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Alba Iulia
Thursday, February 27, 2020

Loan defaulters on the village banking soft loan program rise

Rural News Loan defaulters on the village banking soft loan program rise

Government is concerned with the increased rates of defaulters among the beneficiaries of the village banking soft loan program in Kapiri Mposhi District.

The village banking program which is aimed at empowering women economically through soft loans is being implemented by the Department of Community Development in the district with about 200 beneficiaries since it was launched in 2014.

The soft loans are aimed at boosting business activities and empowering the vulnerable women engaged in Small Medium Enterprises -SME- in the area.

District Community Development Officer, Priscilla Mangowanyi, is disappointed that some beneficiary women are not paying back the money.

Ms. Mangowanyi said the trend has negatively impacted the program as other women were denied accessing the money to engage in entrepreneurial activities to improve their living standards.

She said this during the 2016 fourth Quarterly District Development Coordinating Committee Meeting.

Ms. Mangowanyi urged the beneficiary women to pay back the money to enable others access the facility.

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  1. Chipanga family party claiming back the money they used during political compain so that women can vote for them…

  2. The money was obviously abused during campaigns. Given to carders for political expediency. I don’t blame them for not paying back.

  3. We have a Cabinet Minister in charge of “Commerce Trade and Industry” kkkkk who cohabits with a CEO who borrowed from CEEC and have never paid back so why should the rural women who are not Minister neither are they Co or married to one pay back?

  4. It is not easy to do business and pay back looking at the kind of businesses that were funded. Surely lending to a mother with a family of nine to increase her cretes of tomatoes from one to five is not just viable. Believe me she won’t manage to pay when the loan is due.

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