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MP Calls for Action on Bank Charges and Hire Purchase Exploitation

A local Member of Parliament has urged the Minister of Finance to take a closer look at the growing concern over excessive bank charges and exploitative hire purchase practices that are leaving consumers burdened with debt.

According to the MP, many citizens are paying up to three times the original price of goods purchased through hire purchase agreements. What often begins as an affordable payment plan quickly turns into a financial trap due to hidden fees, high interest rates, and unfair contract terms.- MP Chobe - Simasiku Oscar Mapulanga