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LWESA Empowernment Scheme Granted Leave for Judicial Review
The Lusaka high court has granted leave for judicial review in a case in which Lwesa Empowerment General Dealers had its accounts frozen by Bank of Zambia.
This was after Lwesa Empowerment scheme Proprietor Sabwendo Simasiku filed an application following the action to freeze the organization’s accounts without a hearing.
Shortly after the ruling by Judge Frugens Mulenga, Mr. Simasiku expressed joy with the decision.
Posted by Admin
on April 28, 2012. Filed under LATEST NEWS.
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Lwesa njikata
April 28, 2012 at 8:50 am
Why ukwi kala pa nsansa shabanenu?Gud news
Duh!
April 28, 2012 at 9:20 am
Pyramid scheme. Read about it. Then you will see why govt banned these scheme
just me
April 28, 2012 at 9:32 am
more money in our pockets, BOZ should just regulate them and not ban totally like the jiliz, this is actually empowering citizens
1 sabala
April 28, 2012 at 10:17 am
I wish i was the one that started this pyramid scheme:( Robbing idiots in broad daylight! Aint nothin better!
finyoz
April 28, 2012 at 10:27 am
If u took part in this ndiwe chipuba. Zambians… Such gullible fools *smh*
ziman
April 28, 2012 at 12:37 pm
Surely its a pyramid scheme not different with what Maddox was doing in USA its only that Maddox fleeced fat cats big time no wonder the guy was slapped with 150 years imprisdnment. @ kupusa bati, in Botswana, South Africa Pyramid scheme is banned coz a lot of pipo were duped in the same way pipo lost money in million Rands and Pula. It works like this, those who start 1st to join no doubt are going to benefit but as you go on the guys(Lwesa) will fleece U it is like handling big cash on behalf of some1 on the way U wil get tempted. U will realise that its like you owe some1 money then U borrow from sm1 to pay and U a back in debt then you borrow to pay the latest debt and U go on and on no end. In short its like Lwesa robbing Jonh to pay Peter. Fwapusana ne cilimba in a cilimba ku kongweshana literaly U a lending a friend some money @ a certain time he is going to pay U back. Zambians open yo eyes.
Pabwato
April 28, 2012 at 1:39 pm
I totally fail to understand what this is all about. So many questions that they have failed to answer me proved that i can’t join or be part of such
Journal
April 28, 2012 at 3:09 pm
Chilimba faKe
Ine
April 28, 2012 at 8:53 pm
It just needed regulating .it is a nice scheme.Only that the originators are indigeneous zambians.****** inferiority complex pull him down mentality.and yet you do not complain over mtn and airtel daylight robbery activities.IDIOTS!
bn
April 28, 2012 at 10:23 pm
If such a scheme is to come to an end, what happens to the last participants? They lose out definitely!!!!! This is robbery!!!!!
o group
April 29, 2012 at 7:45 am
fake game
Sartre
April 29, 2012 at 7:56 am
lyf pa zed
J.G. PHIRI
April 29, 2012 at 7:59 am
MEN’S CHRISTIAN FELLOWSHIP OF LUANSHYA CONSISTORY have been organising a luncheon to host Bank of Zambia, Ministry of Finance.
”ICHILIMBA…….A PERSONAL FINANCIAL SOLUTION” IS THE THEME OF OUR LUNCHEON TO BE HELD AT CHOLWA GUEST HOUSE, LUANSHYA. TICKETS ARE ON SALE AT K60,000 EACH.
INVITED BOZ, AND MOFetc TO DELIBERATE, AND INFORM PUBLIC ON REGULATORY REQUIREMENTS FRAUD ACTIVITIES BY POSSY SCHEMES, AND IMPROVEMENT OF ICHILIMBA AS PRACTISED IN OUR COMMUNITY.
IN RSA THESE STOCKIE (ICHILIMBA) ARE REGULATED AND ARE DOING VERY WELL IN THE COMMUNITIES.
FOR TICKETS CALL 0966785660( AFTER 12HRS)
Guest Mweni
April 30, 2012 at 12:54 pm
The initiative to call BOZ to a luncheon and discuss Chilimba is a very wise move. What is required is to regulate Lwesa, and that regulation should include prescription of how much Lwesa should get for their administrative costs.
The Scheme is so simple to understand that it makes me wonder the levels of fear (or is it just inertia to understand?), that many Zambians suffer from.
The Lwesa version is pure Chilimba: Lwesa does not pay anyone but merely arranges that a person gets money from a given number of people after which that person is graduated off the scheme while new entrants are admitted to it.it is the members who pay each other.
The worry about who shall pay the last entrants is neither here nor there because the scheme is not planned to have last entrants. The idea is to let it run on and on, over and over again.
Lwesa should actually even be registered at LUSE so that I can buy shares in it.
Rupiah
April 30, 2012 at 5:06 pm
The most ****** fool is an ignorant fool. This was day light robbery and yet fools want it to continue. Theres no such thing as free money. Get yourselves a life, Work hard fools, get a Job. SHAME that some ignorant psychophants on this fora are also exhibiting ignorance. How do u get impowered on other poor people’s cash. Its all becoz of ignorance and lazziness
CK
April 30, 2012 at 6:51 pm
Can BOZ be strong on this theft. People will lose out definitely and at the end of the day, they will start crying for compensation from the Government because the fools (Lwesa) will have disappeared in thin air. Let us be progressive in Zambia guys. Aba ba Lwesa niba kelenka chabe.
Kasonso
April 30, 2012 at 10:39 pm
This is not a surprising move by the patriotic fools. There is always honor among thieves. Mahthan was given back the bank that was going against all sorts of banking regulations. What would prevent this government honoring the fellow thieves. We told you that ichi chimunthu nicovuta kuganiza you did not get the advice. Now tiyeni nazo osadandaula
kapuli wa ng'ongo
May 1, 2012 at 7:34 am
Please note that freezing the account of a company conducting illegal business is futile if such company is not deregistered and its directors are not prosecuted.
Chilufya
May 1, 2012 at 11:03 am
It is simple please read the sites below before you lose money. Lwesa is just a con company!
http://www.answers.com/topic/pyramid-scheme
http://www.ftc.gov/speeches/other/dvimf16.shtm
http://en.wikipedia.org/wiki/Pyramid_scheme
http://homepage.net/pyramidcalculator/
Clement .MC.
May 1, 2012 at 4:01 pm
God blesses the works of you hand.Let people open their eyes,you cant reap where you did not sow.Stay blessed,sons and daughters of mother Zambia.
ABC
May 1, 2012 at 10:01 pm
blaaaaa
DDD
May 1, 2012 at 10:46 pm
Blllllaaaaa
Bana Ceasar
May 2, 2012 at 8:02 am
Ba Tumfweko your site is always full of insult.It will be better not to publish the insults.LWESA is just ok.It was helping the majority poor Zambians who are always neglected by every party that forms govt.Just regulate Lwesa imwe bantu.
JJB
May 7, 2012 at 1:05 pm
My interest is to know what is the finale on the Lwesa Community Empowerment Scheme. When are we going to be preview to the judgement.
banda Jairos
May 23, 2012 at 5:32 pm
can someone or bank of Zambia tell me what a pyramid scheme as a native Zambian I know what chilimba is and to me its good for us Zambian situation at what ever level. now if I put my money say k300,000 in chilimba that has a cicle of 120 people, after 1 month what will I get. then if I deposit k300,000 in a bank or even bank of Zambia and go and withdraw it after 1 month,how mach will the bank give me. now between the banks and chilimba who do you think would still part of my money by using professional language like bank charges. PLEASE BEFORE YOU INSULT ME.understand me. what we need in Zambia now is Financial independence.we need to fight for it the way we fought for political independence. Lets understand and improve on the chilimba.The government must come up with an instrument to guide so that it becomes legal other wise what alternative does the bank have to help the people that are making ends meet with chilimba. chilimba is clean and better than the street vendors we have allowed back in the streets because we have no where to take them or we have no auternative for them not even bank of Zambia teckncrates have solutions.