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Army Headquarters Garrison Commander, Golden Ng’andwe, has cautioned soldiers against taking loans with exorbitant interest rates, warning that such debts could hinder their financial progress and long-term security.
Speaking on Saturday during the 30th-anniversary celebration of Intake 27 of 1994 at Army Headquarters, Ng’andwe urged soldiers to adopt sound financial planning and invest in sustainable livelihoods.
“As you build sustainable livelihoods through multiple financial streams, avoid loans with high interest repayment plans that may derail your progress,” Ng’andwe said.
He also encouraged members of Intake 27 to adequately prepare for life after retirement.
Ng’andwe expressed concern about the growing number of former servicemen facing financial hardship due to poor retirement planning.
However, he praised Intake 27 for setting a positive example and expressed confidence in their ability to avoid such pitfalls.
“It is disheartening to see ex-servicemen become destitute due to lack of sound planning. I am confident Intake 27 will not follow this path,” he said.
Ng’andwe also commended Intake 27 for their outstanding contributions to the Zambia Army, including roles in internal security and peacekeeping missions.
Meanwhile, Organising Committee Chairperson Warrant Officer Class One (WOI) Micheal Mwale expressed gratitude to Command for supporting the celebration.
“Sir, allow me to thank Command for the guidance and honour to celebrate 30 years of unbroken service and true comradeship. As an Intake, we remain committed to serving with distinction and mentoring young officers and soldiers across the Zambia Army,” Mwale said.
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