MP Jumbe commends Pacific Group over motor cycles loans to Kabaza operators

Member of Parliament for Salima Central Felix Jumbe has commended  Pacific Group Limited, a local investment company owned by Malawians of Asian origin, for loaning out 20 motor bikes to 20 bicycle taxi operators – Kabaza –  from Salima.

Felix Jumbe: Commends Pacific

Felix Jumbe: Commends Pacific

Jumbe thanked Pacific for bailing out the taxi operators and appealed for prudence on the part of the Kabaza.

“First I thank Pacific for giving our young men opportunity to grow their businesses, this is the only way we can develop as a country [by giving] each other opportunities.

“For you who have received the motor bikes my appeal to you is that you should be reliable in paying back the loans and don’t be over exited because the bike can make or break your future,” said Jumbe.

He added: “You should also know that the extension of the loan to other people will depend on your performance in the scheme so as people of Salima I hope you will not do something that may stop our partner to extend the loan.”

A representative of Pacific, Grant Chimenya said the company has extended the motor bike loan to Salima after they successfully implemented it in Balaka.

“The initiative was started by our director Mr Faizo Aboo after he was approached by people in Balaka, where we have now run a successful motor bike loan scheme for taxi operators,” said Chimenya.

One of the beneficiaries James Phiri from Katelera Trading Centre said that getting the bike is a dream come true.

“My ambition was to grow from a push bike to a motor bike and all of a sudden Pacific has come to my rescue, I promise to pay back the loan in time so that I can grow my business quickly,” said Phiri.

According to the agreement the bikes were purchased at MK 660,000.00 and each beneficiary is expected to pay back K2500 per day for three and half years.

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Mhango
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Mhango
5 months 28 days ago

Phusshi take your skanky little asian assure and go f*** yourself!If you dont want to see Malawians being uplifted from poverty then just step aside.Dont come here with tricks that cheat people who are already struggling and only make them poorer.

Mhango
Guest
Mhango
5 months 28 days ago

And what exactly is the development which has been made here? Graduating from a manual bicycle to motorcycle?You take real Malawians for fools.

Its just another case of giving people the bare minimum to survive and pretending you have helped them a lot when you’ve actually done very little to change their lives.Its exploitation!

That Aboo character should be careful.He’s the one responsible for that silly fish monument at Midima roundabout,now this garbage about 20 bicycles.He’s only doing this to get attention for Pacific Group.

Phusshi
Guest
Phusshi
5 months 29 days ago

Those of you who are saying this deal is day light robbery Tell the kabanza operators to return the motor bikes! Asakafuna akakolope lake malawi. Ng’wee ng’weee ng’weee inu tagulani njinga zanu mukawapase akabanza tione muwatchaja bwanji! Ntchito complaining and you cant even offer alternatives!

Concerned citizen
Guest
Concerned citizen
5 months 29 days ago

This is so pathetic.
The government must do something about this day light robbery.

we want to grow our people and we must protect them. Am sure these hard working people are blind somebody had to stand up for them. and unfortunately the one who was supposed to be the defender of the poor he z endorsing the robbery of his people.

Tengu
Guest
Tengu
5 months 29 days ago

first the deal is transparent! second, check the prevailing interest rates n the banks! thirdly, consider the risk factors. The loan provider may do better by revealing how they have covered the risk. Our guess is that they have taken out some insurance , including possible self-insurance to cover their risk. That adds to the cost of the deal! Fourthly, if the loan beneficiaries can reduce the risk factors, can the parties to the deal negotiate netter terms?

Puzzled Boy
Guest
Puzzled Boy
5 months 29 days ago

You see, 3.5 years=1,274 Days. This mean MK2,500 * 1,274 days=MK3,185,000.00. Now, MK3,185,000.00-MK660,000.00=MK2,525,000.00. What interest rate is this in the world? Is the regulator, Reserve Bank of Malawi, aware of this? Is the MP really trying to assist his people? He is someone who could easily have made some simple maths, he is sure this was one of the best ways to assist his youths in his constituency? Anyway

Shylock of the latter days
Guest
Shylock of the latter days
5 months 29 days ago

Hon Felix Jumbe muli mweee kusekelera while your sun burnt sweat bathed kabaza men are being skinned alive by this Shylock of latter days. Hon you r inneed a wolf in a sheepskin.

concerned citizen
Guest
concerned citizen
5 months 29 days ago

stupid MP, how can he betray his own people, what type of interest is that? 660000 to pay back 2850000

John
Guest
John
5 months 30 days ago

Is this MP stupid or something? How can the whole mp endorse such a stupid propaganda from from these Asians? For a motor cycle of less than a million they will have to pay over 3 millions? ?? With the poverty we live in these days? Come on people. .. being an mp is being a public servant. It is like you are a public eye. You don’t put your sheep in dander like that! !

soko
Guest
soko
5 months 30 days ago

Zomwezi jb adaziyambitsa ndi fundo zophweka bc0z zandale adathetsa. Lero ndi amalawiamwenye ndi fundo zao zimenezi. Doing things like this zititengera mtunda.

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