ZAMBIA AWASH WITH LOAN OFFERS
Written by Millennium on March 3, 2019
Suddenly Zambia is awash with people and organisations offering both soft and ‘hard loans to individuals.
Some lenders don’t even ask for collateral while others still demand collateral which is normal.
But my question is why this sudden gush of loan offers? Where has this money suddenly come from, and is government aware of this business?
If it is aware, what is it getting in form of taxes, assuming that these people have certificates as money lenders as required by law.
But that aside I was shocked and appalled to see people applying for as little as K100 as a loan but ready to part with more than K1, 000 when full repayment is done.
Are these Zambians aware of what they are doing? I do not want to sound pessimistic but I feel that there must be a big catch in these loan offers.
Just my thought
PAUL SAILOTA, LUSAKA