Who Stole USD 3.5 Billion? A Nation’s Wealth, A People’s Cry

Who Stole USD 3.5 Billion? A Nation’s Wealth, A People’s Cry

By Dr Mwelwa

In every village, the elders say, “When termites eat the pole of the hut, it does not fall at once—but one day, it will collapse.” That is the quiet danger of money that moves in the shadows—money stolen, hidden, and sent far away while the rest of the country struggles with hunger, joblessness, and poor roads. This year, Zambia’s Financial Intelligence Centre has told us a story. It is not the kind of story that makes us laugh. It is the kind that makes us stop and ask: What is happening to our country’s money?

The report says over USD 3.5 billion was moved illegally out of Zambia in 2024. That is more than K90 billion. It’s hard to imagine that kind of money. It is enough to build hundreds of hospitals, schools, and farms. But instead, this money slipped through our fingers—some through fake companies, others through foreign syndicates, and even through phones and computers.

Foreigners are working with some Zambians to send money out of the country. They open companies in people’s names—ordinary Zambians who don’t even know what’s going on. These companies don’t sell anything real, but they are used to collect and send large amounts of dollars to other countries. Some of the money is said to be for buying furniture, but no chairs or beds ever come.

The Centre also found that some people are using illegal ways to buy and sell minerals like copper and gold. They carry the money in bags across borders, skipping taxes and customs. On the Copperbelt, some groups are smuggling copper ore and paying others in cash, just to hide from the law. In other parts, trees like mopane are being cut and sent to other countries in secret, with no permits. These are our natural gifts being stolen, not just money.

The report even tells of people who pretend to be teachers or workers in fake companies, just to get loans from banks. Others use their phones to trick people into investing in cryptocurrency schemes, promising quick riches—but many Zambians end up losing everything. One company, for example, moved more than USD 30 million through fake online businesses. Some were even linked to terrorist groups, hiding under Zambian names.

Mobile money, which many of us use every day, is also being used in the wrong way. Some agents have wallets with very high limits. Foreigners and criminals are using these to send money outside the country. Because the checks are not strong, they can hide the true owner of the money.

But perhaps most painful is to read about the money lost in government. A few public officers and connected individuals took advantage of contracts and court rulings to steal millions. In one case, a company was paid USD 10 million, but half of it was stolen by people working inside government. In another, over USD 40 million was passed around companies owned by the same people, and some of that money was used to buy farms and lodges for important persons.

In total, the Financial Intelligence Centre sent 951 reports to authorities like police and the tax office. From these, ZRA collected assessments worth ZMW 28.9 billion. But only 3 convictions and 7 asset seizures have been confirmed. That is like pulling out a few rats while the rest are still dancing in the kitchen.

Our elders also say, “A child who cries and points at the bush is not pointing at nothing—either the mother or something is truly there.” This report is a cry. It is pointing to the bush. It is telling us that behind the walls of shiny buildings, behind smart suits and nice speeches, some people are working day and night to take away from the country. They are clever, but they are not invisible. The Financial Intelligence Centre has shown us the footprints.

But the question remains: Who will follow those footprints to the end? It is not enough to gather data and print reports. If nothing is done, then next year the same report will come again—only with bigger numbers and more pain.

As a people, we must not close our eyes. We must teach our children that quick money is not always clean money. We must demand better checks at borders, in banks, and in offices. And we must remember that “what eats the harvest is not the bird in the sky, but the bird that sits quietly on the branch pretending to be asleep.”

The harvest of Zambia must feed all its people—not just the few who know how to hide in the shadows. The time to act is now. Let the law bite—not just bark. Let justice come—not just to the poor man who steals a chicken, but also to the big man who steals the nation.

Let us guard the granary together. For when the granary is empty, even the strong man will eat dust.