Over forty beneficiaries of presidential initiative stuck with how to pay back loans

Over forty marketeers and vendors in Chipata who received money under Presidential Initiative Empowerment Scheme do not know where to pay back the loan from.

Kapata market Chairperson, who is also the coordinator for the Presidential Initiative Scheme, Richard Lunda told Breeze News that chances are high that the beneficiaries will default payments for the loans.

Mr. Lunda says this is because organisations spearheading the Presidential loans did not tell the beneficiaries and their market Chairpersons where to take the money when paying back.

He says the beneficiaries did not open any account with the Bank when getting the money as communication was made through phone messages.

And Mr. Lunda added that over 5,000 marketeers and traders who registered for the Presidential loans in Chipata have not yet gotten the money.

He says his request to have a direct contact to State House was put on hold as authorities at the Provincial administration told him to speak to the Head of State when he visits the Province.

Mr. Lunda says some traders in other districts have received the loans with assistance from their former Members of Parliament, which is not the case in Chipata because most MP’s have not shown interest in assisting the traders get the monies.

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