A marketers’ credit association has decided to help uplift small scale traders’ living standards in Zambia by encouraging them to save their profits in banking institutions.
Zambia National Marketers Credit Association (ZANAMCA) says all marketeers in the country should have bank accounts for them to be able to access loans for expanding their businesses.
ZANAMCA President, Frank Kameya told ZANIS in Lusaka today that his association has introduced a facility that would require all marketeers in the country to open accounts and save money.
Mr. Kameya observed that marketeers have had a culture of keeping money in their pockets, thereby finding it difficult to reinvest it in their businesses.
“Marketeers should change their living by developing a culture of saving money in the banks and building relationships with these banks,” he said.
He further noted that empowering marketeers with banking services and expanding their businesses would help government ease the negative economic impact which the current global financial crisis might exert.
ZANAMACA, in conjunction with the Zambia National Commercial Bank and Zain-Zambia limited will therefore launch an instant banking service at Lusaka’s Mtendere market tomorrow.
Mr. Kameya said marketeers will be able to carry out transactions with the bank and business partners through using their mobile phones and visa cards both locally and abroad.
He explained that the facility would only be available to marketeers trading in designated places so as to discourage street vending.
In Zambia, marketeers comprise a larger portion of the informal sector, which is not taxed by government.
ZANIS/KSH/ENDS.
It is better than putting it in mattresses where there is no interest
Money in the pocket is money already spent. Maybe this will help instill a culture of saving instead of ‘nabeula firsti nizimwela’ which seems to be prevalent amongst zambians.
So is this news ba LT?
thanx again
SOUNDS GOOD
WHAT IS THE STARTING CAPITAL? 1 MILLION KWATCHA?
with the lousy interest rates and bank charges the marketeers are better of keeping their money under the mattress.LT its been a nice break from the usual politics.Thanks for the plain Zambian stories.
Ok, i used to think that some of them have.
Did I understand the story to mean that the marketeers themselves will run this credit association? And that they will even have ATM cards? Someone make me understand properly
Will they listen?
Yaba Nachalwe.!
Nothing beats my way of saving though.
Mwisaka kuli pillow :d
Nachelwa in #11!
ya this is good to learn
Shalapungu Banton l-)
Congrats.
Maa! Good idea but i don’t trust some new banks in zed they are from oga land! they go use you moni now! [-(
AGAIN!!!!
THE MATTRESS IS THE BEST BANK, IT CAN ONLY BE LIGUIDISED NGA BAMBI BASUNDA!!!
Abena Jamaco, you are funny! =))=))=))
THE BANKS ARE NOT SAFE, JUST GIVE ME THE MONEY TO INVEST FOR THESE PIPO
number 19. At least there is a 1 in the number.
am back to the porn story.
The matress isn’t the best bank, it is subject to kawalalaz, house fires, sticky fingered relatives and is worst of all is in arms reach. It’s best to save in a bank account that way you won’t be able to take little bits of money until it all runs out
Yaba! Ok! banks are no longer safe! i would advise the marketeers to keep their money in the main bedrooms, under the pillows or behind the cisten.
Ba Jamaco bakulu, No. 6, bwayamba ku ibala mahafu yatu?
Mwisaka ku pillow Baby C :d
Jamaco kwaliba finamayo ifyakwebaati ngachasunda man, basopo!:o:d/
ba LT am just having my 16 hours tea with tuta yaku boila and you bring on such a pic
LT has closed the PORN Thread!
Good principle but as usual the usual minimum balance culture not to mention charges will prove to be the main turn off with time,
one wonders why govt lets banks get away with such ludacris measures
And to the knuckle head MPANGULA MPUTYU (# 3) this is about the best thing that can happen to the financial sector in Zambia, potentially that is, wise up
26. Jamaco. Imagine. whats wrong with LT? the comments were coming in fast and furious. that is how starved of …infor.. people are!
# 28 I am surprised!! :o:o:o:o:o:o:o
LT has closed the Porn thread Sure :o:o:o:o:o
No wonder Ponyax never comes around
LT pliz, give us the porn story.[-o<:(
jamaco
Am equally suprised! whats wron with them?
=))=))=))=))=))=))=))=))
Jamaco I am told one of the politicians phoned them up and said they had to do it.
In the mean time the chap is busy watching porn! Not na ku Zed.
Just wait things were getting Sweet =))=))=))=))
This a big Joke Sure!! =))=))=))=)) Anyway the thread was becoming a Porn Site in itself =))=))=))=))=))=))=))=))
Yalilila =))=))=))=))
That thread was getting sweeter by the second!
What would LT do if we started the porn story on here as well?
Some Guys even took a day off when they saw that thread!! =))=))=))
38. 3RqU ???? Stop that! They will chase us!! l-)l-)l-)l-)l-)
hahahahahahaha abena zed, mwanisekesa… but its true number 25 how can they put up such a pic? and uja wa mabank yaba oga…iyo nizee maningi…thats too true mehn! nice ones guys
Am laughing my A .. Off people!! Ati the Porn thread is gone imwe!! Just like that!! =))=))=))=))
Naya guys. Ilyashi lyatemwa Ponyax lyapwa. 😉
Ok BA LT THEN GIVE US NEWS FROM THE LOCAL COURTS PLEASE ,I BEG YOU.
Baby C,
how r you? Wansekesha u know what i mean.Now check Mr&Mrs Osama
i told you your comments were becoming way too juicy
Guys lets post the porn thread here. so we continue with our debate
Man found in possession of pornographic material
January 28, 2009
A 46 year old man of Siavonga Township in Southern province yesterday appeared in the Siavonga magistrate court charged with the offence of possessing pornographic materials.
Henry Sakala, a Lodge manager at Eagles Rest, appeared before magistrate Veronica Sikwangala to answer the charge.
Particulars of the offence are that Sakala, a resident of Kaleya compound, was found in possession of obscene materials, contrary to section 177 (1) (a) of the penal code, chapter 87 of the laws of Zambia.
The court heard that on 21st January 2009, Sakala was found with nine obscene DVDs, which tends to corrupt morals of people in the co
:((
Lady Chiza [-x[-x[-x
48. Lady chiza’s legs
THE POWER OF INTERNET !!!! :o:o:o:o:o:o:o:o:o:o:o:o:o:o:o
:d/
Man Kunde
How are you! You are late! You ve missed the hottest topic on Lt today! the bad news is, its been closed! No more comments! Infact it was in connection with same…on the other side! am sure you know what i mean :d
=))=))=))=))=)) I JUST CAN NOT STOP LAUGHING!! ATI THE PORN THREAD IS GONE =))=))=))=))=))
JAMACO,
WHERE WERE WE ON THE PORN ISSUE
**== +:x =o-+&o=>
55. AFRICAN PRINCES I MA SCARED TO CONTINUE THIS TOPIC =))=))=))=))=))=))
Just in case I am banned by LT for being brave, I wish you all the best as you debate it guys. I live you with this quote: When they came for the Jews,
I remained silent; I was not a Jew. When they came for me, there was no one left to speak out. WILL MISS U GUYS
I WAS THE LAST PERSON BEFORE THE PORN TOPIC WAS CLOSED,
SO IS THIS LUCK OR WHAT?
Man Kunde
=))=))=)) naughty!
Lady Chiza please don`t go! Please! :d
We love you!
#48
GOOD THINKING, MAYBE YOU SHOULD CONSIDER ACTING IN ADULT MOVIES,
SPEAK TO JAMACO CAN HOOK YOU UP.
GOOD GAL.
Baby C,
I have seen the topic i will read some of comments and see how it went.
lady Chiza has greatly changed this year! congrats =d>:o)
Ok ba LT shani ilyashi limbi!
JAMACO,
NO PROBLEM,BUT IT WAS FUN, DONT YOU THINK SO
Guys :)>-
I am out
IF THE THREAD IS GONE, WHY KEEP THE TOPIC BA LT.
NI SHANI KANSHI? WAT NA HAPPEN.
THIS THREAD IS CLOSED! YOU VE GONE TOO FAR!
#1 Not even ‘interest’ when you put it in the mattress….nga madam ala sunda ? [-(
[-o<[-o<[-o<[-o<[-o<[-o<[-o<[-o<(*)(*)(*)(*)(*)3:-o3:-o3:-o3:-o**==**===d>=d>=d>=d>=d>=d>
Zambia oyee**==I miss you ^:)^
The most significant sentence in the article is the last one. Marketeers belong to the informal sector which does not pay taxes. If they have bank accounts ZRA will be chasing after them like there is no tomorrow. This bank thing will not work. I hope it does!!!
I missed the porn thread it must have been ‘scramptious’
People it is a trap for NEW WORLD ORDER.
CASHLESS SOCIETY BY 2012
Paying for goods with notes and coins could be consigned to history within five years, according to the chief executive of Visa Europe.
Peter Ayliffe said that, by 2012, using credit and debit cards should be cheaper and more convenient than cash.
Some retailers could soon start surcharging customers if they choose to buy products with cash, because of the greater cost of processing these payments, he warned.
Visa Europe briefed the British Retail Consortium last month on new “contactless” cards that can be waved in front of a scanner to make small payments
1984
That would be sweet.And practicaly sweeter for the extended family
#77
It is bad news,The plan is reduce the world population to less than one bilion.
#2 Shalapungu. You have summed it whole up. Similar words came into my mind even before I started reading the article. But how come it takes Zambia more than 4 decades of independence to realize that thats lost grz revenue? The other thing that can favour all stakeholders is enforcing the law on fixed aboard through the Post Service. Areas must be demarcated and given Post Codes and postage delivered to household and commercial plots plots. At the end of the day Banks will require that borrowers have permanent residential addresses for traceability. Not only banks, employers, and other institutions, too. Banks can never lend out money to a person with no fixed aboard.
PO Boxes are mainly for companies and other organizations and a thing of the past for householders. Because it favours neither borrowers nor the lenders, in this particular case.
#3 Mpangula. So, what do you call news? When RB is the centre of discussion? This is great news. In modern days I can’t imagin how one can operate without a bank account. Ask anyone. A bank account is not for apamwambas only. Law must be put in place where wages and salaries must be paid through banks and building societies for effective taxation and monetary control.
THATS MUCH BETTER
Look at the woman in the photo siting right on the side of dirty stuff. How can cholera spare us with this behaviour? Also, why dont local or foreign investors invest in gabbage collection to damp such waste as in the picture at designated places?
“He explained that the facility would only be available to marketeers trading in designated places so as to discourage street vending.”
Good, maybe Zambia will become Cholera better in the coming years.
“In Zambia, marketeers comprise a larger portion of the informal sector, which is not taxed by government.”
When are we going to start taxing the marketeers as a government?
What do MMD, PF and UPND manifestos indicate on such tax issues?
====
LT 2008 Award Winner. =; for Zambians in 2009 and the future.
People incase you dont know banamaliket bala lipila umosnko everyday.and the umosonko is different collected by diffrent people. so what that if its not tax?????? :-w:-?:o
One of the reasons Zambia has such a huge informal sector, is because the government punishes anyone who goes legit with heavy taxation.
So although I absolutely support the need to formalize the informal sector so they too can be more elligible for credit, the government should not think it can punish their good deeds by heavy taxation.
The government must meet them half way, by exempting them from taxation, in the same way it does ‘foreign investors’.
They aren’t taxed as it is, so what does the government have to lose – nothing.
And the government needs to clean up it’s own act first. It must show it’s seriousness by reducing the size of central government.
The government needs to set a firm example, and reduce the number of ministries and political positions – so they show that what people pay for taxes, is not going to bling for government ministers or to keep party loyalists employed.
If the newly surfacing informal sector appears, they should not be punished for doing the right thing by incurring massive tax rates. They should either be taxed a low sum (like 5% of their income max).
How can anyone agree with no taxes for foreign investors (whose profits will be nearly 100% externalized from the country), but the first reflex is to demand that the informal sector is taxed??
“South Africa: Joburg Brings in Solar Powered Traffic Lights to Help Congestion During Outages”
THIS IS WHAT IS NEEDED IN ZAMBIA. A MONTH OR FEW WEEKS AGO I DISCUSSED EXPLOITATION OF SOLAR ENERGY IN STREETS. BUT I KNOW IN ZAMBIA NO AUTHORITY EVEN READS WHAT PEOPLE DISCUSS ON THE BLOG. BUT THIS IDEA CAN GREATLY SOLVE THE PROBLEM OF POWER OUTAGES AS HYDRO WILL BE USED FOR INDUSTRIAL, HOSPITAL, ETC, POWERING. THEY DO IT HERE IN BRITAIN. SOLAR IS MAINLY USED FOR STREET LIGHTING WHILE NUCLEAR IS USED FOR INDUSTRIAL POWERING ETC.
Does this mean that it will be easier to tax them since there will be bank records of some of their receipts?
they just had to use the dirtiest picture they could find…awe mwandi…[-(
And when the banks go under, who will bail them out? Banks will definately welcome this move and they should be smiling as they think of the absurd bank charges they will extract from the poor. Good idea but address bank charges and those ancient teller machines that our banks have given us.