INTERNATIONAL footballer Jacob Mulenga has sued football icon Kalusha Bwalya, Optimize Company Limited and Caluza investments Zambia limited in the Lusaka High Court for non-payment of interest on a loan facility amounting to US$50,000.
Mulenga is demanding payment of the outstanding balance of the loan facility.
He wants an order for specific performance of the agreements between the parties dated June 11, 2020 and July 1, 2020 and interest at the commercial bank lending rate.
In his statement of claim, Mulenga said on June 11 last year, in an agreement facilitated by Caluza investments, he offered Kalusha a loan facility of US$20,000 and interest of the equivalent amount.
He stated that on June 16, 2020 Bwalya who is former Football Association of Zambia president, borrowed another US$10,000 with an interest of US$5,000.
“On July 1, 2020 the plaintiff and the defendant entered into an agreement facilitated by Caluza investments, where the plaintiff offered and the defendant accepted a loan facility of US$20,000 with interest of US$20,000,” Mulenga stated.
He said the 1988 African footballer of the year in January 2021 paid US$20,000 as part of his loan repayment and in August this year, Optimize Company made an obligation to clear Kalusha’s debt.
“On August 30, 2021 Optimize Company paid the plaintiff US$30,000 through his Zambian Bank account in honor of its obligation to repay the loan on behalf of Kalusha,” said Mulenga.
“It was agreed that the outstanding repayments of the loans were to be effected by way of a bank transfer to the plaintiff’s bank account number 0150141285300 held at Standard Chartered bank which has not been credited since August 30, 2021 and despite a reminder and demands to the defendants to pay the monies owed, the defendants have failed or neglected to do so in consequence of which the plaintiff has suffered loss and damage.”
He is further seeking cost for and incidental to the action and any other relief the court may deem fit.
Maybe in good faith try not to do a lot of damage to Kalu’s reputation. He stands for a few good things post Gabon disaster.
Sport is a good thing and promotes good health. Get it going at the grassroots and the effect surges upwards…that’s what Kalu did at FAZ. The National Teams performs well…and qualify to AFCON. At the moment football pitches are empty on Fridays, Saturdays and Sundays. If there is some money at FAZ throw around a few footballs and nets to get it re-started. Use ‘sports for all.’
https://www.facebook.com/CHIPOLOPOLO-BOYS-118020275139/videos/tbt-the-great-kalus-kalusha-bwalya-last-goal-in-the-green-of-chipolopolo/10154652128455140/
Mr Mulenga your loan interest is toooo high
If this is all true, it appears very harsh. The man has paid the principal amount in full, the interest rate is too much ,he has already paid 50% of it anyway and has only delayed the remaining installment by a month.
This is serious exploitation of one in need. From your statement, the man paid 20k, and Optimize paid 30k on his behalf, that’s 50k already, you want another 50k to make it a 100k for lending a 30k? What a human being.
Usury a.k.a is illegal on Zambia even though people do it willy nilly. The outrageous interest claim will not stand in court. Perhaps the important thing is why does Kalu keep borrowing with these ridiculous conditions? Hasn’t he learned anything from losing his house over a similar debt a few years ago?
*A.k.a kaloba
Valid point Logic and I very much doubt if Mulenga’s company is registered with Bank of Zambia and ZRA otherwise the lawsuit will null and void above all illegal. Ba Kalu nabo why agree to such conditions nangu ni desperation for money.
Mulenga really? 100% and 50% against your own UNCLE…and now going to court…both of them should be ashamed 😱
Even if you agreed, buh still loan interest is too high Mr.