The Lusaka Magistrates’ Court turned into a theater of intrigue as a state witness revealed that Bank of Zambia (BoZ) investigations found no trace of a US$20 million transaction allegedly exchanged between Zambian President Hakainde Hichilema and Democratic Republic of Congo (DRC) President Félix Tshisekedi.
This revelation was made in the ongoing case against opposition leader Fred M’membe, who faces seditious practices charges under Section 57(1)(c) and Section 60(1)(b) of the Penal Code, Chapter 87 of the Laws of Zambia.
M’membe’s social media post suggested that Tshisekedi paid US$20 million to silence Zambia, a claim vehemently denied in court.
State witness, Moses Mbozi, a Senior Analyst and Data Support in the Statistics Department of BoZ testified that a thorough search was conducted on the electronic balance of payments monitoring system, which tracks cross-border financial transactions.
“On August 9, 2024, I received instructions to investigate any financial dealings between the two presidents from January to July 24, 2024. Using the Taxpayer Identification Numbers (TPINs) of both leaders and searching by name and the alleged amount, no transactions were found,” Mbozi stated.
Mbozi explained that the system monitors electronically recorded transactions and requires specific identifiers to track cross-border transfers.
“The findings were compiled into a report and submitted to the Zambia Police through a signed letter by the BoZ Governor,” he added.
During cross-examination, the defence, led by lawyers Leon Lemba and Benjamin Mwelwa, probed the reliability and limitations of the BoZ system.
Lemba pounced on Mbozi’s admission that the system cannot track cash inflows or funds sent to offshore accounts. “If US$20 million was flown in cash or sent to an offshore account, your system wouldn’t capture it, correct?” Lemba asked. Mbozi confirmed, “No, the system wouldn’t capture it.”
Pressed further, Mbozi admitted that the BoZ search did not investigate offshore accounts or collaboration with regional banks.
This prompted Lemba to argue that the search results were inconclusive.
The defense also questioned whether authorities had explored avenues outside BoZ’s jurisdiction, such as regional or international banking networks.
The matter has been adjourned to Wednesday for further proceedings.
