The Citizens Economic Empowerment Commission (CEEC) has clarified that Aluworks Industries Limited a company co-owned by Commerce Minister Margret Mwanakatwe and her husband Mupanga Mwanakatwe qualifies for economic empowerment as a citizens owned company under the CEEC Act no.9 OF 2006.
CEEC Public Relations and Communications manager Glenda Masebe has told Qfm news in a statement that the company got a loan of K945,000 (rebased) in 2009 from CEEC.
Ms. Masebe says Aluworks Industries LTD is among the 144 applicants whose loans were approved by the commission between 2008 and 2012,adding that the loan is still active on the CEEC loan book.
Ms. Masebe has also dismissed allegations suggesting that the commission has been giving loans to senior government officials and other people who are well to do at the expense of the poor Zambians.
She says the CEEC a transparent and professional loan approval system in place and that only eligible and bankable empowerment proposals are approved by the commission.
Ms Masebe adds that the commission has a policy in place to priotize empowerment funding to rural areas, women and youths.
[pullquote]“CEEC supports all citizens, hence the name. It is not just for the poor but all citizens to ensure that they take part in the economy.[/pullquote]
Ms. Masebe states that between 2013 to 2014 the commission approved 1,892 loans for targeted citizens valued at K108 million,with 92 percent of those loans benefiting rural applicants, 27 percent women and 35 percent youths.
Yesterday, Mrs Mwanakatwe said that Aluworks Industries borrowed funds from the Citizens’ Economic Empowerment Commission (CEEC) after presenting a bankable project.
The minister did not understand the motive of bringing a private matter into the public domain. She also dismissed assertions that there was political influence for the company to obtain the loan and that Aluworks, which she owns with her husband, Mupanga, borrowed from CEEC like any other company.
Aluworks Industries is specialised in making roofing sheets.
Mrs Mwanakatwe said Aluworks borrowed from CEEC to enter an industry that is primarily foreign-owned.
“This is many years ago, we are trying to get Zambians to be part of that industry. Aluworks Industries benefited from CEEC support and we are very grateful,” she said.
The minister said at the time the money was borrowed, she was not in the country and that it will be repaid in full.
“Circumstances are such that when you borrow money, it can take a bit of time to pay back, but this is a company that will pay back because these are public funds,” she said.
Mrs Mwanakatwe said there was no political influence at the time the money was borrowed and there will never be.
“CEEC supports all citizens, hence the name. It is not just for the poor but all citizens to ensure that they take part in the economy. The economy right now needs more and more Zambians to take part in its development,” the minister said.
Mrs Mwanakatwe said the money was borrowed five years ago and with it the company employs more than 40 locals.
“My submission is that I do not understand why all of sudden this is an issue and I am very surprised that the banker-borrower relationship is in the open because that is a very cardinal relationship. It is like you and your doctor; your doctor cannot share your information about you with the public,” she said.
She expressed concern on how her company’s borrowing money from CEEC is in the public
“It is obvious there is a challenge within me and CEEC and I have to deal with that,” she said.
Meanwhile the Zambian Voice has demanded that Commerce Minister Margaret Mwanakatwe pays back the money she owes or give a reliable commitment plan on how she will liquidate the loan sir gar other people can access the money.
[pullquote]I am very surprised that the banker-borrower relationship is in the open because that is a very cardinal relationship. It is like you and your doctor; your doctor cannot share your information about you with the public,” she said.[/pullquote]
Executive Director Chilufya Tayali says failure to do will prompt his organisation to report the case to the Anti Corruption Commission so that an investigation can be launched on how she and her husband acquired the loan and where the money went.
He says they are highly doubtful as an organisation that the money was borrowed with good intentions.
Mr Tayali adds that his organization is disappointed with the response of Mrs Mwanakatwe over the loan they got from CEEC, by refusing to take responsibility of the debt in the guise of corporate veil that it is the company that borrowed and the company will pay.
He states that companies do not exist in a vacuum,but are rather created by individuals who bear responsibility of liability depending n the circumstances.
Mr Tayali further argues that contrary to Mrs Mwanakatwe’s suggestion that she was not aware of the loan because she was out of the country,she acted together with her husband to obtain the loan from CEEC using the company in which she has shareholding of 60% to her husband’s 40%.
Mr Tayali adds that Mrs Mwanakatwe took full responsibility of the loan in question when she took over the running of the said company as evidenced in a letter she wrote to CEEC on 23rd January 2015 to CEEC which she signed as Managing Director.
Please do us a favour tell the woman to pay back don’t give us any nonsense if it was in Europe she would have resigned by now.
The other problem with CEEC is that of Nepotism. There is a cartel that ensures that only people from certain tribes access these loans. Even if you have a great idea you will not be considered if you belong to certain tribes.
CEEC you are now confirming that body is not professional at all. You cannot justify that this lady minister is better qualified to access this public fund. She has blocked a lot of rural women who only need as little as K30, 000 to K50, 0000. Shame on your system for it is bias towards empowering the empowered.
“A book is the most effective weapon against intolerance and ignorance.” Lyndon Baines Johnson
No one gives advice with more enthusiasm and less knowledge than an ignorant person and, too often, an educated person is someone who knows how to be ignorant “intelligently”. It’s all right to be ignorant about some things, but it’s ridiculous to make a career of it. John Rayoa
“Education is the ability to listen to almost anything without losing your temper.” Robert Frost
“Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.” Thomas Jefferson
It was bankable project but why has it failed to pay a ngwee?
Pay back the money public funds are not a ‘private’ affair, CEEC is not a bank to ‘banker/client’ relation privilege does not arise. Infact I challenge my area MP Gary Nkombo to move a motion in parliament for CEEC through the Minister to ‘table’ a list of all outstanding loans and who was ’empowered’ under RB and his cronies……who doesn’t know about RB/Dudu…also if she continues to rant we shall lay bare her actions in Ghana…..am sure she will say that her social life is also privileged…
Zambians are a funny lot. The whole country losing elastic in their kn!ckers all because The Mwanakatwe’s owe CEEC!
Olivia only theives like you who have benefited on our money all your lives because of your names and who you are related to and which party you brown nose, can not get the knickers in a twist. I say our money because I pay tax unlike you and can account for all I have unlike you gabenga’s masquerading as an elite and honorable human being. You wouldnt know morals if you drowned in them. God was hearing the prayers and fasting of the poor who were applying for K5,000, K10,000 and K50,000. You can laugh now the crying will come and just in case you dont believe in Gods justice there is a saying what goes around comes around.
The funniest part is that CEEC falls under her ministry so all staff at CEEC will not have the gal to say anything negative, I mean how do you blow the whistle on your boss. Not going to happen. There are people who cannot see any moral dilemma with this fact.
Obviously ZAMBIA is not Europe so she should not resign and the poverty hunger, underdevelopment and disease should continue. The corrupt leaders should continue to get richer and fatter. We know the right things but we should not do it. We are disgusting ain’t we?
Okay, so she borrowed in 2009 under Alaa Biii. the most corrupt president in the history of Zambia!!
So iyi case ni wash-out, she will not pay back. Alaa Bii will ask you ” nanga nindalama zanyoko?”…?
@Spellcheck; take a breath before you pop your corsets!
The matter here is not whether she qualified or not but whether she is servicing the loan or it is overdue. That is the update we want to hear.
At Olivia 1:10 did I hit a raw nerve, I apologise. I have taken a deep breath and I am now listening to Obama’s AU speech, he is talking about corruption and how it is restraining the development of Africa right now, you and others who are comfortable with shaky morals regarding taking advantage of the poor might learn something or read Proverbs 10:9 He that walketh uprightly walketh surely: but he that perverteth his ways shall be known. I forgive you because I am commanded to in Romans 12:19, God bless
My anger on thieving and corruption comes from working hard then paying tax so we can bank roll your aunty but as you have advised I have taken a breath and my corsets (boxers) are all nice and loose now
CEEC, you still have not explained the criteria that was used for Mwanakatwe to qualify for the loan.
Information on your website states that the rationale of the CEEC is to promote individuals that have been marginalized or disadvantaged from accessing funds.
So how does Mwanakatwe fit into any of these two categories?
Public money and no harm in publishing names of beneficiaries their “bankable” projects and amounts disbursed.
Its an institution full of corruption, This is meant for Young Zambians to help them have access to financing for their SMEs?? Not these politicians??
Have ethics and stop stealing? why dint they go to a commercial bank?? because they knew at CEEC they would default and will never be followed.
CEEC is a Weak organization which who ever runs it should be fired.
She recently said Zambians should not be afraid to borrow. Now if she has failed to pay back K945,000, which has swelled to K 1.5 Million after interest, how can we be happy with her govt’s K10Bn foreign borrowed funds, without any sustainable plan in place to repay that money? What an ldiot! What does she take Zambians for?
Is this the same mama Mwanakatwe who stole some money or failed to pay a nkongole or some such thing? She doesn’t sound like an honest gal, I have to admit. I bet ka Lungu had something to do with her current prominence. That boy is trying to resurrect his own imagined Kaunda-day glory. I think that is why we are seeing so many ancient names from the dark ages of Kaunda.
Margaret Mwanakatwe, be humble and admit that the loan you acquired in 2011 is still outstanding. You took public money, taxpayer’s money and you have not paid it back. 4 years later the money is still outstanding. You say it is a personal matter but really it is not anymore because you are in the public eye and you took public money. I for one am not convinced that you qualified for that loan in the first place. Apologies you arrogant person and pay back the money. In Europe you would be hanging your head in shame and would have resigned.
Namwe aProfessional ndimwe achikopo ai. Don’t you know how to read? Both CEEC and Mrs Mwanakatwe have confirmed the fact that the loan is still outstanding and she is going to pay.
Now I know that Zambia is poor because of people like you who can not comprehend simple explanations like these.
Mazabuka runs out of fuel….Is this global also?
Brace for a prolonged fuel shortage saga following the damaged Indeni refinery due to wrong feedstock by Yaluma or Yamfwa.
No it is not global as we are loading fuel at TAZAMA. Secondly, the refinery is running as there is a bellowing flame from the burning of excess gases.
Can we please stop being dramatic and state issues as they are.
Mr. & Mrs. Mwanakatwe should start servicing this loan with immediate effect. CEEC should not fool people, Margaret got this loan because of her connections to RB. Marble had no choice but to ask the loan committee to look at Dudu’s loan application favourably. That is Zamb ian corruption for you!
Its not for Chilufya Tayali to ask Mrs Mwanakatwe to repay the loan. He has no rights at all. It would appear that he has run out of things to talk about. He owes his lawyers money in legal fees. That is what he should be concentrating on. Let him go and borrow from CEEC also
Tayali cant borrow from them, he doesnt meet their credit criteria Under the CEO Economic Empowerment Commission (CEEC) act plus he is not related to or friends with the current leadership. There you have it.
Tayali is raising a none issue is it sour grapes, if Tayali you have a case why not go ahead and report to ACC. She has explained she got the money way back before she became Minister why are Zambian NGO’S so petty.
If she is entited to get a loan i have no issue. It is her entitlement as a citizen. However, i urge her not to take advantage of her position and let her pay back. Otherwise there is absolutely no need to victimise her nor to bring a personal private loan in the public domain. We all get loans and they are personal. But please pay back mama
Margaret is a double insider: she was the first CEO/DG of CEEC and now as Commerce Minister, CEEC, reports to her. Has she even serviced the loan in the 5 years her company has had the money? It appears not. If she had any integrity she would borrow from a commercial bank and repay CEEC to resolve this conflict of interest.
Are you Confuscious or Confusion? don’t smoke before blogging
Do blog with manyon’go in your eyes. Wash your face and try and make sense. The name is Confuscious.
How many of you critics have never borrowed money and delayed to pay? She is just as human as you and after all she borrowed that money long before she became minister. BY the way did you know that FTJ paid debts on behalf of Levy when he picked him for presidency?
We have and penalties for default are not as light as is the case here ..moreover the interest rates is almost zero here….one would be at least thankful and payback in pot for someone else to benefit as well.
CHILUFYA “SEX” TAYALI!!!!!!!!!!!!!! BE CAREFUL MARGARET, TAYALI TOMBAS EVEN WHEN HE IS DRIVING.
The issue is not about her right to get the loan. All we want is that she and the infamous cartel led by M’membe earn t pay back what they owe. Lead by example, you “rich” folks.
The issue is not about her right to get the loan. All we want is that she and the infamous cartel led by M’membe pay back what they owe. Lead by example, you “rich” folks.
..what do expect from CEEC..?…to say otherwise..??..not at all…ofcourse they have to save their bottoms…changing goal posts on the initial basic purpose of CEEC…I smell the rot here..
..da reaction from Margret is pathetic to say the least…how can she compare this saga of hers to that of Doctor/Patient relationship..??…CEEC is a public entity…..without this revelations did Aluworks intend to repay this loan anytime soon…??..this is six years since the loan was issued and not even a penny has been paid back since…she is a banker by profession….she understands better than all of us what loans agreement components are….that’s the principal amount…agreed interest and strict time frame to pay back…certainly not without any part payment in 5 yrs…
CEO at CEEC on his way out for leaking information to Tayali…
CEEC cant say jack, they report to her ministry only in Zambia.
Only Muliokela’s company in this case would have qualified for the loan.
Even the very definition of those eligible to apply for the loans disqualifies your company madam!!
If only you stepped down, you could become a hero of Zambia’s fledgling democracy as the first minister to do so on moral grounds!!
Minister resigning on moral grounds?
In Zambia?
Are you mad?
That is not mentioned in Ministerial code of conduct!!! As a mater of fact, morals are not mentioned even in MP code of conduct.
The only two requirement accepted by all ministers is to be greedy and not accountable and Mrs Mwanakatwe complies 100%.
Chagwa Lungu is an excellent example of lack of integrity, including his treasonous behaviour when he disclose Cabinet proceedings to Newton Ng’uni in an attempt to grab the Acting Presidency from Guy Scott. Lungu also stole from his client and only repaid the client under pressure from LAZ.
CEEC was well intented in being formed .but like everything in zambia , its abused and i must say by everyone . We lack integrity as zambians. We are desperate to success ed .we fail to work with our hands . we like shortcuts.Even with PHDs , our cultures dictates our actions .the term Margaret mwanakatwe should be considered to be used as a unit of measurement for cheating .for example ,if you steal 100000 kwacha ,we can say you took 1 margaret mwanakatwe .
The citizens economic act No. 9 of 2006…talks of targeting and helping citizens who have suffered marginalisation….especially women ,youth and the disabled……do Margret and the husband fall in this bracket of citizens…??
This company has a page on facebook, surely how can a company that manufacturers congregated cheap roofing sheets and thousand dollar machinery qualify for such loans and not pay back if they wanted to…they could obtain a loan anywhere.
I can guaranty you there are many minister’s proxy companies on that list whom have benefited from these loans.
It is like this…….Margaret Dudu Mhango is an in-law and relation of Bob Sichinga who are both Tumbuka. She is related to AB Chikwanda in marriage. And by the way, you now understand why she is in Cabinet.
The CEEC loan was given to her for less than honourable reasons. MDM was managing director of either Barclays Ghana or United Bank uganda. Does a managing director of a multinational bank need to borrow from CEEC instead of either accessing local banks or even off shore facilities given the profile? Didnt margaret get a payout when she left barclays not exceeding K1 million?? Why didnt she use this money to pay back CEEC. What would happen if the likes of Milupi, GBM and other rich tycoons also raided CEEC?
Margaret pay back!!
Here is a commerce minister’s proxy company that has defaulted on a loan facilitated with taxpayers funds and we are still having this debate…if her company is in a niche market of roofing and defaulted what does that say about management of this co. in a profitable sector especially with the housing boom, this lady could have gone to any bank in Zambia and asked for a loan but they didn’t why?
This is disgraceful and all that needs to be done is for her to hand in her resignation…this is another appointment of Lungu he can appoint another professional from the streets.
This is why the president & ministers need to declare their assets and interests publicly…all these ministers now own proxy construction firms what chance does an average Joes have in competing for a GRZ…
If that organisation is open, show us the list of recipient companies.
..leave the rich ‘a-loan’…
She is fake. 4 years and no dime paid back! Shame.
Ati Minister of Finance. No integrity at all.
Please Tayali keep the ball rolling.
Everything about her is fake…fake accent, fake marriage, fake company…fake integrity, fake repayment plan…..
@slyvia
kkkkkkk……fake everything….a fake accountant…..a fake wine guzzler….a fake cradle snatcher whilst rubbing RB belly!!!
@Sylvia: well put! Of all Zambians one has come across, Dudu is one fake biatch.
The fund should be allowed to be diversified and grow with a long-term view like the NAPSA and the alike we have You therefore will need a diversified business support in CEEC others the fund will under perform and most of the time could be reporting more defaulting citizens than the Value of those succeeding
Those business plans according to business cycles in old and new credit applications must be seasonally reviewed and a credit report in quality is given on performance of the fund and the value of those firms empowered for those citizens That report should report accounts placed for collections and those in default, reporting on the “‘index tracking of the fund as it were”‘…
on returns and risks as a composite of the total sectors empowered in the CEEC and according to the credit scores and review
The thinking should be to empower as opposed to stifling but with minimal guarantees of performance to perpetuate the fund
Why do want to confuse yourself with jargon?
Only a foo.l would write such a sentence.
Bloggers save yourselves from stress by accepting that the world we lives subscribes to the animal farm ideology, whether you like it or not.
@kitonzhi…
..once upon a time….slaves thought working for a white man with such horrendous conditions was a normal way of life….until some one stood up and said NO…this is not the way live….had some one or a group of people not stood up..i’m sure as huge as you are…you should have been in an American plantation as we speak….
..we cannot afford to fold our arms and say it is written in animal farm….that the reality of the world we live in…all people are equal but there shall always be others who shall be more equal than others…
….if a stain action is instituted on the Mwanakatwez and others now….we shall be assured that the REAL intended targets shall surely benefit in numbers…..
“The first man to have uttered insults was the first revolutionist” Sigmund Freud
Nobody in politics should be allowed to have his own business as there will be always own interests,especially in Zambia.They make already lots of money by taking from the government.What a nation!!!!
That is why KK introduced the leadership code, price controls, SITET because he saw the evil animal in all of us.
I am told ba Edith Nawakwi also borrowed money for some Breweries Project. Mr Tayali who has become a Debt Tracker should follow up on whether the madame has paid back. But more interestingly is Mr Tayali’s silence on Mmembe’s Debts. Is it a case of Mmembe saying that because Mrs Mwanakatwe owes, then i cant pay back using the Tayali Megaphone ? I remember when ZRA was pursuing Mmembe last year , instead of paying back he pointed at the monies Zambeef was owing! Same old Tactics.
Borrowing to make citizens drank and then shout on the roof tops that Zambians are lazy?
Zambians like hating. Go in the bank borrow some money. Default if you want and get a life. Rupiah Banda lost a house to Finance bank when he failed to pay back the loan. No one died.
Please dont bring in her boyfriend into this topic
Banks and credit companies such as CEEC earn profits through interests which they charge on borrowed money.
The bigger the amount and the longer the period, the bigger is the interest.
Margret’s company employs Zambians most of whom cannot borrow money from anywhere because they cannot afford bank accounts, they barely survive, thanks to Margret.
Can pu mbafu Tayali and Moshota tell the nation why Margret’s company cannot be illegible to such help to poor Zambians through Margret?
They should not charge interest on borrowed money but should also match the portfolio of loans given with back to back investments in funds with some correlation to the loans list and maturity of those loans so that they do not suffer liquidity risk
They will also not be operating like a slash fund with inflows injections from Government, they should turnaround the fund to push it longer even after the political parties
The fund performance should extend even after allocation and credit risk management into the review and tracking of those empowered firms handing them over to ministry of commerce as seen supported to stand to leave them realise value and potential
Corporates and Body entities are normally allowed to borrow from normal financial markets and capital and individual citizens can be empowered through CEEC with individual capacities assessed objectively
Tayali…waitaya!
Don’t try to mmembly compare this to DBZ loan, iyayi. In the meantime grow up!
It’s not an issue of qualifying to get the loan,why is she not paying back the money?Moreover,what is the target group for CEEC?let us be serious with whatever we do,Glenda,as a professional of which I think you are,don’t be intimidated just because Mrs mwanakatwe is a minister.
Madam , just pay the loan so that others may access it . Pay back madam.
The ignorance exhibited on this website by many is unprecedented. Anyone who knows a bit about business knows a limited company and the owners of the company are two different entities. She doesn’t owe CEEC but the company which is a limited company with limited liability owes and the debt is still active as clarified by CEEC meaning it is still being serviced. We are a country that majors in minors. The company she co-owns with her husband is not a sole trading business neither is it a partnership because these two do not have limited liability meaning when they default owners then can be held responsible. Lets be a society that follows and upholds the laws we create because if we do not abide by our own laws we will self destruct. Can we now have news on development and good ideas?
@Sensibility
You do not make sense. A corporate veil is simply a fiction of imagination. Do yourself a favour and study legal personality in jurisprudence and deontology in ethics at Ziale and you will understand why what Margaret did stinks like a pit latrine.
@Sensibility – try taking an Ethics 101 course to understand what is wrong here. Abuse of authority and insider lending come to mind as principles Dudu has peed on.
Excitement for nothing ba Zambian!
The lady and her company will pay back the loan.
Non of you has asked about the terms of repayment and whether those terms are being adhered to. Let us not be quick to discourage each other. Instead support each other so that we can lift ourselves out of poverty using our own innovations….!
Aluworks is doing well bane!
Its doing so well it has not met its obligations obligations to CEO Economic Empowerment Commission, very impressive
Margarita is okay and has every right to borrow while most of you are preoccupied with blogging and negatively so. Muzafa na njala ni zanu izo, Ka Tayali kali busy politicking
I feel the cardinal issue to address here is whether the company has defaulted on loan repayments. If the company has defaulted, then the directors have to take full responsibility. As Tayali has rightly said, companies do not exist in a vacuum and people should not use companies to run away from responsibility. And Mrs. Mwanakatwe should set good example in lieu of her past – she was MD for Barclays and not only in Zambia.
The biggest issue here is lack of objectivity.This is personal.Ba Tayali babeko objective.leave her alone.she is investing in her company, then you will understand that 5 years is a very short time. Tayali is a failure.he has been failing from the time he was in the seminary.
In any case she has employed other people – hope not relatives. Any one who leaves the seminary becomes confused, so I am told
She may have qualified but that does not mean she should default. She has defaulted on the loan. Those loans have a tenure, 5 years maximum. This is six years nothing paid. She is now Minister of Commerce who is in charge of CEEC. How will she compel individuals and companies to redeem their loans?
You Margret and mpanga,you can’t feel ashamed of yourselves sure?How do you borrow money for the poor?you thieves!you are cursed.Even CEEC officers you are also cursed and corrupt by justifying that Margret and her husband are entitled to this money that belong to the poor.Me I was admiring this lady but she is a fool
Why are you cordoning corruptions, you so called Glenda Masebe? CEEC is a social benefit fund and it is not meant for rich fools. These fools can afford to borrow from commercial banks. Because these fools are greedy, they would rather crowed out the common man even from the little funds that are available. Your company should have borrowed from a commercial and no amount of explaining, you fool, would justify your action.
CEEC is suppose to help the disadvantages meaning the disabled, youth, women in starting their own projects in order to help alleviate poverty. I don’t see how Mwanakatwe qualified for a loan. Did she help members in this class such as the disabled with a job? This is the problem in Zambia when people start twisting stories to benefit themselves. She and her husband both work, have disposable income while those needing loans and are living in poverty are disqualified because of greedy. CEEC shot themselves in the foot by saying they have been giving loans to senior government officials which is wrong if they claim to help the disadvantaged. She’s defaulted and should pay interest. If she can’t pay take Aluworks as collateral. These people need to be held accountable and not walk free.
This is to show people who are envious of peoples titles. Mwanakatwe has an impressive background: business woman, accountant, bank executive, director of business development etc. But that’s all it is on the outside. This is the problem of hiring people because of their name or association and what is destroying Zambia. A person with such a professional career behaving and acting this way is inexcusable. CEEC backing her and senior government officials in this loan scam should be looked into by ACC (if they have the guts). We should not let this one get swept under the rug like most things do in Zambia. I urge the president to do a background check on all people in public office to eliminate such costly errors to a nation. It is not titles that honour men, but men that honour titles.
Tayali, Tayali, Tayali, I have called your name three times.
1. What are you going to report to ACC?
2. Mrs Mwanakatwe has not denied that they borrowed the money and that they will back in full.
3. Where has she stated that because she was out out the country at the time, therefore she did not borrow the money?
If you really want care for the poor Zambian citizen, why don’t you ask about those who borrowed money from DBZ, and owe ZRA and National Airports – K14bn + and yet deny it?
Compared to the attitude of these characters from the cartel over their borrowings of money from poor Zambians, Mrs Mwanakatwe is a million times an angel. It is clear beyond any reasonable shade of doubt that poor Tayali is a puppet for Mmembe and his cartel. And how that feel, eh Chilufya?…
The PhD syndrome. Success is an enemy of some Zambians. That explains why we remain poor, backward and primitive as a country. And some cadres are on the top of the hill yelling at the top of their voices? Really? Isn’t it the same cadres who were defending HH from similar accusations not too long ago for a developed brain to forget? What is different now, especially that the Mwanakatwes have not denied liability for their loans from CEEC?
An uncle in Kitwe borrowed K100,000 from CEEC and he was monitored very closely and at falling 3 months behind in servicing the loan CEEC instituted recovery measures through their lawyers. Matter ended up in court and expectedly Court ruled in CEEC’s favour and Uncle was was given a period of time to settle the amount and which he did last year. Despite settling the amount in full CEEC is still holding on the title deeds and follow up letters and phone calls requesting for surrender of title deeds go unanswered. Contrast this with the Minister (albeit hiding behind the company’s veil) owing 10x the amount borrowed by my Uncle and who by all accounts has not been servicing her loan?
Because CEEC refuses to hand back the title deeds, my Uncle’s farm ops aer being greatly hindered