“Are we really independent?”
Let me stop you right there😊.
Independence Day = Celebration of Zambia’s liberation from British rule; to celebrate founding leadership and their sacrifices; heritage and indeed cultural identity.
Independence Day ≠ Zambia is perfect.
It’s like a birthday! “Was I really born?”. Yes you were, Milambo. You were.
32 years today since we lost the gallant men and officials #Chipolopolo 🇿🇲. You were an amazing team. Because of you, we are whom we are #Zambia. Rest in eternal peace🙏🏾
Below are the annual returns one could expect if they invested their money in various money market options around February 2025. This data is publicly available on the BOZ website. The maximum return you could get on your money if you don't decide to put it in an actual business was around 22.8% for a 15 year bond.
Savings account: 3.65%
Current account: 1.75%
1 month fixed deposit: 5.29%
3 months fixed deposit: 5.47%
6 months fixed deposit: 7.57%
9 months fixed deposit: 9.17%
12 months fixed deposit: 10.58%
3 months treasury bill: 11.50%
6 months treasury bill: 12.0%
9 months treasury bill: 12.50%
12 months treasury bill: 15.10%
2 year government bond: 16.20%
3 year government bond: 19.45%
5 year government bond: 20.25%
7 year government bond: 21.0%
10 year government bond: 22.49%
15 year government bond: 22.8%
I have shared this to demonstrate what can be expected from any similar investment. Any promised return that deviates too far from these rates for the same durations is likely to be a scam. This includes village banks that promise to grow your money by 100% in one year. If that actually happens it is putting too much pressure on all members and it is a ticking time bomb before everyone defaults and people start taking each other to courts.
My emphasis is that money grows slowly but surely and you cannot reap returns beyond what your economic context can offer. Don't be a cheap victim of lies #nodignityinpoverty
The bill is now law & the law is applied as it is, not as we wish. I did a thread when it was a bill, but here is a refresher of what to avoid. Another thread. I've added practical examples just to raise awareness. There's also parts of what is actually in the Act.
With 🇬🇧 support, 🇿🇲 has recovered over £32 million (nearly K1.2 billion) in stolen assets. Met with Director of Public Prosecutions @gilbertphiri@NPAZambia recently to discuss our continued partnership. Tackling corruption is essential for Zambia’s economic growth.
Kelvin Puuka - Keembe Farm, Namwala🇿🇲.
“I started with K6,000 capital and would only supply 2 cows to Zambeef. Today I’m able to supply Zambeef with 3,000 cattle in a month” …making the young man Zambeef’s record holder