The Lusaka Magistrate Court was informed that the Bank of Zambia’s advanced electronic monitoring system found no evidence to support allegations of a $20 million cross-border transaction said to involve the Presidents of Zambia and the Democratic Republic of Congo.
During the court proceedings, it was revealed that the Bank of Zambia’s electronic balance of payments monitoring system had been thoroughly reviewed to investigate these claims. This system, designed to track financial transactions across borders, showed no records of any such transaction between the two heads of state over the period under scrutiny.
The case revolves around accusations tied to rumors of financial misconduct, which had raised public and political concerns. The prosecution presented this evidence to highlight the absence of any concrete data supporting the allegations. However, during cross-examination, the defense sought to question the scope and limitations of the electronic monitoring system, arguing that while the system tracks official and recorded financial transfers, it might not account for transactions involving cash or offshore accounts.
The proceedings continue, with the court set to deliberate further on the credibility of the evidence and the allegations at the center of the case. The matter has drawn significant attention due to the involvement of high-profile individuals and the political implications of the claims.
By Best Jere