Presidential loan defaulters in trouble

About 100 people who got bicycles under Presidential loans in Chipata have been given ten days in which to pay back the loans.

Provincial Chairperson and Field marketing Officer for Amaka Multipurpose Group, Philimon Mwale confirmed this to Breeze News.

Mr. Mwale says this follows failure by some people who got the bicycles to pay the 500 Kwacha to Amaka Multipurpose which prompted them to engage court bailiffs in the matter.

Mr. Mwale says only few people have managed to pay at least 50 and 100 kwacha from the 500 kwacha but no one has paid back the loan in full.

But some beneficiaries from M’sanga ward have asked for more time in which to find money to pay back the loan.

Simon Nyirenda, who is Msanga ward Chairman, told Breeze News that most people in the area have not paid back the loans because they were not sure who to give the money to.

Mr. Nyirenda added that other people thought it was a campaign strategy for President Lungu to give them bicycles and never thought of paying back, adding that they will be grateful if they are told not to pay back.

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