Over 150 youths in Luapula Province have threatened to take legal action against the Cooperbelt Youth Forum for allegedly swindling them out of millions of Kwacha.

Some affected youths told ZANIS in Mansa that the Cooperbelt Youth Forum had allegedly obtained the money as security to accessing the forum’s micro loan facility.

The youths said the Forum needed the administrative and security fees which ranged between K1million to K4 million per applicant to qualify for the loans.

“We want them to repay our money in the same manner they obtained it. They have unconvinced us a lot because we wanted these loans so that we invest in profitable projects to earn us a living because we are unemployed,” the youths said.

And Luapula Province Youth Forum Chairman Henry Mulenga said the Cooperbelt Youth Forum obtained over K400 Million from various individual youths and youth groups in six districts in Luapula province.

He said the Forum owed youths in Samfya K95, 5 million, Nchelenge K 86, 6 Million, Mwense K75 Million, Mansa K60 Million while those in Kawambwa and Chienge were owed over K41 Million respectively.

He said the Forum in the province was overwhelmed with complaints from various youths affected by the situation because they had not accessed the anticipated loans despite paying the required fees.

Mr. Mulenga said the youths that had earlier thronged his office have since threatened to take legal action against the forum if it did not repay them their money.

He said the Cooperbelt Youth Forum initiated a Micro-Finance Credit Facility to administer loans to youths on the Copperbelt but scaled out the facility to other provinces such as Luapula.

Mr Mulenga said the Forum has recently plunged into financial problems a situation which has incapacitated their provision of loans to individual youth groups who applied for the facility.

Meanwhile, Government has disassociated itself from the operations of Copperbelt Youth Forum.

In a press statement recently minister of sport, youth and child development Kenneth Chipungu said the Copperbelt Youth Forum was a Non Governmental Organisation (NGO) which had its own objectives and constitution.

He advised the affected youths to request the institution to refund them the money they paid as requirement to accessing the loans or take legal actions against the forum if it failed to repay them.

Efforts to contact the Copperbelt Youth Forum failed.

ENDS/CB/PK/ZANIS

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18 COMMENTS

  1. Poor investment rationale. The youths of today are so quick at wanting to make bucks to such an extent they will not seriously question schemes that look suspect.

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  2. The get rich quick syndrome or earn easy money attitude is overwhelming Zambians like no ones business. Imagine magistrates being swindled into believing that someone will see them into foreighn service so easily. Poor Zambians, its time we learnt that money just like teeth takes time to make and grow.
    Even RB is busy swindling us in the name of running the country and all we can do is cheer him all the way to the bank. What a shame. We need to be healed of this national disease plagueing Zambians of all shades and hues.

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  3. Yaba, nacelwa..anyway, it’s lunch time nomba. Baby C na Ba Maureen…go for it.

    I will comment later…

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  4. Kwindi, i agree with you. Everyone wants to own a house, car, some form of business, name it.Thats why they are going to such lengths…

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  5. Very evident that they where using the borrow from John to pay Peter strategy. This year prisons will be full of thieves.

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  6. :)) This still happens in Zambia. I remember a lot of these NGO’s , charities, youth groups and church groups were the most profitable businesses. Just promise a few disillusoned people of impossible dreams at a price and watch the money flowing in

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  7. “Over 150 youths in Luapula Province have threatened to take legal action against the Cooperbelt Youth Forum for allegedly swindling them out of millions of Kwacha.”
    Bemba people in Luapula have been swindled by possible Bemba people from the Copperbelt. What are shame! How can you let someone con you into paying money as “administrative and security fees which ranged between K1million to K4 million per applicant to qualify for the loans”?
    Some charcters always claim that they are clever, but this swindling leave much to be desired. I have never heard of a such behaviour for Banks ask for other things like buildings security.
    I sympathise with those that were duped. Beware of liars!

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  8. 15 continued.
    Some Zambian Presidential aspirants have a character that is of dishonesty in they way the operatoed while leading Zambia under the former President Chiluba MMD GRZ, but now are telling you Luapulans hilarious comedies and you vote for them even when their selfishnessness and lies are clear before your minds and eyes. This swindling is an example of what those characters you blindly vote for can do to you this time for the whole Nation Zambia.
    Can you please Luapulans work up from sleeping and do better next time especially in the coming 2011 voting. Otherwise, you’ll continue crying foul!

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  9. It is pity if one can start jokes on this matter. What is the police doing about it? kabwe, Mkushi and Serenje are also crying the same cry. Who is the director of this NGO?

    Please arrest him. I am told it is doing well in Mpika, can someone tell us.

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  10. Half of Zambia’s population is now aged under 16. It has never been more important to ensure that the young are well educated and that the economy grows to offer employment. Don’t mess with them – nurture them. Otherwise there can only be trouble.

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