Real scandal in closure of Mazabuka village banking groups

Real scandal in closure of Mazabuka village banking groups

The real Scam behind closing ONO and COMSAVE
Lately, the vice president of Zambia has been going round encouraging the people to join and form cooperatives in the name of village banking. Village Banking groups operate under the principle of saving money through lending it out, either to the members or to the public.
Ono and comsave were registered as such and had the licensing which was involved. Based on their licenses, a lot of people invested their money with these organizations. Organizations such as Ono were established in 2018. Which means they are almost two years. Two years is a lot of time to gain the confidence of people. They have featured on radio programs and Tv stations to advertise their products. They have on several occasions defended themselves against people accusing them of money circulation. So the question is.. Where was the listening government to have just woken up today to claim they are money laundering? Does it mean the government had been sleeping all this time while people were practicing illegal activities? Did it just dawn on them that these were a bunch of thieves. The same people highered state security to protect them against thieves. So how was Mr Banda a taxi driver going to know that these were practicing money circulation. Or worst case scenario laundering the money?
I can only conclude with two assumptions over the raid. The first assumption is that government security wings have for the past years known that what was happening under the standard of the law was wrong, but then, closing them down at an early stage would not be beneficial. Remember that the law clearly states that participating or investing in money circulation is a crime under the law of the land. So the best was to wait for the right time when the profits and collected monies are in huge figures. Then raid them and let everyone lose.
Clearly, a government such as hours is cunning enough to do that. To them, it is just another business day. The reporter from daily nation who first exposed this was asked to keep quiet and not talk much about it when the public tried to enquire what was happening, because the beneficiaries knew exactly what they were plotting. To those who saved, you have a reason to worry, your monies under the PF in my opinion are not safe. They are yet to quote laws that will make you unable to chase after your money, because right from the start, this was never about Ono nor Comsave, this is about the money they have. The money is their interest. If Ono was practicing fraud, then the 10,000 Zambians all need to arrested. But they won’t, they will just issue a statement to scare the public from an uproar. The money is the target. And I am pretty sure they are focused on the prize.
My second assumption is that this is a way to get back at the people of southern province for consistently rejecting the PF. Just recently, the President was booed in the said province, I don’t think it should surprise any of us that their money is being scrutinized. This is some sort of punishment to show all those people who is truly in charge.
Unless I am wrong, the PF government has no intentions of refunding any member of their money from what was thought to be a village banking group. This is a win for them. I also encourage all those small lending institutions such as SACCO save, Mukuni SACCO in Kabwe to be on the look out. They practice the same kind of business and yet they are still operational, this should speak volumes to you too that this has got nothing to do with the dealings, but is smeared in politics.
If the government was interested in helping the people, they would have guided these savings groups on how to go about their business, and to stick to the legal frame work, or better still, they could try to form an interim group to oversee these savings and to pay people off, but this will not happen, and can never happen. The post newspaper is a living testimony. If this is to go to court, it will simply be a kangaroo court, for formality. Ono savings and Comsave will be found guilty even before they step foot in that court room. The money is gone . The state has robbed the people in this case. The true thieves will party after this victory.
It is unfortunate that the people we elect as our custodians of hope are the ones who bring misery to our faces. You cannot put Hyenas to watch over sheep and always wonder why the sheep keep missing. These people should be seen for who they are.
I implore everyone to watch the space in the next few days or months and prove me wrong if anyone will get anything from this. I will wait.. Read the laughable statement they will release to the public. You will know the kind of people you are dealing with.
In conclusion, there is nothing you can do to stop the PF from getting your money once they have locked their eyes on it. The president cannot even give a solution here as he will claim these institutions are independent, but if it were his people they would have been declared innocent until proven guilty. In this case, these groups will be closed, proven guilty before they even step in a court room. If you cannot see selective justice in Zambia, then consider yourself blind. Please, I insist that you watch how the monies will be handled. Then you will know the kind of theft I am talking about. Day light robbery.
Written by Peter

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  • comment-avatar
    Peter HK. 2 weeks ago

    Without even watching out your space in the near days to come I already support and backup your points.
    How then will we forget easily we Zambians yet thousands and thousands of us lost millions of kwachas last year 2019 to the very gorverment in the same manner under Heritage coin.
    A company that was well up registered with state securities 24/7 just one the gorverment woke up in their slumber and probed Heritage coin that they were working illegally, scummers and with no license, so now what happened next?
    The bank of Zambia came in grabbed the whole monies in their accounts and decided to refund half of what each had invested the other half it’s their story to tell, I am a loser I can’t tell much 🙄🙄

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    Samuel Kalomba 2 weeks ago

    Dont compare Fred Mmembes case with this, if you do then it means you accept that these institutions were doing something seriously wrong. The Post was not paying its taxes for a very wrong period hence he was closed period.

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    Ben Carson once said we have been fooled that politicians are there to solve our problems which is very wrong perception.
    In actual sense there are one’s who have brought all the problems we are facing right now.
    For the southerners my brothers and sisters this it has something to do with politics.

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    Muky 124 2 weeks ago

    What the government is doing is bad. They are failing to come up with good business, but once an individual brings up something to help others ati aweeh its illegal. Let the government gives us what is not illegal then. Pf must go.

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    You are very right writer, a I have no account with Comsave or Sacco but the way these people are closing up businesses in the name of illegal dealings leaves everyone to wonder.why can’t they embedd, regulate or taught how to  do business as a corperative? Closing up businesses is injecting poverty in the lives on many. How could you be innovative in this country kanshi? Everything is illegal, can’t you correct people and increase your control? If Facebook was originated by a Zambian it would have been shut down a long time ago believe me citing it’s advantages more than its goodness. More to write

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    KISSO 2 weeks ago

    How much are we talking about here?

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    Bosco 2 weeks ago

    First time I agree with ZWD’s article. I have list 50000 kwacha with PF financier Lawrence Sijutwa’s Madison Assets Management. SEC, BOZ andcPIA are all quiet while the savers kise out to Shylocks.

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    James bond 007 2 weeks ago