Zambian new President inherits empty treasury.

Written by on September 2, 2021

Zambia’s new president has told newsmen he inherited an “empty” treasury, while “horrifying” amounts of money had been stolen.

“People are still trying to make last-minute movements of funds, which are unauthorised, which are not theirs,” President Hakainde Hichilema said.

He defeated his rival Edgar Lungu in presidential elections last month.

Mr Hichilema did not name any officials. Mr Lungu has previously denied all wrongdoing.

Mr Lungu governed the copper-rich nation since 2015. He was widely praised for the smooth transition of power to Mr Hichilema, who won the presidency after five failed attempts.

Mr Hichilema won the election on a promise to tackle corruption, and to end the financial and economic crisis that has seen Zambia’s debt ballooning.

For the first time since 1998, Zambia plunged into a recession last year. It also defaulted on a debt repayment.

Credit: BBC


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