NAPSA SA loan records vanish

Records concerning the US$1.7 million debt reportedly owed by the defunct Zambian Airways to the National Pensions Scheme Authority (NAPSA) have vanished.

The new NAPSA director general Charles Mpundu says he has no idea of any such debt and he does not even know if the company owed any money in contributions on behalf of workers who have since demand payment.

The defunct Airline is reported to have owed $1.7 million dollars to the institution for more than four years and no efforts seemed to have been made to have the money paid back, at the time President Levy Mwanawasa was in power.

“Zambian Airways borrowed this money from the institution but they did not pay back because we know they were being shielded by some directors that were involved in helping them to get away with this.

But when President Banda got in office the administration started to make a follow up on the matter, as a result one of the directors fled the country to Germany because he feared that the then President Rupiah Banda would arrest him for failing to make a follow up on the issue,” sources revealed.

However, as soon as the Patriotic Front (PF) came into office, the entire NAPSA board including the chief executive were dismissed in unexplained circumstances.

Former Board members alleged that Zambian Airways wanted to borrow from Zambia State Insurance Corporation (ZISC) but when they asked to produce their balance books for verification, they never brought the books and this made it difficult to get the debt they wanted.

They alleged that after the Patriotic Front government came in office, the same people wanted to borrow from a named Parastatal Company but when they were asked to produce their balance books for verification, they never brought the books and this made it difficult to get the debt they wanted.

They also accused Zambian Airways directors of having no intensions to pay up the money because they were associated with people in higher government offices that would come to their aid.

Under the new regime, a director from ZSIC was fired. “They thought it was the director that denied them the opportunity when in fact it was the board that had demanded for the books in order for them to make a decisive decision.

The Board members added that “we are also reliably informed that the monies they owe National Airports Corporation (NAC) if anything would not be paid because people have been asked to stop talking about the same debt”.

This is so because someone from top officials in government was facilitating this and workers are concerned that if not checked most of these debts would just cease to exist,” they said.

They asked Mr Mpundu to give a clear position on what had exactly happened to the debt before they decided to take a step further.

Records concerning the US$1.7 million debt reportedly owed by the defunct Zambian Airways to the National Pensions Scheme Authority (NAPSA) have vanished.

The new NAPSA director general Charles Mpundu says he has no idea of any such debt and he does not even know if the company owed any money in contributions on behalf of workers who have since demand payment.

The defunct Airline is reported to have owed $1.7 million dollars to the institution for more than four years and no efforts seemed to have been made to have the money paid back, at the time President Levy Mwanawasa was in power.

“Zambian Airways borrowed this money from the institution but they did not pay back because we know they were being shielded by some directors that were involved in helping them to get away with this.

But when President Banda got in office the administration started to make a follow up on the matter, as a result one of the directors fled the country to Germany because he feared that the then President Rupiah Banda would arrest him for failing to make a follow up on the issue,” sources revealed.

However, as soon as the Patriotic Front (PF) came into office, the entire NAPSA board including the chief executive were dismissed in unexplained circumstances.

Former Board members alleged that Zambian Airways wanted to borrow from Zambia State Insurance Corporation (ZISC) but when they asked to produce their balance books for verification, they never brought the books and this made it difficult to get the debt they wanted.

They alleged that after the Patriotic Front government came in office, the same people wanted to borrow from a named Parastatal Company but when they were asked to produce their balance books for verification, they never brought the books and this made it difficult to get the debt they wanted.

They also accused Zambian Airways directors of having no intensions to pay up the money because they were associated with people in higher government offices that would come to their aid.

Under the new regime, a director from ZSIC was fired. “They thought it was the director that denied them the opportunity when in fact it was the board that had demanded for the books in order for them to make a decisive decision.

The Board members added that “we are also reliably informed that the monies they owe National Airports Corporation (NAC) if anything would not be paid because people have been asked to stop talking about the same debt”.

This is so because someone from top officials in government was facilitating this and workers are concerned that if not checked most of these debts would just cease to exist,” they said.

They asked Mr Mpundu to give a clear position on what had exactly happened to the debt before they decided to take a step further.

Categorized | Home News

2 Responses to “NAPSA SA loan records vanish”

  1. Sammy says:

    Kabimba please do not destroy our Zambia. Leave it the way you found it atleast because you will never add any value to this nation

  2. Janet says:

    Payday loan companies in Alabama make it convenient by just going ahead and offering the 4 roll overs up front.
    Once the application has been submitted, the system looks for certain
    information to make sure that it is within the lending
    standards of the payday lender.

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