Zambia uncovers 1.2 million-kwacha fraud
By the AFREEQUE newsroom, based on News Diggers
Illustrative image · cottonbro studio · Pexels · Licence PexelsZambia’s Financial Intelligence Centre uncovered suspected fraud involving 1.2 million kwacha in a public school equipment programme. A newly created company allegedly received the contract and withdrew all the funds, while two officials reportedly received 10% of the contract, according to its money-laundering report.
The Zambian Financial Intelligence Centre (FIC) has revealed suspected fraud involving 1.2 million kwacha in the awarding of a public contract for a school programme. An entity created in 2025 and run by two employees of a financial institution won the contract despite failing to meet procurement requirements, then withdrew the entire amount in cash within three days, according to the FIC’s 11th report on money-laundering trends.
Two public officials sitting on the awarding committee received transfers equivalent to 10% of the contract’s value, raising suspicions that kickbacks had been paid, according to the FIC. The agency is continuing its investigations into the beneficiary company and the people involved.
