Zambia A Shame – Under PF

bowman1What can Zambians expect when the country is ruled by money changers and literally street boys like Bowman Lusambo and Stephen Kampyongo. Lungu has shoved Zambia under the carpet.

The reports like the one from the Guardian tells the story. Corruption is eating away the Zambian economy as Bowman pauses as chief thief catching smaller thieves (cops)trying to just buy bread. Check this out:

According to a report in The Guardian newspaper (UK) (The Guardian, 2015), Africa loses more than US$50bn (£33bn) every year in illicit financial outflows by governments and multinational companies involved in fraudulent schemes (The Guardian, 2015). The research carried out by the African Union (AU) in 2001 found that the number of illegal transfers of assets from African countries had tripled since 2001, when US$20bn was estimated to have been spirited out of the continent to offshore financial centres (OFCs) (GFI, 2015).

Zambia is a country endowed with rich copper resources, but these natural resources have not brought the country wealth; far from it, Zambia has been getting poorer. All copper mines are virtually owned by corporations and, in the past 10 years, they are reported to have extracted copper worth US$29bn, but Zambia is still ranked as one of the 20 poorest countries in the world (GFI, 2015).

The money that is lost as a result of corruption, money laundering and tax evasion costs poor countries an estimated US$160bn a year, almost double of what Zambia receives in international aid. If this money were to be properly utilized within its originating countries, it would be enough to save the lives of 350,000 children aged five or under every year and to buy retrieval drugs for HIV/AIDS sufferers.

One Comment on “Zambia A Shame – Under PF”

  1. Andsen Mwanza
    November 25, 2018 at 10:29 am #

    It is quite regrettable to intrust people with the affairs of this nation who are selfish


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: