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Alba Iulia
Monday, August 10, 2020

The COVID-19 Economic Stimulus Development Grant is Fraudulent-Ministry of Finance

Headlines The COVID-19 Economic Stimulus Development Grant is Fraudulent-Ministry of...

The Ministry of Finance has cautioned the public to be wary of unscrupulous individuals that have embarked on a scheme to defraud unsuspecting members of the public by purporting to be managing Covid-19 stimulus grants.

Secretary to the Treasury Fredson Yamba says the Ministry is aware of the Fake email addresses and illegal internet platforms being used in the scheme.

Mr. Yamba said that the government has not set up an Economic Stimulus Development Grant resulting from an agreement between the International Monetary Fund (IMF), World Bank, Global Entrepreneurship Facility and Zambia.

He says the so-called Winnie Chilanga whose name appears on the fake application form does not represent the Ministry of Finance in any capacity.

The secretary to the treasury says the pubic should be aware that there is NO part of the Ministry which is referred to as the Secretariat Grants Department as she or he wants people to believe.

Mr. Yamba says the procedure for accessing funds from public institutions is clear and can be found on official Government platforms.

He says Government maintains an open-door policy for its citizens and partners but does not in any way offer unsolicited grants as portrayed by the scammers.

Mr. Yamba said that the only Covid-19 related official facilities for access by the business community and citizens is the 10 billion kwacha Medium-Term Financing Facility from the Bank of Zambia and accessible through Commercial Banks.

The other facility is the 8-billion kwacha Covid-19 bond of which 4-hundred and 70 million kwacha is for the youth empowerment scheme and 30 million for artists.

The Ministry of Finance has written to the Cybercrime Units of the Zambia Police Service, Drug Enforcement Commission, and ZICTA, to help trace the criminals that are circulating the fraudulent grant offers and to identify the source of the emails.

6 COMMENTS

  1. Please stay vigilant and report such people to authorities. I am told we are close to catching these criminals. This is behaviour strongly associated with upnd to dent pf reputation. Kz

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  2. Please stay vigilant and report such people to authorities. I am told we are close to catching these criminals. This is behaviour strongly associated with upnd to dent pf reputation. Wouldn’t be surprised if diasporans are involved because we hear the economy abroad are shattered with many losing their cleaning jobs there

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  3. Its thieves in PF who have a record of financial fraudulent activities; 49 houses mushroomed without the owner lead to PF frauds, Mukula tree trading is PF corruption, break fast – frauds, lunch -frauds. supper- frauds. Today PF has extended its frauds to ponographic activities.

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  4. I hope the Ministry of Finance had alerted the police before issuing this warning to the public. It would be easy to arrest them before issuing the alert.

  5. A GOVT OF THIEVES.SHE MUST BE A PF CADRE.WHO CAN DO IT WITHOUT THE FEAR OF THE LAW.EVEN,CHILUFYA IS RUNNING ONE AT HOME WITH THE DONATED FUNDS.

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