Village banking turns sour, drinking buddies want their money back

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AN accountant has taken up Zesco’s role to shock his friends after he allegedly refused to pay back the loan he obtained from a village banking group for over two years.

Therefore the lending circle based in Lusaka called the Comrades Village Banking Group, has decided to embroil him in a legal battle and took the matter to the Small Claims Court to pursue the amount still owed.

Sprinkling salt to the wounds of group members, the accused, Mathews Kaputula, who works as an assistant accountant at a named firm, allegedly refused to pay his debt or ask for a convenient debt restructuring but was living a lifestyle likened to one of the ‘Miracle Money Papas’.

It is was revealed to Kalemba that Comrades Village Banking Group was formed by friends five years ago by drinking buddies who thought it wise to invest some money rather than spending it all on socialising.

This case is one of many incidents highlighting the potential pitfalls of village banking groups, a popular way for Zambians to access credit and save money, but one that can be strained by trust issues.

The group is now contemplating involving the police to explore if Kaputula’s actions constitute obtaining money by false pretenses.

“Kaputula has riled his friends through his dishonest conduct and abuse of trust. He has been actively socializing and spending lavishly on other social activities but has for many months failed to pay and honour his debt,” the group stated.

“We are now contemplating engaging Zambia police on the possibility of studying the facts to see if it fits the offence of obtaining money by false pretenses given his known capacity to repay the money and his private utterances to the effect that he got money with the intention not to pay back,” revealed the group.

Kalemba March 26, 2024

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