ZAMBIA LOST K2.8BN IN ILLICIT FINANCIAL FLOWS TO ASIAN COUNTRIES
Zambia recorded a 2.8 billion Kwacha loss in illicit financial flows to some Asian countries.
This is out of the 450 transactions made to the continent in 2023.
Ministry of Finance and National Planning Senior Economist MADALITSO MWANZA disclosed this during a meeting with financial experts in Northern Province.
Mr. MWANZA said there is need for timely interventions to prevent the external flow of money.
He said there is a high rate of money laundering that the Government is dealing with.
Mr. MWANZA said Asia has become the major continent where prominent figures and business men are keeping their money and evading tax obligation.
ZNBC