THE Citizens Economic Empowerment Commission (CEEC) has sued Chisamba member of Parliament Moses Muteteka for defaulting on a more than K498 million loan.
According to court records, the CEEC has sued Mr Muteteka and Ms Naomi Muteteka as directors of Omega Transport and Maintenance Limited, for failing to comply with the loan facility repayment schedule.
CEEC acting credit manager Jeremiah Mwamba, who has sued on behalf of the commission, said the outstanding amount due for payment is K498,046,676, inclusive of interest.
The duo had applied for a loan amounting to K320 million at an interest rate of 12 percent per annum, to buy a tractor and accessories which was approved by the CEEC on May 12, 2010.
Mr Mwamba said the agreement was that the loan would be secured by a legal mortgage, to be created from the property of the Mutetekas.
The said property is subdivision 15 of farm 90 (a) in Lusaka.
The CEEC is claiming payment of all monies and interest due to it under the loan facility agreement and legal mortgage of the farm, to be recovered on the outstanding balance.
The commission is also claiming that the legal mortgage be enforced by foreclosure, possession of the property and sale of the said property and any other relief as the court may deem fit.
Mr Mwamba said several reminders and demands have been made to Mr Muteteka but he has failed, ignored or neglected to comply with the loan repayment schedule.
“Having failed, we pray that we should be granted the relief, being repayment of the outstanding loan facility,” Mr Mwamba said.
[Zambia Daily Mail]
With all the priviledges and remuneration of MPs; was CEEC funds meant for such people? Who needed more empowerment: MPs and or ordinary Zambians? I guess an MP can be classed as an ordinary Zambian too. Somehow, no wonder the CEEC failed. The powerful had a lot of influence. Without connections, you couldnt get any funding from CEEC. My opinion though; and it may be wrong.
You are right Kibinda. These guys were really selfish. It is suprising that MPs who had all priviledges cud be given such big loans 500m to one person? Was that money really meant for them? This is what made MMD a corrupt govt. Thank God they are no longer there. He may not be the only MP. The list maybe long.
CEEC just for cadres and the rich people, its time it is dissolved and ensure that all those with outstanding loans pay back.
12% per annum of 320 Million and fail to run the business? We sad to hear this as it is disturbing to us the MMD.
I tried to get a loan,but they told me to be in a group of 15 and that was just 50 million !
Watch this space, tomorrow HH will be protecting this guy that he’s being persecuted by PF.
I just wonder how many defaulters CEEC is going to sue. I had personally applied to CEEC and had met the criteria. I even had collateral which was valued by their own recommended consultants. I actually paid K3.5m for that, but could not just be funded. Reason? I was not MMD!! So PF is now targeting MMD defaulters before they start funding their own people. The circus goes on and on. As I knew what I wanted, the bank supported me and and have no diffculties in paying the loan. The POINT is lets support viable Zambians from the National resources regardless of their political affiliations!! Thanks!!
Kibinda waba Kabwa. I totally agree with your sentiments. CEEC means Citizen’s Economic “EMPOWERMENT”. Not deprivation. It was meant to target those of us who are wallowing in poverty but with ideas to get out of these dolldrums. I guess these are indeed the last days when the rich will get even richer with the poor worse poorer when even the little meant for them is taken away.
Shame on you Mr. Muteteka. Shameful indeed!
SO THATS THE MONEY THE YOUNG MAN WAS FLASHING AROUND WITH. RECOVER FROM HIM IN FULL. I DOUBT IF THAT MONEY WAS INVESTED IN THE RIGHT VENTURE. GO FOR OTHERS INCLUDING THE INFAMOUS K14B.
yakosa ba Muteteka.
Citizens must just get in the habit of repaying loans so that the recoveries may be used to give others similar previledges. It is African to think funds from such schemes are ‘from my govt’ and then not even intending to pay back; it happens all over Africa, and yet the govts mean very well in coming up with such empowerment programs. It is equally a disaster when it comes to such recoveries in Botswana, mainly due to misapplication of the proceeds into cars and other non-intended investments. PF, let us start afresh, especially with some of the proceeds from the Bond sold jilo!
Bintu bichinja…….. Musalu wali pesamba……………Inshiku shalingenye nyina no mwana…….Ifyakulya ubushi fitulikila kumalushi……..wituka in’gwena amatako yachili mumenshi….. Muteteke used to be untoucheble at some point now……………….
CEEC this serves you right i hope y’all that sit on the board get wats coming to y’all for oppressing the people who those monies were actually intended for in-fact this CEEC should be done away with as it defeats the purpose it was set up for
Will politicians ever learn?
Muteteka got this loan hoping it will be turned into ‘free money’ for as long as MMD was in power and he continued as a govt official. He never intended to pay back.
The intended beneficiaries of such this financial facility never even saw a dime given to them.
And this is the man who wants to run for the highest office of the land.
Shame on you.
To ask the defaulters to pay back is supported. We are now waiting for the K18 billion owed to the government and the people of Zambia to also be collected. This debt has been in the public domain for a while now but authorities have kept mute. Instead, the authorities have tried to obliterate this debt from the eyes of the public. If we are fair, then lets not be selective in the recovery of the debts. Those owing the people of Zambia the K18 billion must also be made to pay back.
spot on
CEEC is not meant for paupers but for people with capacity to pay back,vamahala went with Kaunda(eish this man) To mourn about being declined a loan is actually being petty,even bank dont just dish out loans anyhow.Muteteka pay back you loud mouth.
Abuse cuts across tribal lines! Muteteka is from Bantu Botatwe (Tonga, Ila and Lenje) tribes of Southern, Lusaka and Central Provinces taken together with minor dialects.
THIS MONEY WAS NOT GOING TO BE CLAIMED IF MMD WAS IN POWER AM SURE IT WAS APPROVED BECAUSE OF THE GOVERNMENT CONNECTIONS MR MUTETEKA HAD IN THE PREVIOUS REGIME.SHAME ITS TIME TO PAY BACK.THIS IS MY OPINION
Thats how they shared our money in MMD. People with genuine business proposals were not funded but the MMD were getting as much as they dreamed. Muteteka how many Nkongole do you have? Very soon you be jailed man. Pay back our money sir. Well done PF , but you should also not steal like the MMD. Serve Zambian you PF. This is free advise to you.
#1 THAT’S THE QUESTION THAT ALSO CAME TO ME FIRST. SO, CEECWAS EMPOWERING THE ALREADY EMPOWERED? HOW DOES ONE EXPECT THE ECONOMY TO GROW WHEN THE SAME VERY FINANCIALLY POWERFUL ARE BEING EMPOWERED EVERY TIME? MOST OF THE PEOPLE WHO GOT LOANS FROM THIS FUND NEVER DESERVED IT, AT ALL. THE MUTETEKAS OF ZAMBIA SHOULD HAVE BEEN GETTING LOANS FROM COMMERCIAL BANKS AS THEY COULD AFFORD IT.
Muteteka. This chap is very dull indeed.Swapping vehicles, now defaulting on loan payments, what was his repayment plan in the first place? Just rubbish!
The failing of MMD toward the end was the do and die stance in gripping onto power. But then like ropes of the sand power slipped away to now PF’s MC Sata. The dreaded. MMD were so cocksure and took it that they were impregnable and outright victory for them was a question of when and not may be or if. The likes of Henry Banda and the die hard group messed up the rest of the party faithfuls. And so now the economic bells will toll for Muteteka. No where to hide and no place to run too. Kinako, nako ifelile bo Muteteka. Pay up to avoid further humiliation.
It seems like there was alot of corruption in the MMD government-PF learn from your friends.
We have all realsed how rotten and decomposed the system in place is.The CEEC was for empowerment of the poor and i have gone round the country only the rich accessed the funds.I hate the circus and pliz LT out good news as this is too personal.we are intrested to know of the direction the country is herding……more pop corns
#6, BUT HOW WILL PF IDENTIFY IT’S MEMBERS IF TO BE PF SUPPORTER ONE DOES NOT NEED TO BUY A PF CARD? OR DID PF INTRODUCE CARDS NOW?
Yes he should pursued and so should those who CEEC and DBZ like the post and work (nchito). This application of rules selectively contributed to the downfall of MMD.
#8 HE USED ALL THE MONEY FOR ”SLAUGHTERING” AS MANY WOMEN AS HE COULD POSSIBLY ”SLAUGHTER”.
Yes he should pursued and so should all those who owe CEEC and DBZ like the post and work (nchito). This application of rules selectively contributed to the downfall of MMD.
Logic has it, that if you have signed up to a payment schedule, you should not default becoz if you do, YOU ARE AT THE MERCY OF THE LENDER!! So this silly mentality of selective persecution, does not hold – if anything you seem to want to promote all that is corrupt & suffocating this country!!!
NOW, THE TOP MANAGERS AT CEEC OR WHO WERE AT CEEC MUST ALSO BE ANSWERABLE FOR HAVING BEEN EMPOWERING PEOPLE WHO DID NOT NEED EMPOWERING.
This just shows the level of corruption in these institutions. In the first place, why give this chap money which was meant for small scale business operators, especially women and the youth? This is abuse of authority on the part of Muteteka as he used his position as minister to get this money from CEEC. And the chap wants to be president of Zambia? My foot !! Anti-corruption and DEC take interest in this matter and charge this chap accordingly. Pompwe munshibila nsala. Always stealing from the poor. From rugs to sudden dubious riches.
How the foolish have fallen.This Grade 12 drop out and former newspaper vendor owes Mwanawasa the 15 minutes of fame he enjoyed and which caused him to think that he was reposed with certain infinite wisdom.I will never forget the pomposity he displayed especially at Comfort Lodge as he enjoyed the company of women.Now he has to deal with the criminal case involving a bounced cheque,this debt and his poverty induced stroke.
Yes at Comfort Lodge where he used to drink Johnnie Walker Black Label.
Ooh mukwabo makani abicha wee.
CEEC is conduit/altar for an insidious form of curruption called POLITICAL PATRONAGE