Breeze FM owner, Mike Daka says loans have worsened financial problems for civil servants.

Easy access to a variety of loans has not solved but worsened the financial problems of civil servants, especially teachers.
This was said by Breeze FM owner and director, Michael Daka during a financial management for personal development workshop for teachers at Saint Margaret’s Girls Secondary School in Chipata.
The Breeze FM director pointed out that today civil servants are bombarded with all sorts of loans when in the past it was very difficult to get a loan as a civil servant.
Mr. Daka said the government gives out loans generously while micro finance companies are competing to give civil servants loans.
He explained that the only loan worth getting is that which is invested into productive areas to earn interest and value.
The Breeze FM director explained that loans for consumer items such as cars, television sets, music and home video systems are not necessary and only go to creating more financial problems for the borrower.
He said that financial problems affect the performance of officers who are struggling to pay off their loans while failing to make ends meet.
Mr. Daka encouraged the teachers to adopt the success habit of saving money adding that Zambia now had various money saving and investment facilities including saving accounts, Fixed Deposits, Treasury Bills as well as company stock and shares.
He said saving money would help teachers to have a good standard of living and to prepare well for retirement.