking mouth anyhow. learn to zip up when you do not have anything sensible to contribute. wamvela mwaiche wandi.

  100. Iwe Georgia Russia, what has the Man done to you?please tell us,you seen to have a personal issue with him…..did your woman leave you for him? Get a life and upgrade yourself too.

  101. #89 that’s a great one bati…kikale foniutwezi matapa a cwalo! Kubonahala kuli luli kezelaluna wafanisa..lol

  103. There is just too much vernacular, particularly Lozi under this article. So you have come out, now we know you. That is why is you turned the ground to be Bank of Senanga and half the loot was grazed!

  104. Too bad Bo Lungwangwa, but this should serve as a lessons to others who like hoarding cash. It may not necessarily be in the ground where “natural termites” can chew, but also in pillows, roofs where “human termites” can access. Bamwenye mu Kamwala, Passop!!!

  105. 99. Mr Conman, are you sleeping with Chbamba Kanyama, because its beginning to sound like you are. P.s. a very sarcastic haha to you human cropping joke…or whatever that was meant to be! CHIBAMBA KANYAMA IS STILL A WASTE OF MEDIA SPACE!!! BOZO THE CLOWN IS BETTER SUITED TO GIVE ECONOMIC ADVICE!!

  107. #61 did you watch yesterdays news or just read it on LT.The termites did chew the whole 7m but the bank was able to refund the 3.5m coz the serial numbers were still there.

  109. With the area being too sandy, how did the termites manage to go through it cos I hear it difficult for them to tunnel through loose sand.

  113. This has nothing to do with being lozi or whatever tribe. Villages all over Zambia are just the same. Its unfortunate that some of you only know your villages. Travel and know your country. Why do you look at a tribe every time you hear something happen to an individual in one of the villages/towns in zambia? Your analysis must based on an individual and not a tribe. do not trivialise issues. You seem to be highly educated but ignorant charlatans. I am not lozi but have observed this kind of behaviour going on and on especially when you hear a fun story from one of the villages /towns in zambia.

  115. Are there no banks in senanga you people surely? I hope others have learnt a lesson from this. Ubufontini tabwapwa zoona! In this era burrying money!

  116. What is liverpool doing with a zambian flag?
    To be honest banks (some)in are not so good in mobilising customers.Villagers feel intimidated to go the bank to put their own money.Withdrawing your own money sometimes becomes an issue.Until things change this will continue to happen.By the way these are the known cases.In cases where the owner of the money died accidentally the money becomes composite manure-Tough

  117. #108, I know Inswa, never loved the taste. Enjoyed catching Mafulufute though- if you know them. Caught lots of them, never ate them. Missing FINKUBALA right now– (Ifishimu).

  119. #107. Thanks for the info. I am in the diaspora ,so I only read it on LT. I know most of us making noise are out of the country, having said that, this is the best forum for bieng in touch with ZED. Good job LT.

    Home is Home!

  120. this man was a Tonga, I know him, he is from Gweebe Valley, He came to my bank crying “Badi imbida mali angu” we gave him back his money. Hi real name was Hakainde Hachilema!!!

  122. I can only imagine the scenario….Grand pa:”Mawee Mawee, nishwile ni ma loi yamwa senanga. Masheleng’i yaka! Mina batu, ma sheleng’i yaka kwanu.

    Frank Lungwangwa: Kuku….king’i?

    Grandpa: Nai pulaya, nifelile!

  124. Sorry nachilaba ukubikapo inshi lyandi pa 123 ndebofya PC yimbi. Nini taka taka ba shinka manyela……………

  127. #55 – Thats true. Mr Chibamba Kanyama should not exajerate the way he speaks. If he wants to speak like British or Americans, thats not the way they do it. He should just revert to the way he used to before he grew fat on the (mbobvu) chics.

  128. Sorry old man after all the hard wrk,plz pipo who hve gone 2 school and know tht risk of storing monie in the house try to educate your relative espcially our old relatives who only think tht banks are thre to steal monie lets not blame the old man lack of knowlge.

  131. Its really a sad development and please people can we display some maturity when passing our sympathes or when giving advises. Its very sad to lose a a cent and here someone has lost a huge amount of money and all you say is ‘go and hang yourself’ thats really sad.I have lived in the village for about 4 years when I was doing my studies and you cant like the primitivity that people have in the rural areas. No matter how much you try to educate them on something, they will never just change, so let the teachers in school do their part by educating the children while young so that their know the advantages of Banking and other things. For Chibamba, he is a very good Economist.

  133. yes chibamba maybe educated but to me is to theoretical,that at the end the day he says nothing tangeable,As ENGINEERS we believe in practical and tangeable things

  137. kwaamba musaa u re a minister of finance if i was 2 b come a president.so ba tonga badala re very intelligent.y did ur contract end at zsic?so whats next?

  138. I think i cant blame my old kaka(gland father) for his loss. Its just as worse as he could have been exploited if he kept the money in the bank. Yes profit is there but these banks have worse conditions on such poor Zambians like my Kaka in Senenga.

    My plea is that let there be good control of these banks’ conditions before villagers can be educated to bank with them!

    Im very sorry Kaka for this tragedy.Don’t worry God will provide suicide is not the solution.

    God bless you!!!!

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