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.
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.