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Saturday, October 24, 2020

Presidential Empowerment Fund Beneficiaries Refusing to Pay Back Loans

General News Presidential Empowerment Fund Beneficiaries Refusing to Pay Back Loans

National Association of Traders and Marketeers of Zambia (NATMAZ) president Goodson Mofya has said the re-payment of loans obtained by marketeers under the Presidential Empowerment Fund has remained a challenge as traders are still defiant.

Speaking in an interview with ZANIS in Kitwe today, Mr. Mofya appealed on the marketeers to begin paying back the loans to allow others benefit from the funding facility.

He urged the beneficiaries to change their mind set and begin to use the money prudently and grow their businesses so that they can pay back to make the programme sustainable.

He noted that some members of NATMAZ thought the money was a donation to them and did not use it to grow their businesses.

Mr. Mofya said the beneficiaries are not paying back the loans despite President Edgar Lungu making it clear that the facility was a revolving fund which needed to be paid back.

He further bemoaned the lack of communication between the market associations leaders and the programme funders on the disbursement of the funds.

He however stated that the programme has helped to lift the business activities of most marketeers that have benefited from the programme.

Over 10,000 marketeers countrywide have benefited from the Presidential Empowerment fund programme which is an initiative of President Edgar Lungu.

The programme is aimed at growing the capital base of marketeers who have no capacity to borrow funds from commercial banks.


    • You can F.OOL people sometime but you can’t F.OOL them all the time….

      Besides has Lungu got a financial services licence which allowances him to operate a money lending scheme? Its so said to see how a guy who claims to be a lawyer does not even understand basic law… they will be so much trouble with this guy when he leaves am now even feeling sorry for him

    • Enjoy the illegal money from Mukulu trees…. He has failed to explain how he created 20m from 1m from his declarations. he has also failed to explain where he gets this money from…. they can’t take you to court as they can not explain the money source.

    • The Presidential empowerment fund is not registered to provide financial services… thats a gift. If it was registered it could be audited…. that illegal money which is being given to you as a gift.

    • Kekekeke, the way PF think wonders us. Abena Lungu goes out get loans on behalf of Zambia, do they ever pay back?
      Marketeers should give excuses of fires and cholera.

    • “He noted that some members of NATMAZ thought the money was a donation to them and did not use it to grow their businesses……”

      It WAS a donation! Which can more accurately described as a BRIBE to get Lungu elected. Now the CORRUPT Lungu must tell the Nation how we are going to pay back the 17 BILLION DOLLARS kaloba that HE has borrowed on our behalf !!!!

    • The money was distributed favoring ruling party cadres leaving out others so is it a wonder that they are now refusing to pay wouldn’t they too want to join enjoying the money as the chwichwichwi mumpoto?

  1. The supreme leader HH of the UPND is on record saying that the marketeers should not pay back because according to his warped mind that money belonged to them…This is the kind of thinking and brainwashed UPND sycophants…

  2. Arrest them. They should learn how to do business and should not expect free things. Sue them and have them arrested so that next time those that get it will know the risks. No more donations. Work for your money!!

  3. Instead of bribing people with free money provide vocational skill to our youth…..

    PF and lungu are corruptly supplying all army, ZAF, ZP, work cloths and School uniforms from abroad while we grow cotton and have hundreds of thousands of unemployed School leavers who can be making all those uniforms in Zambia….

  4. Whenever you give out a loan there must always be a way of recovering that loan in the event that the borrower defaults.Where they just giving out loans blindly?

  5. We all Zambians and entitled to copper. Why should our leaders be the only ones that benefit from our natural resources? Well played ba namayo. “Whoever is not guilty let him cast the first stone.” That is our entitlement, do not pay back.

  6. Zambians are tired of pf. I was in lsk, you can’t like it. And they have reasons to. The way things are going, it’s embarrassing to say the least.

    • Which Zambians are tired of PF?? The last local by-elections were scooped by PF, who told you Zambians are tired?? Your tonga or upnd friends??? Ofcourse they will even tell you the economy has collapsed!!!

  7. Bashinon the copper is ours, no no no. You give lease a mining licence and all that is on and under the area of the lease belongs to tbe holder of the lease in return for royalties.
    Another forum the new copperbelt ps said i am not educated just know politics and if you disagree we will pounce.
    Welll politics is a science, it would appear that the pf uneducated confuse politics with cadrism THe pf hierarchy let a self professed uneducated man speak on their behalf
    When we look at decision making within pf it would appear that confusion surrounds what is politic and what is cadrism. Just a thought

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