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Ex-Bank CEO becomes first Convict in corruption fight

Filed under: Breaking News |
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former DBZ MD Samuel Bwalya. Source: Facebook

A former Managing Director for Development Bank of Zambia (DBZ) Samuel Bwalya has been jailed in the current anti corruption fight launched by the Hakainde Hichilema Administration, reports Martha Banda.

The Economic and Financial Crimes Court which has been established specifically to try financial crimes convicted Bwalya to 15 months imprisonment with hard labour for corrupt practices involving K781,195.78.
The Anti Corruption Commission has been prosecuting the matter where it arrested Bwalya on 4th December, 2021. Bwalya, 52, of House no. 28, Sugar Street in New Avondale, Lusaka was charged with 12 Counts of Abuse of Authority of Office contrary to Section 21 (1) (a) as read with Section 41 of the Anti-Corruption Act No. 3 of 2012 of the Laws of Zambia.
“Details are that on multiple occasions between 1st May 2020 and 30th July 2021, Bwalya, a public officer, namely, Managing Director for Development Bank of Zambia, did abuse the authority of his office in the manner he arbitrarily directed 12 separate payments to different schools in the United Kingdom, South Africa, and Zambia amounting to a total of K781,195.78, for his children, using public funds belonging to Development Bank of Zambia,” Timothy Moono the ACC Spokesperson stated in a press release where he confirmed the conviction adding that this was an act prejudicial to the rights and interests of the government, a matter or transaction that involved a public body.
Lusaka Magistrate Faides Hamaundu presided and handed the verdict.
Zambian Eye Political Analyst in Lusaka says Bwalya becomes the first person to be convicted in the graft fight launched by President Hichilema when he ascended to the throne in August 2021. He has on many occasions accused the former regime of having looted the country’s resources.
When he addressed Parliament recently he said those who stole must brace to face the wrath of the law. He said unlike before where the cases took forever, this time the case will have to be determined within 90 days.
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