Zambia Reports has obtained copies of President Michael Sata’s personal bank account statements at Finance Bank, from January 2011 (before he was president) through the end of 2012, where a number of suspicious transactions can be observed.
Although this is hardly the only bank account maintained by the Head of State, there are a number of questions to be answered.
On two separate occasions, President Sata attacked his opponent UPND President Hakainde Hichilema by releasing his bank account details to the media. Now the same should be expected of him. Readers can download the full bank statements here to read for themselves, or see the embedded version below.
The opening balance of Sata’s U.S. dollar account at Finance Bank #0010106930015 was only $629.88 – indicating that this is not his primary account.
However, after becoming president, regular deposits were made into the president’s account by one BRENDA MUSONDA ZULU, who is believed to be associated with the roads contractor China Jiangxi (China Jiangxi works with Levi Zulu of Zulu Burrow Ltd). At one point, Mrs Zulu is seen to be depositing more than $33,000 in the month of November 2011 alone in $4,000 and $5,000 increments. Later China Jiangxi would grab lucrative contracts from the Road Development Agency (RDA), which had been taken over by the Patriotic Front, to build roads in the newly created Muchinga Province.
Father Frank Bwalya, who was formerly an ardent supporter of President Sata and the PF, said on June 16 2013 that he left his position on the board of ZESCO because of corruption issues, including an alleged $280 million no-bid contract that was handed to China Jiangxi under non-transparent terms.
According to RDA’s own documents on the contracts relating to the Link Zambia 8000 Road Project, China Jiangxi holds at least three current contracts – one of which began during the same period as these payments were taking place.
Among the outgoing payments, it can be seen that President Sata sent at least $5,000 to Mirriam Mulenga, whom he made Ambassador to Turkey and whom is rumoured to be the mother of one of his illegitimate children.
By the end of 2012, President Sata had siphoned a fortune of almost $200,000 in undeclared funds that stands separately from his official salary or known business activities. Meanwhile, the party to knowingly facilitate this account was Finance Bank Chairman Rajan Mahtani, who was being investigated for money laundering at the time the account was opened.
Stay tuned here for more facts and details as our investigation continues, as well as the release of more bank statements – including those of the president’s son and other parties.