NAPSA Head of Corporate Affairs Cephas Sinyangwe has dismissed a proposal by the Zambia Association of Manufacturers (ZAM) to allow Small and Medium Enterprises (SMEs) to use employees’ pension contributions as collateral for loans. It’s difficult to comprehend how this proposal could possibly be progressive in the first place. How does ZAM envisage that this will work? Are they saying that companies can borrow using the NAPSA contributions of their workers? If this is the thinking, then it is completely flawed. However, even if the suggestion is that employees themselves can use their contributions as collateral, it is still a very bad idea. Kudos to NAPSA for not entertaining such a dangerous proposal! While the need for financing in the...