LEGANA SAUSAGE BUSINESS COLLAPSES AS NAWAKWI DEFAULTS ON BANK LOAN
Edith Nawakwi’s Legana sausage business is barely surving as her creditors prepare to effect foreclosure processes, after repeatedly defaulting on a huge DBZ loan she obtained a few years ago.
Foreclosure is the legal process where lender recovers balance from defaulting borrower, typically by selling the collateral or forcing defaulting company into liquidation.
Both Bank and Legana sausages’ impeccable sources have confirmed to the Zambian Watchdog, that Nawakwi has been frantically trying to negotiate possible suspension of foreclosure, against certain properties she gave out as collateral to Development Bank of Zambia, but the Bank is adamant as interest continues accruing unabated.
A check at most Legana outlets in Lusaka including the factory in Garden House, along Mumbwa road, show a skeleton staff compliment that mostly loiter and playing nsolo. The absence of Legana pork products is evident in all outlets which have resorted to selling of beef sausages and chunks, which the workers confirmed are from the family farm in Chisamba.
Late last year, Legana was embroiled in a controversial legal battle when a customer accused the firm of selling pork products particularly sausages, she claimed were mixed with human flesh and cased in condoms. The workers confirm that the business subsequently nose dived as most customers took the allegations seriously and stopped buying the sausages.
Nawakwi who is also opposition FDD President, is currently nursing an ailing husband Geoffrey Hambulo. Hospital sources talk of staggering medical bills that Nawakwi has had to deal with. They say special drugs are flown in under special licence from abroad every month. Hambulo has reportedly been admitted in hospital 4 times in the past 3 months.
Local political commentators believe Nawakwi’s recent unsubstantiated and slanderous outbursts against UPND President Hakainde Hichilema, is a carefully worked out business rescue plan for Legana Business and her husband’s medical bills.
PF sources confirmed to the undercover Zambia Watchdog special reporter, that President Lungu has been privately courting Edith Nawakwi as a possible running mate for the 2021 elections, a situation which they believe would cause upheavals from a spectrum of PF interest groups, within the party, that are not only eyeing the Vice Presidency but the Presidency as well.
Other credible sources suggest Nawakwi would not make it in the labyrinth of PF complex tribal politics, but that Lungu was using her as an attack dog against his political archrival Hakainde Hichilema on the perennial privatisation smear campaign, owing to her former portfolio as Minister of Finance during the same process.
Sources talk of the intense dislike Nawakwi’s husband Geoffrey Hambulo, harbours for Hakainde Hichilema since the UPND founder, Andy Mazoka days. They believe Nawakwi is involved in a tangled triangle of hate and venom that is inspired and controlled by two men that intensely detest Hichilema; her husband Geoffrey Hambulo and President Edgar Lungu.
The sources say that after Nawakwi’s delivery of the poisonous payload to the PF against Hakainde Hichilema, Legana Sausage brand may resurrect and her DBZ balance sheet may turn from red to black once again.