The Sunday News
AN obscure loan facility purporting to offer war veterans loans of between $10 000 and $30 000 has once again re-ignited the fight over the control of the former freedom fighters with leaders going to the extent of labelling each other “stupid” and the loan facility being dismissed as “scandalous”.
The loan facility fronted by the Zimbabwe War Veterans Trust purports to offer the freedom fighters money or agricultural equipment.
Zimbabwe War Veterans Trust chairman Cde Basten Beta said the loan scheme offered by a bank he refused to name would see the former freedom fighters getting the money and repaying it in five years.
He said interested war veterans were required to pay $50 administration and joining fee, after which they would be guaranteed loans ranging from $10 000 to $30 000 or agricultural mechanisation equipment of the same value, serviceable over a period of five years.
After paying the joining fee, one would then be expected to pay an additional $50 monthly premium to ZWVT, running concurrently with the premiums of servicing the loan.
Cde Beta said the $50 monthly premium would be used to set up a collateral fund, which would be used to pay off the loan in the event that the person who would have taken the loan dies.
War veterans receive a pension of around $209 a month which amounts to about $2 500 a year.
If a war veteran accesses a loan of $30 000 which is payable within five years, even all his/her earnings in five years will only amount to $15 000, half of the loaned amount before factoring in the interest and the so-called collateral fees.
This has angered other war veterans who now suspect this was a bogus scheme meant to defraud the former freedom fighters.
Zimbabwe Liberation War Veterans Association chairman Cde Jabulani Sibanda, described the loan scheme as scandalous.
Cde Sibanda said there was no loan facility of any kind for war veterans yet, adding that the liberation war fighters should not be hoodwinked into signing up for dubious loan schemes.
“That is the most scandalous scheme. The scheme is not known to us war veterans and it has nothing to do with us. It is up to individuals to sign up but I must say that they risk being swindled. If any one of the war veterans decides to sign up for the loan scheme they should do so at their own risk and must not come running to us when they get duped.
“I will not comment further about this rubbish scheme, but I should just warn war veterans against being swindled,” said Cde Sibanda.
However, Cde Beta said Cde Sibanda was stupid and lacked foresight.
“That is being stupid and a sign that he (Cde Sibanda) lacks foresight. Jabulani (Sibanda) has abandoned the welfare of war veterans and is now meddling in politics. He forgets that members want to eat, which is what we are trying to do here. If he knows that he is a war veteran he should come and join this project. We are in no conflict with him, we actually welcome him and many others like him,” he said.
Cde Beta said his organisation had already secured funds from local banks to buy the first consignment of mechanisation equipment which he said was expected to arrive in the country in October this year, in time for the new summer farming season.
He was, however, not in a position to reveal the financial institutions from which the funds were secured.
“Once one joins the Trust they automatically become eligible for the loans and they can apply through us. The scheme is aimed at financing projects such as farming and mining and for a start we are looking at farming.
“Beneficiaries will thus service the loans from money raised from their investments. We will not expect them to service the loans from what they are getting from Government, it’s not enough.
“We have raised enough money to see the project through and there are several banks and other powerful business who have helped us. It is still premature for me to reveal the names of our partners at the moment, but I can assure you that the money is there and the first consignment of the equipment will arrive in the country before October this year,” he said.
He said they were targeting to mobilise 30 000 war veterans to sign up for the loan scheme. So far 5 000 liberation war fighters are reported to have subscribed.
Cde Sibanda, however, warned that war veterans risked being trapped into a web of loan sharks who would pounce on them once they joined.
“Our comrades should not fall into traps of people who want to dupe them. Right now we are actually talking to the Ministry of Finance so that they can set up a loan facility for us,” said Cde Sibanda.
The two organisations have in the past fought verbal wars on who represents the interests of the war veterans.
