THE Lusaka High Court has set Tuesday next week as the date for judgment in a matter in which former First Lady Thandiwe Banda asked the court to order with costs, the reversal of the restriction notice placed by the Anti-Corruption Commission (ACC) on the Mpundu Trust Limited on Leopards Hill Road in Lusaka.
Judge Dominic Sichinga who is presiding over the matter has set April 2, 2013 as the date for judgment in the matter.
Ms Banda of Villa Number Three, Plot 2758 off Leopards Hill Road, New Kasama who sued in her capacity as director of the project, wants the court to award her damages for the loss of time on the project claiming she was the lawful owner of the property at Stand Number 1F/488A/29A, Leopards Hill Road.
She said she applied to Access Bank Zambia Limited for a loan of up to US$600,000 for the completion of the construction of the 12 residential properties.
She said Mpundu Trust Limited was established in 2009 to look after the interests of her twins and their future education and health needs.
Ms Banda said on April 9, 2009 the bank offered her the loan and on February 16, 2011 she again applied to the bank asking for a further loan of up to $1 million for completion of the construction.
Access Bank Zambia Limited has also joined Ms Banda in suing ACC saying it had an interest in the matter.
In 2011, President Michael Sata has instructed law enforcement agencies to probe the US$ 1 million held in Rupiah Banda’s Mpundu Trust Account linked to the construction of posh flats in Kabulonga.
Former president Banda was linked to money laundering and abuse of office in relation to the purchase of Plot No. RE/A/29/488A Leopards Hill Road, Kabulonga.
According to a statement by special assistant to the President for press and public relations George Chellah, President Sata’s directive came in the wake of revelations that Mpundu Trust had unexplained funds in one of the banks in the country.
Sata at the time said that the decision to probe Mpundu Trust was without malice or ill motive but to simply set the record straight by ensuring that the due process of the law was followed.
“Information we have received is that Mpundu Trust is holding over US$1 million with one of our local banks,” Sata said.
“Considering the colossal amounts involved in this bank transaction, I strongly believe that it’s only fair and prudent for the Drug Enforcement Commission (DEC), in liaison with other law enforcement agencies to professionally and systematically investigate this matter. Let it be known from the onset that the decision to probe Mpundu Trust is without malice or ill-motive but to simply set the record straight by ensuring that the due process of the law applies.”
Oh,lets go after Thandiwe Banda while ignoring the big log in Mmembe’s eye !Makes perfect sense if you don’t believe in equal justice or havin sacred cows.Afterall the river (or the law) should only follow the course you choose for it ,right?
We all know all these cases will collapse at some stage. Can you picture Thandi or rupiya being jailed ? I can’t so why do we bother bushe bane Nama cases aya ?
Chanda, they can’t be jailed when they are not guilty. This witch-hunting, knee-jerk leadership is costly. She is winning this case, hands down and the taxpayers are going to pay for it.
There is something wrong with this bank. It was also mentioned in oil deals for Banda. Looking at the money involved, it was too huge for an individual who is not even in formal employment or a business person. $1,600,000 in Zambian kwacha is about K8 billion or KR 8 million. That is too much money to give someone without collateral. Did the bank do a KYC on her and found out that she had collateral enough to cover that loan in case she fails to pay? Anyway, Going by Zambian laws, she will win this case but I believe these other cases RB is facing will be linked to this deal. It was not a normal business deal.
Ba Kwekwe, the checks you are talking about apply to common persons like you and me. Has it occurred to anyone that the farm in Chipata has value? Furthermore, it has been know for venture capitalist to fund projects without collateral so long as the project itself has potential. In this case these properties in the title deeds were held by the bank are collateral by themselves until the loan is redeemed. In all walks of life there are general cases and special cases. I wish I would have such special treatment as well.
[email protected] . Which farm in Chipata are you saying has value to recover a loan of $600,000? Stop misleading people.
Ba Mfumu, which Bank do you work for? You think being a wife of a president is a guarantee for one to get such an amount money from a Bank? Not for modern Banks. Maybe Nigerian Banks. Yes, if it was 100,000 usd or 250,000 but 1.6 million is too big. have u been to Rbs farm.you think that farm is worthy 8 billion Kwacha? my foot!! For your infor most banks such stanchart are very reluctant nowadays to give huge sums of money to individuals for real estate going by what happened in the US
Its not wrong to get a loan as long as that loan is not used as a front for money laundering as is the case here.
Its inconceivable and utterly astounding that any bank could give a $1.6Million loan without any collateral. This smells like reverse payment and not a loan.
The bank was just used to clean the loot
The Sierra Leonean girl who met Gaddafi ‘in hell’
Sierra Leone’s over 50 years of religious harmony is under threat thanks to the bizarre revelations of a young woman.
Sister Linda Ngaoja’s ‘heavenly journey’ a few weeks ago has turned her into the equivalent of a movie star, but at the risk of destabilising a country renowned for its religious tolerance.
The 28-year-old (some say 26) college student claims to have “died” and gone to hell before being taken to heaven.
While in hell, former Libyan strongman Muammar Gaddafi told her he wanted the mosque he built in Sierra Leone destroyed and replaced with a church.
She also has a message from the late president of neighbouring Guinea, Lansana Conte, who wants all the mosques in his country brought down and replaced with…
Sister Linda “died” after a brief illness. She said because of her worldly crimes in her previous life, she suffered a harrowing experience in hell, where she met her parents and a host of other renowned people including a renowned Sierra Leonean lawmaker, and the late US star Whitney Houston, “who are all suffering in Hell.”
All of these people had messages for their relatives and friends who are alive.
Sister Linda said if a “rapture” had occurred at that moment only five people in Sierra Leone could have survived it (meaning going to heaven), and these included three of her pastors and two other people.
While her audio tape comes across as a rich blessing for cassette sellers, religious leaders are left with the unenviable task of cleaning the mess Linda`s revelations left…
left in their wake.
Breeding confusion
“We take and consider this our responsibility to judge every such revelation by the standard of the written words of God,” said Bishop Archibald Cole, president of the Pentecostal Fellowship of Sierra Leone (PFSL).
He told a press conference on Tuesday that since the young girl was purportedly speaking from a Pentecostal platform, Catholics might think her revelations were the views shared by all Pentecostals “and so we consider her statements…..will create confusion and breed division among the Christian community in Sierra Leone.”
According to Linda’s revelations, all Catholics and Muslims are going to hell.
She also had a message for President Ernest Bai Koroma (a Christian), to replace all mosques in Sierra Leone, which is a…
Ba Kwekwe, Mfumu is right. Remember that each bank has its own rules. Even the Stanchart you mention sometimes engages in name lending. Name lending occurs everywhere in banking, even in the U.S. Generally, banks will say in their lending regulations that they will not engage in name lending but they still do depending on either the institution or individual as well as the structure of the transaction. Name lending is not good banking practice but it happens. I’ve worked for three international banks and I’ve seen it happen in all three cases. In Thandi’s case, the bank probably was driven by two factors: (1) President’s wife (2) Structure of the transaction.
Ba Sisi, how do you think real estate moguls build their empires? They use similar structures. i.e., the property itself is collateral. For example, Donald Trump does not entirely own a number of the properties in his portfolio because they are encumbered to the financiers of the projects. The loans are structured in such a way that they become self-liquidating from rentals. A bank may not give you $1 million to build a rental property in Chawama but they might consider when it is located in Kabulonga. In Zambia, unlike in the developed world property values usually head north rather than south so that gives the bank some extra comfort in case of default. Moreover, in 2009 Thandi was about 32 and still able to borrow a 20-yr loan.
There’s no case. Just leave Mrs Banda alone. It is not a crime to get a loan. MCS is very backward and evil.
thandiwe was a teacher earning a meagre salary who got a loan of $600 000 ? against what her grz salary. Mortgages are given in relation to salary-even if you add rb salary it still does not add up
Al, this is rental property she borrowed for not one to live in. So, provided the bank was happy with the location of the property and viability of the project they could lend to her even on a teacher’s salary. I’ve done mortgage financing before and I know this kind of structure is not uncommon. People forget that a family friend also provided security for the transaction. If she had $1 million dollars right away, why would she want to borrow? Unless, it was to be used as initial collateral that would then substituted for the property once the project is completed. This is just another way in which the transaction could be structure.
The more Money the more Problems. Money is the root of a lot of evils. The harder they come, the harder they fall. Simple physics, no brainer
Dont link money to evil, money is a very good thing, even the church depends on it.Poverty is the root of all evil. I personally love money, it makes my life easier and im with money, im not tempted to do evil things.
Easpecialy stolen money ,it will haunt you to your grave.By the time ACC is finished with these two they will have no cells in them.Look what happened to Chiluba.
Scramble for loose Zambian money! Is a the privilege they had or abuse? But how can the whole family be in the same web? What about her property in Malawi? I guess she got another loan from a different Bank, after all she was the president’s wife! Is this just persecution? I wonder!
Thieves broke into the account office of South Sudan President Salva Kiir and escaped with an estimated $70,000, a senior official said on Thursday.
Mr Chaat Paul Nul of the communications department in the President’s Office said investigations were ongoing and dismissed earlier reports that about $2 million had vanished.
“They broke a hole from behind and went in,” Mr Chaat said.
“The full investigation will establish how they got into the fence which is under tight security,” he said.
Minister in the Office of the President said the theft happened on the night of March 15.
The circumstances under which the cash disappeared have stirred a debate within Juba, lending credence to existing perception of corruption within the government.
I hope she wins this case.There is no law in Zambia that prohibits getting loans.Let the ACC pay her the monies she has lost so that they are more serious with the cases they pursue.Political witch-hunts should be discouraged
thandiwe was a teacher earning a meagre salary who got a loan of $600 000 ? against what her grz salary. Mortgages are given in relation to salary-even if you add rb salary it still does not add up
Yes, there is no law that prohibits anyone from obtaining a loan in Zambia. But, like in many other countries, the loan has to be legit. You can’t be buddy, buddy, with the bank just because you are the first lady and get a loan that way—it is called INFLUENCE PEDDLLING and it is illegal. This is done in order to avoid the so called “FINANCIAL MELTDOWNS” we witnessed in countries like the United States not too long ago. And guess what caused that crisis: Yes, FRAUDULANT LOANS!
How do you extend a loan of $1.6 million to someone whose only occupation is FIRST LADY? How do you expect such an individual to repay the loan? And if the bank collapses guess who winds up on the hook for loses; TAXPAYERS, they are the ones who have to clean up the mace. And that’s what is WRONG here!
But I hope she is clean and wins this battle because, all things considered, I liked Thandiwe, she wasn’t such a bad first lady really.
@Yambayamba, stop this nonsense of yours. She borrowed the money to invest in real estate to be rented out. I have done the same hear in the UK under a facility called “Buy to Let”. I do not have the £475 000 with me in the Bank but my bank thought it was a good investment and proceeded to give me the loan . You chaps were damaged by Kaunda’s idiocy you do not know how a free enterprise society works. You’re backward!
@Goncalves, you do realize a “Trust” (I am guessing it was “Mpundu Trust Fund”) and an Investiment/Business loan are two different things, right? If it was an investment/business loan, why did Thandi take it out in her children’s name and how can a credible bank allow such a thing?
Like I have said already, I have nothing against Thandi and I hope she wins. But that’s what investigations and courts are for.
@Yambayamba, the investment is held in Trust for her children. There’s nothing wrong or untold about this. If you have children I would advise you to start investing in various assets or financial programmes for your childrens future. Thandiwe has simply invested in real estate which she will put on rent. The rentals will go to repay the mortgage. The Houses in the meantime will be held in a TRUST for her children. The Houses will be handed over to the children when they are adults. My dear this what modern families do. Just join the 21st century. There’s no criminality here!
@Goncalves, please don’t act smarter than you really are! Look, how can you hold something you don’t own in “TRUST” for your children? I hope you do realize that for as long as that loan was outstanding and not paid back in full the investments (apartments) Thandi was putting up belongs to the bank, right?
In case of death (God forbid) or failure to finance the loan the bank can grab the property back, even 30 years down the road. So, how do you put such an asset in your children’s TRUST? That’s really being stu.p!d, isn’t it?
And if this is what you are doing to your children, you are cheating them and I advise you to seriously reconsider the way you are going about investing in your children’s future. Inkongole is not the kind of asset you should give to your children,…
Yambayamba, thanks for the vivid explanation. If Gonclaves did not get it, most of us did.
So if you get a loan and the bank agrees they gave u a loan it becomes a case under micheal Sickly Sata.
I think his brain is being eaten and puffing up his face.
Go kiss a toilet sit. If you have nothing to contribute rather than the venom you always puke, funga kinwa iwe kapoli.
Wow that was a lot of money and could definitely raise eye brows. Anyhow when everything has been found to be without blemish, she deserve to be compensated for time time losses on her project.
The appearance of impropriety does not imply corruption.We’ve got to have rock solid reasons before going after people otherwise it’ll be damn wasteful and costly for taxpayers to always be compensting innocent folks.We’re all losers in such scenarios.
Why don’t we wait and see instead of fishing in the air?
Rubbish Satanic style of dealing with issues, it is jealous and hatred.
Why didn’t she apply 4 those loans or form that trust 4 her twins b4 her husband became President. I think strongly tht this was indeed a money laundering scheme entered in2 with this bank. Is she saying that it’s easier 4 th President nd his family to access loans from local banks coz they are in power while ordinary citizens can’t have access to such privilages? Something is serious wrong…
Gee some people really need to enroll in critical thinking classes.Ofcourse its easier to get a loan when you are first lady.Banks take a risk in giving loans and the high you are in society the lower the risk.Do you think any Kaponya can get a loan? ie not in a Kaponya lead government
Isn’t it also easier to get development in an area if the Member of Parliament in that area belongs to the ruling party? Same reasoning her!! So leave Tandiwe alone. By the way some bloggere here don’t seem to own property so they have no idea about the value of any property so those billions being attached to the value of Thandiwe’s flats just throws them off – poverty pa Zed. Invest in a building and watch its value grow. Of course you must ensure you keep upgrading it to see the growth in its value!!
Why should you dictate when she applies for a loan? Do you see km permission on when to make your financial decisions?
Imwe ba fee colour tukamipepeka Ukwa nga afwa. Naiwe mwaice George ayo amayanda ulepancha icipanchepance! Even if Ukwa is alive by 2016, we will strip him of his immunity and de-bombasa him to expose the urine bag. Chi madam will also be dancing pelete while explaining K1.5 billion. My Chewa ancestors were not wrong when they came up with the saying caona m’zako capita mawa cilipaiwe. Elo imwe fi Pama Fi ka popularity kavana bwangu!
Wafwa ne chanso. You wanna start a war with the bembas? Ask Mpezeni himself.
Thandiwe explanation is stupid, firstly the money involved is alot, secondly why didnt she apply for this loan when she was just a simple civil servant as a teacher? Why acquiring US$600,000 loan as first lady a position which you dont get paid such,while teachers cant even afford such a loan? futher more she applied for another $1million loan, common guys this is clear theft and money laundering , i now believe RB nipompwe and should be jailed period.
Why is he sneaking into south African embassy if he is innocent,Is he seeking asylum?shameful useless old man.
Until politicians born before 1964 are done away with, expect no change!
That is mean brother. Those politicians are our parents and how can you hate older people so bad?
More money for Thandiwe and RB, there is no doubt that government and SATA will pay heavily for their loud mouths and lack of patience to investigate before taking action.
Thandiwe you are an intelligent woman, you think about your children’s futures.
foolish decisions by pf will cost this country dearly, wait and see. DBZ money by real crooks not yet paid upto now surely
Just to educate some PF Sponsored Kaponya bloggers on this site about how banks operate because there seem to be too much ignorance and Kulima Tower .
Am no lawyer but I don’t need to be one to know this.
1) There is no law in Zambia that dictates conditions upon which loans can be advanced to individuals. Private Bank take their own risk when they lend and the state does not assume that risk. Remember the Ninja loans in the US financial crisis? I don’t think that changed the law in Zambia. I know South Africa has NCA and the US now has something in place to prevent reckless lending that led to 2008 crisis. Even if there was such a law, it is not the fault of Thandiwe. It will be the fault of the Bank for lending recklessly
It’s not about the loan it’s more about abusing ones position to obtain loans and advantage. Also we all know RB used his wife in this transaction. Plus the issue of how he got that particular land where the posh flats are being constructed. You should be objective rather than call all PF supporters Kaponyas.
I agree with you, the National Consumer Act prevents any financial institution from lending money to any person without conducting an affordability test. As natural individuals and some trusts fall within the ambit of the said act, I doubt if such a sum of money could be advanced to a trust with no borrowing history,in South Africa. I wonder what form of security the bank asked for?The property itself in its unfinished form does not offer much security as some of the monies advanced went towards the purchase of materials,labour etc which had not yet been incoporated into the structures. Most banks in South Africa would have gone for progress payments for this time of loan. Funds are released for the work done in stages. But then again there are speacial people like Malema & Thandiwe.
I would rather be called a PF Kaponya and am not stealing than an intelligent person but a pathological thief who has stolen and now looks misearble after the law is catching up. Bombasa is removed and thrown into the victoria falls, the crocs have eaten it and someone is crying for it to be restored. The only way the Bombasa can be restored is to try to convince Zambians to vote for you again. But sorry, you should have no criminal record like my Presdinet Mr Michael Chilufya Sata. He is clean that is why he is President of Zambia. The man is full of action and he is cleaning the dirty left by MMD. After my President Michael Sata, we have many aspirants who equally clean and they are doing a clean job. Yaba nomba MMD, the whole team are mambalas including wives and children. Yaba.
Having a small brain in dealing with issues can be a problem sometimes. I have noticed a number of bloggers have extremely shallow analysis. For them, their analysis is Sangwapo. Indeed, i am also interested to hear the court’s ruling on this issue which i will respect being the organ in charge for such issues. However my analysis is that Access Bank is a Nigerian bank, and RB s’ charges are linked to to a nigerian oil company. Access Bank is reacting in a panic mode because it is a well known fact their dealings in Zambia are dubious. I think PF have a point on this issue but i will still leave to the courts to make a final decision.
You’re just an illiterate kaponya.
Remak, I am against corruption and for the prosecution of RB because we know he stole, but sorry brother, here you are just an ***** bellowing all the tantrums you can think of. Grow up.
Bloggers let us be logical on these issues. Being a President’s wife cannot make you acquire collateral to support such a big loan in less than three years. I will undertsand if TB had probably been in state house for a while or after state house, one might speculate that she could have acquired the wealth with time. What collateral did Access Bank use to give a $1000,000 to TB? This has a possible pointer to dubious dealings of the husband. Again i will wait for the learned people to make their wise ruling.
Go back to school.
2) The issue of Thandiwe being a teacher and accessing a loan from a private bank can never be a crime. That is the problem of the bank management , board and shareholders to question and even fire the board.
It is not the Job of the Zambian Government to sort out. Maybe they can do it in ZANACO where they own shares. Not in a private Bank. So those questioning Thadiwe’s teacher salary in this deal just show how Kulima Tower School of economics is a Kaponya school.
The Bank could have given the loan based on Thandiwe’s husband future retirement earnings and also on the fact that the money was being used to build an ASSET that they could grab in default. This makes perfect sense in terms of risk management
My dear the illiteracy of these PF people is beyond comprehension!
What retirement benefits?
All of us on this site are speculating. You say the loan could have been given to Thandiwe based on her husbands future retirement earnings and the fact that the bank was financing an asset. Initially RB was not even part of the trustees or beneficiaries of Mpundu trust, so why should a loan be given based on his future earnings? In any case the decision to give a loan can not be based on future earnings and the fact that you are financing an asset alone. Upon death future earnings cease. If based on future earnings then I would like to see the life policy for R15 000 000 which RB took out. If the property was repossessed today how much would the bank sale it for? For a loan of R 15 000 000.00 at 8% interest with a mortgage over 20 years gives you a repayment of about R 130 000.00 a month
ms banda or mrs banda?
3) In a normal society where the DPP was independent, this case would have been discarded, but because it is a directive from the most power office in the country, the DPP has decided to stick with it. I look forward to the Tuesday judgement. It will be ground breaking and an interesting judgement worth studying
4) Also another misconception in the minds of these Kaonyas from the Kulima Tower School of Economics is that in risk management collateral means that you have in possession the equivalent asset worth the amount you are seeking the loan for. Any basic economics you tell you that is a wrong assumption because there is now risk to manage in such a case.
Where did you guys learn that?
There million of cases where people and companies have accessed colossal sums of money way above their worth. But they got access that that money because of the fact that they convinced the money market about the plans of how the will deploy new capital. Richard Branson, Bill Gates and many more followed the same route to their worth
5) Investors all over the world , including banks will fund anybody to who has a great idea that will guarantee that they could recover their money in the long term even if they don’t have collateral equivalent to the money they are asking. This is standard everywhere.
Thandiwe’s projects perfectly fits into this category
I hope I have educated and inspired all your paid Kaponyas to release that IDEAS are more important than the physical collateral you have. There is a lot of money in banks looking for a home where it can be put to work on great ideas and generate more capital. That is how real capitalism works. Great risk takers get greatly rewarded
Let the law take its course
RB and his wife should clean up their story which is pretty messy.. You say you accessed loans to the amount of $1.6m in 2009 which you say built the property as it stands today, in addition to Loan Interest + Capital repayments to your financiers (Access Bank), yet you still ended up with $2m in your Property development account after all expenses… You must think people are dull.. I suggest you go back, rethink your explanation for source of funds, ensure the numbers add up and reconcile, then get back to us.
Mutembo and Membe’s ADB loan isn’t being questioned here? Ah I forgot, The Post and Monica Chumya clinic were enough collateral. Have these properties been grabbed? Hell no! Not even sniffed.
The stuff you’re smoking must be very powerful or better still why don’t you try writting fiction!
Get your facts right. Mphundu Trust does not have US$2 million in their account. Stop harrassing the Bandas for no good reason.
This is indeed a very primitive government run by a bunch of lame dicks and whores!!
RB & Sons,a criminally challenged family.Stealing and willy dealing seems to be RB’s family legacy.
The way some MMD sycophants think, no wonder MMD failed our country and corruption became RAMPANT and “NORMAL”. How can such a colossal loan of $1.6 million given to an individual with clearly limited means to repay it not raise suspicions?
Oh, the first lady is not like a “Kaponya” so all common sense banking rules and regulations have to be thrown out the window, REALLY! Where on earth can such a thing be tolerated? Well, Maybe in DR Congo or Nigeria. But definitely not here in the West, and First Ladies here have sounder financial bases than any Zambian first lady will ever have. But even here, that kind of a loan would unquestionably attract some serious scrutiny—believe you me!!!!
Iwe she made an investment in real estate. How daft are you? It is not your bank for God’s sake. The Manager’s of Access Bank regarded it as a sound project. Period!
Are you aware tbat the Citizens Economic Empowerment Fund gives out loans on the basis of the business plan being good? Instead of being so envious try using your brain to think of a bankable idea instead of filling your head with hate
These guys owned the whole world talking of millions of dollars while poor poor zambians whallow in extream poverty zambians are crazy when they are in power they dont care anybody else
So what is your point? There’s nothing wrong with Thandiwe getting a loan. Should she stop investing for her Children’s future simply because there are some people starving? Besides this a loan from a private bank. Its not government money.
if you lunatics look at the property on leopards hill road you will agree it worth more than usd600,000. A bank a give a loan and supervise the project including returns until they recover their money. The title of this proverty whose value is well over usd600,000 can be kept by the bank.
I also question the credibility of the Access Bank. The manner in which they dished out these huge amounts is questionable. Thandiwe is a primary school teacher and how she qualified for these loans is suspicious. It seems it was easy for her to get all these monies in 2009 when her husband was president and not before that. Something is not right here and RB and his wife and the Access bank must be investigated. There is no witch hunt here, it’s about white collar crime.
You’re just jealousy! Besides its their money.
This gal is on fire! handling such investment in Zambia? Mamamamamamamama, nowander ichikuluchonse chiliya crazy on this gal, gal power takangasha kaliba dribula, ba judge will take one look, bakapele fyonse back, only problem nichinkote, if she was single, it could have worked out, Thandi divorce that old man, you will see how all will work out, you dont need him anymore some men are just mashamo mwe!
TB and RB are thieves who need to be locked up for stealing money from the poor. Honestly, a pupil teacher overnight gets a loan of more than $1.6million. Where on earth has this happened if it is not stealing. No wonder some bloggers are so annoyed because some of them are recalled, others are now wallowing in poverty after thriving on stolen money. Mwalakakwa bamambala bonse. Ifwe nitaimu yesu yakubika bola panshi to develop Zambia. Ine ndipe kuno under airconditioned room, diplomatic immunity mmh. Bamambala mulekakwa for stealing.
Then this dubious bank called Access, we know it’s dealings in Zambia. Ask the people who have worked in this bank and they will tell you how rotten it is. Actually it explains it as the financiers of TB and RB. Honestly speaking, if TB and RB where genuine, the loan most likely could have come from reputable banks but you know why it came from such a dubious bank, it can only be money laundering. More is to come out of the dealings of Access Bank and TB/RB. Ndeloleshyafye ine pantu ine nitaimu yandi yakubika development ya Zambia patanshi unlike the former who instead assumed the role of stealing. MMD is finished. It is even failing to contest By elections caused by themselves. MMD is finished. What do you expect about a party hijacked by thieves?
RB and his wife Thandiwe lived modestly on their Chipata farm and when they became president and ‘first lady’ suddenly they started swimming in millions of US dollars. How possible is this? Simply because of abuse of limitless powers supported by immunity, and that’s the bottom line. Let the law take its course.
Is that His daughter in the Picture or???? Then if its a wife ARREST him for Child abuse
Its a grandchild namangobe.
Let the distant drums sound the arresting call for the thieves including Gonclave, Chief Buttyliker MMD etc… These are theives hence the defence of fellow thieves
Did she get a loan or a mortgage? In major economies in Europe, you need to pay a deposit to get a mortgage. If it was a mortgage, how did she end up with money in her account? There are thousands of people in Zambia with fantastic business ideas which can employ thousands of people, do they have access to such loans? Come on, tell the truth!
If you have a good business proposal take it to Access Bank instead of being consumed by envy.
We wait to hear the judgement. But the $1.6 million loan with no security is very doubtful. Let the court of law tell us what this means.
Peace and Prosperity to Mother Zambia.
hAS ACCESS bank complained????
This lady of Khuyu village Chief Miyombe of Mafinga district getting a k1m loan what collateral did she have to deposit to the bank?
The husband prior to being grafted in, in Mwanawasa’s government had resorted to using buses when travelling to Chipata from Lusaka citing high cost of fuel to drive personal car. But can now afford a team of lawyers and a police bond of KR500000.
As a strong Christian, I don’t envy such wealth, I would rather walk than loot/plunder the nation’s resources.
Which account did they loot or plunder? Does borrowing from a bank amount to looting or plunderring?
Am sure they have sleepless nights,court cases everyday no peace of mind ,one of them will commit suicide,you can never be at peace with stolen money.
Money stolen from where? You will commit suicide when your tax payers money is used to compensate the Bandas.
Corrections, I meant “§1m” and not “k1m” then its chief “Muyombe” and not “Miyombe”.
happy holidays
@KweKwe, $1,600,000 IS TOO MUCH MONEY FOR YOU BECAUSE YOU OWN NOTHING.
I AM ONLY 33 AND MY BUSINESS INVESTMENTS ARE CURRENTLY GIVING ME A TUNE OF $1,000,000 ANNUALLY. IF YOU KNOW HOW TO APPLY YOUR HEAD, THAT’S LITTLE MONEY. ACCORDING TO MY BUSINESS PLANS, WHICH ARE WORKING AS PLANNED, IN FIVE YEARS, I WILL BE EARNING AN ANNUAL TURNOVER OF ABOUT $9,850,000
AS AT NOW I AM ABLE TO GET A LOAN OF $500,000 WITH NO COLLATERAL FROM ANY OF MY BANKS BECAUSE OF THE PERSONAL IMAGE I HAVE BUILT WITH THEM.
IN A SIMILAR MANNER, THE FIRST LADY COULD HAVE GOTTEN THAT LOAN WITHOUT ANY COLLATERAL BECAUSE OF HER PERSONALITY!
USE YOUR HEAD
By reading most of the comments I am of the view that very few Zambians understand money laundering.Money laundering is done in the sophisticated way such a simple eye can not detect it.Mexican drug lords pay a lot of money to people or banks who clean their money (for example by you your money as a ‘loan ‘ ,the bank is credited by a company which purportedly did business with the bank).Follow the $1000000 and you will encased in a web of sophisticated graft.FBI has a special investigation wing for this kind of graft and just hope is getting necessary help and consultancy to make people desperate and I hope they will do it professionally in order to shut the yapping!In criminal investigation, usually a guilt convict asks for a lawyer in order to get away with crime.