Politics

Sata Surprised by Hichilema’s Alleged Wealth

Zambia’s President Michael Sata says he is shocked by revelations that opposition leader Hakainde Hichilema may be worth as much as $72 million.

Speaking at State House, Sata commented “You have worked for a long time but you are not as rich as some politicians. Surprisingly in Zambia, some politicians are richer than workers in formal employment.”

A document that was allegedly “leaked” by UPND members detailing Hichilema’s wealth has been circulated among state media journalists this week. The documentation alleges that ranches have helped Mr Hichilema to emerge as one of the leading suppliers of beef to Zambeef Plc, Zambia’s major exporter of dairy products.

Mr Hichilema has ranches holding over 90,000 cattle in Central and Southern provinces valued at over K360 billion, according to the document.

The UPND leader has four ranches in Choma operating as HH farm and Blukes farm which has 20,000 animals and another three ranches in Kalola, Chibombo district, property numbers F/1604/A, F/2270/A and F/9184 with a total 35 animals among other ranches.

Mr Hichilema has shares in various private companies including Zambezi Sun International Hotels in Livingstone, Pick N Pay, Game Stores, ALS Capital, a bureau de change based in Lusaka, Manda Hill Centre, More Beef Limited, Anglo-American Corporation and Delloitte and Touche.

He has three in South Africa, two in England, three in Lusaka and an office block in Choma.

The document further claims that theUPND leader has four accounts with ZANACO with balances of US$820,411.58, K45 million, K9 million and K135 million.

Mr. Hichilema has not yet personally replied to Sata’s accusations, but a source at the UPND denies the authenticity of the document. Pointing to recent public scandals of the PF government disseminating false information, such as a controversial letter from a tribal group, the UPND source told Zambia Reports that the Hichilema wealth document was “invented rubbish.”

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