THIRTY-FIVE NAKONDE LOAN BENEFICIARIES FAIL TO REPAY LOANS
A total of 35 out of 69 beneficiaries of the Constituency Development Fund (CDF) loans in Nakonde district have not paid back any part of their loans since receiving them.
The 35 non-paying beneficiaries include 4 from 2022, 7 from 2023, and 24 from 2024.
The remaining 34 beneficiaries have made some payments, but none are up to date.
In 2022, 19 beneficiaries received K2,736,000. By January 2025, K1,497,985 was expected to be recovered, butbonlybK392, 985 been repaid, leaving K1,204 unpaid.
In 2023, 18 beneficiaries received K3,181,800, from this government hopes to recovered K3, 803,160 by the end of the entire loan period.
By January 2025, only K343, 462 against K1, 224, 403, leaving K880,943 unpaid.
In 2024, 32 beneficiaries received K3,873,500.
From the 2024 loans government anticipates to recover K4, 561,200.
By January 2025, only K53,488 has been repaid against K655, 594 leaving K602,136 unpaid.
Council Secretary Mutakela Kayonde encouraged beneficiaries to honor their payment commitments so more people can benefit from the program.
He says failure to repay loans may impact future funding and the CDF program’s effectiveness.
Let the law be followed and stop people acting like state money is personal chattel.
Follow the law in recovering the money and let also be blacklisted on the credit rating, that way their antiques they played in previous regimes will not be perpetuated.
Efforts to do good are often abused. So let the consequences follow.