Maravi

Accessing of loans at Pride Zambia

Accessing of loans at Pride Zambia
By Namakau Kaingu
Sunday April 15, 2007 [04:00]

I write to refer to an article which appeared in your newspaper dated 13th March, 2007 in which Pride Zambia workers in their letter dated March 2nd 2007 alleged that I, Namakau Kaingu is a relation of Lutombi Kawana, the chief executive officer of Pride Zambia, and that he has been using his position and the alleged family relationship to give me small loans against company procedure.

I am dismayed by the management and board of Pride Zambia in the manner they treat their clients. One would believe that an institution which boasts of a board consisting of leading financial personalities would promote confidentiality cover on the information relating to its clients/borrowers.

I would like to state that I am not a relative of Lutombi Kawana, I do not even know which part of Western Province he comes from. The only factor is that he is a Lozi and I am among the other Lozi mentioned in your article.

I started getting money from Pride Zambia in November, 2004, close to two years before Pride Zambia received the Euro:l,000,000.00 (Euro: One Million) from the European Investment Bank for the Small Scale Mining Revolving Loan Facility. As a chairperson of the Zambian Women in Mining, I was instrumental in creating this loan facility together with my other colleagues in the Small Scale Mining Sector, hence I am very conversant with how the fund operates.

I have always followed the right procedure and this can be checked at Pride Zambia.

I have been paying back and have been a very good client of Pride Zambia and only slowed down between September 2005 and June 2006 when I fell sick and was bed ridden. As soon as I felt better, I started paying back and with the Lord’s protection and guidance, l am confident that I will clear the outstanding amount in two or three instalments.

Through the EU Small Scale Mining Loan facility, I am entitled to borrow up to K250,000.000.00 (Two hundred and fifity million kwacha only) but due to lack of collateral and being a woman, we are only given or authorised small amounts of between K20,000.000.00 and K10,000.000.00 which is too small and not enough for mining activities. Kindly let the board of Pride Zambia, know that although we are poor, we are entitled to confidentaility.

I believe the conditions to borrow from Pride Zambia do not neither discriminate against the Lozi nor make it criminal for Lozis to be assisted with a loan. In this case, we only wish Kawana was not a Lozi - things could have been different.

Therefore, if there is a problem at Pride Zambia it should be solved in the right way and not occurring on the Lozis who have borrowed from Pride Zambia. Can somebody avail the whole list of borrowers to the investigation institutions for the proper comparison of statistics.






http://www.postzambia.com/post-read_article.php?articleId=25242

Leaders' conduct
By Gady Museka,Mazabuka
Sunday April 15, 2007 [04:00]

The front page picture on the Thursday issue of The Post was really sad to see and I wonder how a husband can beat his beloved wife like that. The man must be caged.
This issue of men battering women has become common. Am worried of what type of leaders we have? Going by their behaviour one wonders were we are heading to as a country?

A few days ago it was reported that one of the former minister's failed to pay his fuel bill and was arrested. And most recently it was the former minister of information who insulted us by saying that The Post exaggerates issues. I have been one of the postbag columnist and I felt insulted and thank God justice has been done on Mwaanga! The Post, continue helping us to know current issues!

Am sure if The Post did not take keen interest to investigate Mwaanga's issue, we would not have known the truth! Long live The Post and its staff!

Labels: MINING, PRIDE ZAMBIA, SMEs, VERNON MWAANGA

posted by MrK @ 5:37 AM