Financial Intelligence Centre, a noted investigation agency looking into financial frauds, recently revealed shocking news to the Zambian citizens, corporate and the government. The news was of mass money laundering worth more than USD 1.5 billion, which is staggering and astonishing when compared with the economic and social condition of the nation. At one side, Zambia as a country is trying to get out from its under-developed status and improve its economic and social status; on the other hand, there are individuals and groups involved in mass laundering of money, emptying the government’s finances and rendering it worthless.
Some of the top names in the list included lawyers, legal counsellors, government officials as well as ministers and those working closely with top Zambian ministers. Masozi M. Banda, a lawyer working with the Avic International, has been accused of laundering money worth more than USD 1 billion. When confronted, he stated that the amount is for government construction purpose and he received this amount from Edgar Lungu, the infamous president of Zambia. Another name in the list was of Sakwiba Sikota, the legal counsellor of the infamous Ventriglias and the owner of Central Chambers. His company is also accused of laundering money worth millions of dollars. It is more astonishing to see that majority of those named in the list has some form of criminal accusations against them. The Ventriglias are an infamous family noted for their unethical practices and Sakwiba is known to have participated in almost all these activities. The most infamous of them being illegally taking over the Portland Cement Zambia factory from Dr. Rajan Mahtani, its real owner.
The revelation of mass money laundering has certainly opened the eyes of the citizens, industrialists as well as the government. It is high time for the government to take stringent actions against these culprits and ensure that such mass illegal and criminal activities are minimised in future.