FORMER minister of Defence George Mpombo’s legal woes have deepened with Finance Bank Zambia seeking to seize his farm for failing to pay a K675,695,865.14 debt.
This is contained in the originating summons filed in the Lusaka High Court commercial registry.
In an affidavit in support of the summons, Finance Bank credit manager Christopher Silungwe said Mr Mpombo pledged his farm number 10701 located in Ndola Rural as security under which the bank gave him a loan worth K500 million.
The loan attracted 26 percent interest rate per annum from November 19, 2008 to November 30, 2010, bringing the total loan amount to K675,695,865.14, which was still outstanding as at May 10, 2011.
The outspoken Kafulafuta member of Parliament borrowed the money to buy farming inputs, including a planter and a spray boom.
“The applicant (Finance Bank) has not received the sum, any part of it, or anything of value towards satisfaction of the said sum.
“Despite many reminders to settle the said sum, the respondent (MrMpombo) has neglected, failed and or has refused to settle the same,” Mr Silungwe says.
He states that Finance Bank is therefore claiming payment of all the monies due to it under the covenants of the mortgage deed sated March 6, 2009, made between the bank and Mr Mpombo; or an order of foreclosure to possess and sell the farm to recover the outstanding amount with continuing interest, and any other relief the court may deem fit.
The farm was professionally valued at K1.9 billion on July 31, 2008.
Mr Mpombo is also on trial in the Lusaka Magistrate’s Court for theft, forgery, and uttering a false document involving K18 million unretired imprest.
Last week President Banda’s son James sued him for libel over his allegations that the latter was involved in the alleged procurement of arms worth US$100 million from South Africa.
[Zambia Daily Mail]
lol, ni mpombo!!
They are out to get you George stick in there this is election year these people may leave office and Sata may help you with these problems- you are at war and I have promoted you to major now.
Great encouragement mate …
And think this is the problem in Zambia . Instead of giving loans to real entrepreneurs who can create jobs and spur economic growth, Banks just give loans to politicians because they are in power. Is this how Banking should be really?
If Mpombo was still defence Minister would this Bank have done what it has done? And how many current ministers owe banks money to date and we shall only hear it after they are out of office.
This is totally wrong and abuse of capital, instead of giving to real deserving people that can pay and genuinely create jobs and grow the economy.
Anyway Finance Bank was a corrupt bank, good at buying politicians. I rest my case
Good observation my friend. Banking pa Zed fuels corrupotion!
Sure Imwe banthu ! yabinja makani!! sivithu nkhani ya lula!! mbila yabulanda!! such is life any ways let GOD come and redeem us.
Braggadacio is in hot soup. I’m sure a fool or two will blame george’s financial indiscipline problems on the MMD.
Sometimes its good to look at pipos face b4 giving money, some faces you can tell that this one wont pay back. it wld do banks good if they employ pscholog….st
Products of the so called legacy ,shame,shame,shame,shemuna ,shame!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Manje mudala naye milandu kupaka wont hejst be sleep at court .Yaba chalo chamela meno
he got issues with jimbo
finace bank
issues at ministry where he use to work
No lawyer
friends ar running away from him
issues with his former party upnd or is it he is partyless
yaba!
Yaba! Ba Mbomb or Ba Braggadacio …you are in hot soup. Let us see who is coming to your aid. Let us see how the people you excite with your English will give you that amount to pay to the Bank. Hahaaaaa….I have never been a cadre or a polititian but the 1st loan I got from the bank K500,000,000 is all paid up in full! Actually the Bank is encouraging me to get more, but I no longer need a loan!
#2 Are you saying that Sata would interfere in Mpombo’s case? Is that not corruption or interfering with the judicial process? So if Sata comes in, we can look forward to some people being more equal than others? I thought this kind of behaviour is associated with MMD, if PF will be the same, then what change will they be bring?
Help can come in many ways, including bailing him out just now! He can be given a relief!!!
Maweeeeeeeeeeee! Never mix politics with business. Lets hope the bank is not being pushed by some hidden hand. Finance Bank is being run by hired hands, so its decisions in a number of matters may be suspect.
MPOMBOZI; how do i pay up all this
COBRA;just a minute am watching big brother.
MPOMBOZI. bamudala plz help me balanikaka imilandu nai fulisha where do i get the money to pay up
COBRA:sipo i have got some male white visiters from belgum if you willing for short time they will pay up for you
MPOMBOZI: he! he! he! you mean more money in pocket …mmmm am watching BANJA let me think.mmmm let call….
COBRA: DO N T KUBEBA
This is the beggining of the end of one Braggadacio…..so many cases and it will take a mirracle to survive them all. Worse still, you made a bad move, to insult the Government that gave you a chance to be somebody in society yet you clearly don’t deserve it. Watch out Ka Mulongoti, you are next, that Ka farm in Makeni will be re-possessed too. Hahaaaahaaaa…who has the last laugh?
Politicians borrow big and yet they are always let off the hook when they default. Us ordinary citizens pay back loans through our noses and we are always punished when we default. It is not only Braggadacio Mpombo who is in debt, a lot more must be made to pay it does not matter if they are in Government or not. Lead by example!
I think the bottom line Mpombo borrowed and put his farm as security.If he fails to pay,he losses.Mpombo is also eligable to borrow like any other zambian.How many ministers have borrowed huge monies from banks today?its only becoz power is on their side,so no banks or persons can harras them now,wait after parliament is desolved,you will see many ministers lining at lawyers offices and local,magistret/high courts.Power is sweet but becomes sower when it changes hands
I think the bottom line Mpombo borrowed and put his farm as security.If he fails to pay,he losses.Mpombo is also eligable to borrow like any other zambian.How many ministers have borrowed huge monies from banks today?its only becoz power is on their side,so no banks or persons can harras them now,wait after parliament is desolved,you will see many ministers lining at lawyers offices and local,magistret/high courts.Power is sweet but becomes sower when it changes hands.FTJ can tell you how things went wrong for him making his heart to start growing big,visiting heart specialist every 3months at morningside
Nkhani yalula i should think this man will soon be declared bankrupt u should owez try to preach wat u do.
We all sympathise with Braggadacio, but a lesson must be learnt, let’s avoid entertaining people through unnecessary publicity which in end affects our personal and family life. These headlines in the private tabloids may bring uncalled for misery to the innocent family.
The lesson is to borrow and payback in time and dont abuse your authority when in office/power.Banks should also learn to risk lending monies to SME’s who dont have enought security but have bankable proposals.In many developed countries,pipo borrow without security but here pa zed,conditions to borrow are hard and requirements too many to mention.Look at the interest rates these Micro finance organisations charge?way out of this world,its high time zambian government had its own bank again as these foreign bank cant help out the locals
I think Braggadacio Mpombo is truly bankrupt, first he bounces a 10 million kwacha chaque then all these court issues and the Bank loan…I am sure there is a list of other people and institutions he owes money. Besides all this, I am sure lawyers are cashing in. Braggadacio, when you decide to go against the powers that be, make sure you understand what you are doing…ask Kafupi, he sure bit more than his mounth could chew and I suspect he has a permanent damage on his health. Don’t be excited for nothing….boma ni boma….which ever way you look at it!
People never learn. There are a number of example and yet, they don’t learn. Mulongoti is next believe me. Soon, very soon, we will read about his fate. Others are the Shakafuswas of this world. I guess it is human nature to always learn it the hard way. I think Mpombo is now banking on the un bankable….nafuti, nafuti…
wina azalila! treat your verbal diarrhea man!
Mpombo wi bilima ababilima ta baya!!
Of course the public government controlled media are smiling all the way to the bank at this development. Obviously Mpombo, like a lot other personz in good standing withe MMD, did not borrow this money yesterday, but this just goez to show how dirty most Afrikan politix can be. How I wish a party can win/loze an election without scandalizng anyone irrespective of their perceived differencez real or imagined.
Cant GBM lend him some ndalama from his petty cash?
On this grave is one Mpombo braggadacio…
He lived to fight the fight
Its is the coward who showed the village where the brave man was buried.
May his soul rest in peace
1955 – 2011
No. 12 AGOA BWALYA: Is that the best you can do? The Bible says to me”….. So a man thinketh in his heart… so he is!” Give the poor guy a break man! This is some persecution of some sorts? Whilst we don’t know what arrangements they came to with Finance Bank (which we don’t want to know), the onus is on Finance Bank to keep these matters private and confidential. This (to me) reeks of revenge by the government from a few people for themselves! I really sympathise with the poor man!
people, lets reason together other people in power have borrowed huge amounts of money from the banks and no one is on their necks but our own mpombo being victimized. pliz, lets not kill the big man with depression.
Yaba….bati ubuteko bukali bane. Don’t play with fire if you leave in a thatched house. Mpombo’s house is engulfed in fire…….the payback will be painful, you can utter those big words in court but even your lawyers won’t understand you, the public gallery from which you stood and showered scorn and insult to the powers that be will no longer be that inviting. Even when Mpombo was deffence minister, I used to wonder how many more like him were ruling us…this is a shame!
Does the 1.8bn value of the farm include all those goats that Braggadacio displayed to us in his infamous interview? Does it include his collection of dictionaries? Or his memoirs of all those helakipitatious phrases? I dont think so. Braggadacio is rich. He will easily pay up. Actually, Guiness book owes him a lot of $ for the man with the richest vocabulary. He just doesnt have talk time to call them and push in a ka invoice. Cell Z, help Braggadacio.
Don’t try and show simpathy for nothing. What is wrong is wrong. Think of how much money these guys syphone from Government institutions, money that is never recovered ie FRA. Don’t sympathise with the smake just because it has been struck after entering your neigbour’s house. These guys were in MMD, they were as arrogant as a lot of others that are still in MMD but are clear failures. Call a spade a spade, we will never ever develop if we live by double standards. There are still a lot more in MMD who are rich over our money, but you want to support them when they change coats? …
Donchi kubeba bragadossio, see what happens when you borrow with the intention of not paying. Lets be serious and face facts, this is not politics. You don’t go to the bank and borrow money just to satisfy your ego and brag with bombastic language in the papers. Let mpombo put his pathetic linguistic acronyms to the test and tell the bank all about his dealings especially with other peoples money. This is the man who fails to pay a 10million kwacha, How is he going to pay over 600million kwacha. May be he should go and beg with the post to help him pay. Wapya munzi.
there is nothing political bout mpombo’s debt, no one forced him to borrow.He is a recless borrower, who thinks banks will write off his huge debt.Ieople like mpombo can offer in politics when he cannot manage his personal resources properly, what more national resources.
MPOMBO WIBILIMA IBILIMA TAYIYA TODAY MWALIBILIMA NOMBA MWALAYA YOU SEE GEORGE YOU AN ELDERLY PERSON WHO’S SUPPOSE TO LEAD BY EXAMPLE HONESTLY THIS CAN TELL THAT AT YOUR CHILDHOOD LEVEL MAY BE U USED TO BE IN KALOBA U NEVER USED TO PAY BACK AS A RESULT OWNERS OF THE MONEY USED TO POUNCE ON U .NOW SEE WHAT HAS HAPPENED U WERE VOCAL FOR WHAT U THOUGHT SATA WILL WIN AND HELP GRAB THAT FINANCE BANK SO THAT ALL YOUR CASES ARE THROWN AWAY NEVER LEARN FROM WHAT PEOPLE ADVISE U ANY WAY FILACHITIKA MR BRAGGADACIO,THE PANDORA BOX U WANTED TO OPEN NOW HAS OPENED FOR U MAWEEEEEE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Political mega phone ! Nincompoon !Bafoon . What a joker . He makes interesting reading with his bombastic words I must admit. Hang in there Mpombo change of government you will survive ne pa Africa ku kosa fye .
Lets take it at face value, Mpombo owe the bank and he surely must pay. And of course the reality in Zed political, you need to be politically correct to run any business no matter how small or big. Because GRZ has all the fingers in every Zambian pie.
Sometimes thats why our wives laugh at us when we resign from employment and then start eating ifyumbu for breakfast
LT why are my comments not being published?
Heheheheeeeeee!! Big mouthed Baboon Pombo, wapya munzi!!!! Lelolelo! You see, if you did not insult HH, he could help you. Ask Sata to help you if at all he has finished paying the $30million Taiwanese loan.
The past is catching up with Mpombo. Brave yourself for hard times. With Gvt in charge of Finance Bank anything is possible. But where did you take all that money?????
Mpombo cut your beards and sell to the Chinese, they will buy!!
Ba Mpombo, ndiye kuti ni ndevu izo olo mwanyamula nkhuku na mangala ku kamwa?
Problem ba mpombo balilandikisha sana!!! Even the way he resigned from government, there was no real reason for him to stop work. Just bragging that Banda is not following the levy legacy. Banda is an independent person with his own vision about this country. He was given the mandate to rule this country through the democratic process. Now him always complaining that Banda is not adhering to the Mwanawasa legacy. Very S.T.U.P.I.D.Y old man. Uzaciona if you thought this country is for the lamba’s only.
To each and every action, there’s a consequence. The past will catch up with everyone eventually. Including FTJ the pygmy from DRC
Ya ya ya ya they are out to finish this man i wonder what will come next
I support Mr Mpombo here. Here is a country desperate to make some publicity over something that is small. What is K600m. I would pay that without noticing it has even come out of my account!
Little money like that should not allow these people to undermine such a power figur in Politics. This man is well known countrywide, and although he has his own shortcoming, how about ficussing on what he has sone for this country. The media, the MMD, and some ignorant people in this blog are busy judging the man before he is found guilty. OMG what is wrong with you?
These are the same people who claim Zambia is this major country that they ‘wlobe’ and I would miss, hello? You are treating a major figure known world wide for his great contributions because he speaks the truth? so Dull! Thanks
This is a commercial deal. Don’t politicise it. The man got a huge loan because at the time, he was in government and he could repay while he drew a salary (not much) and could get per diems from travels as Defence minister, commission on contracts, and on top of that influence on Mr Politically pliable Mathani!
But, everything has changed now. Not in government. No salary. Legal bills. No free fertiliser. No Mathani.
PF=MMD ( ABUSERS OF AUTHORITY+RECYCLING THEMSELVES TO PERPETUALLY REMAIN IN POWER FOR THEMSELVES,FRIENDS AND RELATIVES)
Iwe ka Mushota. who knows Mpombo world wide ,known where and for what?. You are equally just braggadocco.
Iwe mushota, are you sane or what? The things you have said on this blog doesn’t make any sense. Where can you get 600million kwacha or are you one of the kapokos. Even the construction of you sentences leaves much to be desired later alone understood. This was purely a commercial transaction and the man is liable to pay, period. Can you imagine, he has not paid anything. He claims to be grammatically super-flours. Can he also tell us what he did with the 500million kwacha loan.For your own information the loan is compounded and discounted if you dint know, as we are discussing its accruing interest every second.Let him open his infamous pandoras box or has his opened already. Kulipila chabe finito.
Ba Mushota what money? You are just a broke bitch living off some sorry white balls otherwise you wouldn’t boast of sending second hand clothes to your kinsmen in Mbala…Atase!
..Braggadacio known world wide? Mushota you are funny. The Government gave Braggadacio a chance in life, he enjoyed it while he could. Just like it finally happens to all politicians, he fell out of favour and instead of just shutting up, he chose to be a vuvuzela but now he will have to hunt hard for words in those dictionaries to answer so many charges and court cases.
46 Mushota says:Tue Jun 14 at 10:40 amI support Mr Mpombo here. Here is a country desperate to make some publicity over something that is small. What is K600m. I would pay that without noticing it has even come out of my account!
YOUR A LIAR AS YOU DRIVE A CHEAP SMALL CAR AND THAT’S ALL YOU CAN AFFORD ON YOUR SOLICITING MONEY FROM THE RED LIGHT DISTRICTS.
#46 Mushota, what is Mpombo known worldwide for? Just asking.
What contribution has he made to the nation?
Listen !!What I am saying is you are talking rubbish of a man of high calibre. This man was once a defence chief he protected you; you were safe because of him! Look He is being tried for being brave for refusing to be part of a corrupt dysfunctional government. Look at the big picture that my point.
That is little money that we are trying to magnify, you don’t own a farm worth almost K2bn without having something about you. It is like someone coming to my Fiancé and me and publishing that we owe £10 000 when we own 2 expensive cars, a Toyota Avensis and my Micra and we have 2 well paying jobs.
Repsect Him That is too little money and embrace a man that speaks change and is a breath of fresh air. Thanks
Aunty you speak like a little girl in an expensive private school showing off the little things they have to try and fit in,how old are you?
@47, Mushota,
I like your postings at times.For sure 600million is such a small amount, if the man has a planter and a spray boom,it means he is a commercial farmer and the value of his harvest per season would exceed that amount by far. 1000 bags of maize would pay off that loan and yet Mpombo could be producing more.
It is good that he used the loan to improve his farming methods and I am sure he also created employment because the spray boom requires an operator. REMAIN STRONG MR MPOMBO,YOU WILL SOON WIN THIS BATTLE.
Banks are there to make money as well, i think this has nothing to do with politics, Mpombo must pay back the money. 2008 is a long time, he must have started a long time ago to service his debt.
I ka Mushota, where can you get K600 Million? Your cleaning job can barely pay you enough to buy all what you want.
People we should we worst time on this Mushota character she or he never talks sense this is a seriuos and the character wants to annoy all of us we should ignore this animal at all costs
#54 Ka Mushota. Well said, but that does’nt change anything about you. You own an expensive car? You need to own an expensive house, my dear not a car. The house is what makes you what you really are, not a car. It’s no longer fashionable to own 30, or 40 cars. 40 houses, yes – not cars. Your bitchy a.r.s.e will remember the time you are wasting being a b.i.t.c.h.!
RB s son running from a Post reporter like a rat.
#54 Mushota, but he defaulted on a loan, still. Politics or not.
Pls answer my 2 questions: 1. Wat he is known worldwide 4 and 2. Wat contribution he made in the nation. Being defense minister alone is NOT that much. LPM was president AND defense minister 4 a long time b4 appointing his uncle, Mpombo. Remember the family tree?? Yes, that one.
@54, Mushota, You are the only people who sounds sensible on this blog today.
1. Mpombo reisgned because he could not save a corrupt system.This is what we expect of good leaders
2. He has continued to speak for the poor by denouncing corrupt MMD
3. He has not rushed to join opposition becuase that is not a priority for him but to speak for the people
4. He obtain the loan to improved his farming methods and not spend it on posh cars and women like most politicians do
@62, I meant person
Pepecho suffering = pepecho foolishness = pf
@64, debate wisely and I am sure MOOWAMASANI = FOOLISH MMD BOOTLEAKER
ZAMBIANS, political or non-political, Mpombo is not the only recycled politician who abused authority.There are many more still abusing authority including RB and SATA.
This justifies HH/UPND appeal to you voters and well meaning Zambians NOT to vote recycled politicians because they want positions to protect themselves and their relatives and friends financially and in securing jobs for their children,relatives and friends.
HH is more interested in socially and economically be a servant for Zambians.
No.61, you are on the wrong forum.
#3 Papa J,
Your posting on this issue is the best and the most logical.
#54 Mushota, what are you. Are a bitch like most people are saying or a moron as I might think you are? Kwisa mwasambilile limbi tulande ichibemba echo mwalaunfwa pantu twamona kwati ichisungu chashupa. Inkongole ni nkongole whether ni pini or 600million.Can you ask mpombo what he did with findleys 10million, zambeef s 100 cows and finance banks 500million kwacha. This man is a terrible borrower, so you mean he was going to court for 10mllion ks when he had borrowed 500millio ks from finance bank and still failed to pay ka 10miilion k. How about the chickens he has shewed with his Vindevu. Can he honestly pay. Nonsense.
Pepecho Suffering Is speaking the truth. It is widely acknowledged that 20% of the Bank’s customers are profitable and the rest (80%) are there just for the sake of existing and if anything can be let go and the bank will not suffer. Same here Pepecho is speaking from my page and he is right. Remember Mpombo was a defence Minister, anyone who asks a dull question such as ‘what has he done or, what are his contributions’ is utter insane. His contributions do not have to be tangible; they are all there for anyone with eyes to see. He is twice the man you ever will be and he served you well when he was a Minister. It is like My fiance asking me what contributions I have made to our love, Its silly isn’t it? K600m only? what is that? Thanks
Surely once he gets his gratuity as MP he can pay off this loan…provided he can negotiate for the interest to stop counting but now that Raj is not there ahh it will be difficult but he can throw in his VX and a few dictionaries maybe even a few wiskers as he has those in abundance..how they miss Mwisho LPM
This is small change if you look at it from a Premier League footballer’s weekly salary. Mpombo owes this fradulantly managed Finance Bank 85 000 pounds sterling. Just political witch hunt on the part of our corrupt uncle Bwezani & Sons company. Soon he will mortgage Zambia to the highest bidder.
#72 Great logic – because premiership footballers earn more in a week than Mpombo owes, he should be let off the hook? My overdraft is less than premiership footballers earn in a week so should the banks let me off? Yes, why doesn’t this bank write off all the nkongoles owed to it which are less than a premiership footballer earns in a week – that makes business sense doesn’t it? Was Mpombo forced to borrow the money in question by RB? No wonder people say that pf supporters dont have the ability to think mwe.
Mpombo borrowed this money at commercial rates fron Finance Bank and it is surprising that among all borrowers of this bank he should be in the Daily Mail of Banda. Ofcourse the bank reserves the right to recall the loan since it has not been serviced as agreed by Mpombo, but I do not see why it should not be treated with atmost confidentiality as per banking rules, until all channels of trying to recover the K675 million are exhausted? Zambia is sometimes really depressing! RBish has pretended to be forgiving and reconciliatory as far as FTJs’ plundering of national resources is concerned, in the meantime, special branch is on special assignments to find anything destructive on Mpombo. This persecution of Mpombo will not end until he submits to this cruel and evil clique of unipist MMD!
@74, A very good observation indeed! Thank you.
What has Mpombo’s fraudulent activities got to do with what Premier League Footballers earn? The man is broke and these are the same characters the PF is courting. In other countries, this Mpombo of yours will not even be allowed to be a candidate. Such a man will spend all his time in government stealing from National Coffers.
sorry ba mwisho. try to borrow from mmembe.
74 and your friends, this case is news becoz Finance bank has taken the matter to court if you have cared to read the article. The other debtors are not being pursued in court. Why do you see politics in everything?!
For the PF cadres who think this is politics please smell the coffee. For a start this man is a public figure hence newsworthy. He got the loan in 2008 and has not serviced it since.
Mrs Pretty, I agree entirely that there is not politics in this at all, but lessons for us all, that this man is not to be trusted least of all with power, that we should take personal responsibility seriously. We cannot borrow money and not repay. The thing to remember is that these defaulters make loans more expensive for the rest of us as well. In the end someone else pays for their sins including taxpayers.
#73, you miss the point. Mpombo’s debt is no different to any Zambian citizen who is servicing a loan. Finance Bank is in trouble for its unethical banking conduct. There is no need for Daily Mail to make a personal matter between the bank & Mpombo a public interest affair. What happened to client confidentiality? They have not exhausted all means of collecting their monies and as such RB is using the bank that is going to be sold by his government to discredit Mpombo for standing up to his corrupt ways. This is abuse of state owned media to its best. So what does Fianance Bank achieve when they make this public? Even RB was bankrupt when he was pulled from his farm in Chipata there is nothing news worthy about that. Stop your illogical thinking about PF am not a PF member.
80 confidentiality ends when there is breach of contract in the form of failure to service the loan and the matter is taken to court. Confidentiality to a client in default is non existent my friend. RB’s bankruptcy never existed in court, although we heard of a few cases where companies he was shareholder in being taken to court in 2008/9 courtesy of the post- little wonder the post cant report on mpombo now? You clearly miss the point of Mpombo’s financial indescipline which will (un)fortunately find a scapegoat in politics! Cheap politicians/electorate in motherland indeed!!!
sorry @ #81 not 80
i have never envied mr mpombo’s reasoning skills, but never in my wildest dreams did i think that it was so bad. and after being used and abused for the post headlines, mpombo has now been dumped by mmembe. or is it that the post and its shareholders now have their own legal battles with dbz? by the way, for the benefit of those that were born today and speak loudest and ignorantly, mr sata had shares in the post in its early stages, he may still be a shareholder.
People have got money. You are saying K600 million is nothing???????????????
46# Mushota – 3 weeks ago you posted that your Credit File was bad and that you were still struggling to pay of f the loan for your Nissan Micra. Today you are saying that K600,000 000 is nothing for you. Mwaice – you tell too much lies.
82, no mcs has no shares now, kudala yes.
Nothing will change, the truth is Mpombo is in maningi trouble.
@ #74 There is nothing confidential about court matters. This issue is in court for arbitration.Do you understand simple law?
No. 79, what client confidentiality/ The matter is in court, which effectvely means it is in the public domain. You know that anyone can just turn in any court and have their day’s entertainment. Please remember on thing. Mpombo is a public figures. The man has made his bed and must now lie in it. Let us not use politics as a scapegoat for his illegal acts.
@ # 74What is UNIP about MMD? Even Sata was in UNIP. Can you honestly say PF is UNIP. Very shallow indeed!
And all PF needs is one more of their rotten dominoes, most likely Mulongoti, to fall before the entire party dies a painstaking slow death.
Is it just me or there are others on this blog that are rubbing their hands with glea that perhaps Mpombo’s demise may even help clean up Zambian politics, albeit to a very small extent? I mean, be rid of or reduce these no-do-good kaponya career politicians?
My honest thought is that if it was ever possible, RB should go into some understanding with HH. He can adopt the yourng man to be his vice and HH will have a definate chance of leading this nation in 5 years time. This will would be a guaranteed victory for the two of them. By the time HH becomes head of state, The Cobra would have been old and tired beyond recognition….just my thoughts.
Mpombo, just sell the K1.9bn farm, pay the bank K600m and do something with the remainder…simple, oh yaaa the titles are with the bank….anyway you can negotiate, I’m sure you get the gist.
Mushota please spare us your nonsense! who is interested to know what you have and every day you talk of your fiance! sowhat value does it add to the debate.ma rubbish,its like you have some personality disorders you need deliverance. stick to the discussion
It surprises me to see and hear people talk about debt and exclaim. Debt is everywhere, what we should talk but is if Mpombo has failed to pay back. Do you know his equity an individual. As a young man I look forward to borrowing for business monies far more than that. What more a minister. Nonsense. Please next time talk about his net-worth not just his liabilities.
#95 If mpombo had any net worth, worth discussing, his liabilities all over town wouldnt be an issue becoz he would service them in good time. A loan of 600metres since 2008 unserviced not even a dime and u say networth! Be realistic and see evil and opportunism for what it is OK? Wait till the other loan sharks are done with him, living beyond legitimate means must teach pipo lessons.
Hey he got that for farming obvious he wrote a business plan. Do you think banks are not thinking for them to throw their money like that. Please understand liquidity and net worth. He might not be able to pay that for now (Liquidity) but he has assets (net worth) to redeem it. He put his farm as collateral meaning he has assets to pay back. So please don’t capitalise on nothing but cheap politics. Check your company’s balance sheet and tell me how much it owes and if your company would be able to payback that amount if the owners needed their money instantly. Debt can be rescheduled. Its politics that makes it appear like treason.
Well politics or not… soon Mpombo will realise that
“When Days are Dark Friends are few…..”
Not even the POST as it has its own battle to fight in court…
Be strong Ba mudala fisanga abaume…
If you are old enough you will remember what Kaunda did to Shamwana.
The man become insane walking in Cairo road with a worn out pair of shoes
#81, The media have never been muzzled from reporting court matters in Zambia or indeed any other country. Do not be fooled by th fact that the POST have deliberately ommitted the story, they equally did not report their court case on DBZ as expected.You might want to find other more plausible ways of supporting PF, this one falls flat and brings your sanity and intelligence to question.
No 12 very funny
#92, no chance, no silver plates, just let hh start his politics from the correct level in his party.
#56
1000 is worth only 65000000 that is not even 10% of wat the bank is demanding
the man owes absolutely nothing is too much nkongole
Ha! It seems when you stop thinking correctly in Zambia, you join PF.
It is rather sad that a lot of things are happening to Mr Mpombo. Though he talks toomuch on almost everything, he shoud have been servicing that loan. He should have been the first to know that Banks loans are not to diverted to service other things, like buying expensive suits and ignoring the proposed projections you rendered on borrowing. I worked for Zanaco and I was in charge of the advances department. What I mean is that , we lent some money to Chindindindi Farms of Lilayi area, he put that money to good use at his farm but never paid the bank according to the arrangement. For those of you who live in Lusaka and usually use the Kafue road, tell me what what Chindindindi farms looks like. It was grabbed by the bank, concessioned and left the man a destitute.
26 percentile interest p.a. !!!!!!!
Hot dang!
Ndevu ziza pusuka nankongole. The sad part is that it is not the only nkongole he has.
BEEN OUT FOR A LONG TIME NOW BECAUSE YOU %^&*()%$S DONT KNOW HOW TO COMMENT ON ISSUES. BUT COULDNT RESIST THE BRILLIANCE OF NUMBER 12!!! YOU ARE RIGHT ON BRO. hAhAhA.
IMAGINE WHAT NEW ENGLISH WORDS THE OLD FOOL WOULD INVENT AFTER A NIGHT IN BED WITH A WHITE MUZUNGU