While Zambia has seen growth and development in the past few years, the rate of corrupt and unethical practices has also increased considerably. This can be attributed to the increased number of corrupt businessmen across public and private sector as well as across government offices, bribes have become a common strategy for corrupt businessmen to get their shady deals approved by the government officers and law, resulting in the loss of the common citizens. One such corruption racket was recently busted in Zambia, opening the level of unethical and illegal activities going on under the government’s nose. The FIC, Financial Intelligence Agency, recently revealed a loss of USD 1.5 billion worth of taxpayer’s money to a mass money laundering racket. This money laundering racket has been going on in Zambia for many years and the government did not have any clue.
One of the worst parts of this money laundering racket was the involvement of top lawyers, legal counsellors as well as government contractors and officials, much of whom are not tax registered or legally fit to perform any business. Some of the top names in the list were of Sakwiba Sikota and Masozi Banda, both of whom have been accused of laundering money worth millions. Sakwiba Sikota is the lawyer of the Ventriglias family and has been helping them for many years to escape law after engaging in unethical practices. For instance, the illegal takeover of the Zambezi Portland Cement from its real owner Dr. Rajan Mahtani is a live example of the incapability of the government to act straight.
Now that the money laundering bust is finally out, the Zambian government needs to take appropriate actions against the culprits.
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