President Michael Sata is shocked that HH is worth K360 billion despite not having been in formal employment
President Michael Sata has said that he was surprised that some politicians earn more than people who have worked in formal employment for a long time.
This follows the alleged revelations by some United Party for National Development (UPND) members who leaked a document detailing the source of wealth of their party president Hakainde Hichilema who is worth over K360 billion.
The head of State said he was shocked that some politicians who have never been in formal employment are worth billions of Kwacha.
He said this at State House yesterday when the document about Mr Hichilema’s wealth was circulated to journalists.
“You have worked for a long time but you are not as rich as some politicians. Surprisingly in Zambia, some politicians are richer than workers in formal employment,” Mr Sata said.
And according to the documentation on Mr Hichilema’s wealth, the opposition leader has various business ventures, companies and properties, both locally and abroad, which is the main source of funding for the UPND.
The documentation alleges that ranches have helped Mr Hichilema to emerge as one of the leading suppliers of beef to Zambeef Plc.
Mr Hichilema has ranches holding over 90,000 cattle in Central and Southern provinces valued at over K360 billion.
The UPND leader has four ranches in Choma operating as HH farm and Blukes farm which has 20,000 animals and another three ranches in Kalola, Chibombo district, property numbers F/1604/A, F/2270/A and F/9184 with a total 35 animals among other ranches.
Mr Hichilema has shares in various private companies including Zambezi Sun International Hotels in Livingstone, Pick N Pay, Game Stores, ALS Capital, a bureau de change based in Lusaka, Manda Hill Centre, More Beef Limited, Anglo-American Corporation and Delloitte and Touche.
He has three in South Africa, two in England, three in Lusaka and an office block in Choma.
The UPND leader has four accounts with ZANACO with balances of US$ 820,411.58, K45 million, K9 million and K135 million.
Mr Hichilema is also believed to be associates with Costain Chilala, a prominent commercial farmer of Mkushi, and Boyd Hamusonde, proprietor of BH Diesel Motors.
The UPND is also believed to have received funding from the Liberal Party of Norway, which is under the leadership of Erick Ringes, a personal friend of Mr Hichilema.
[Zambia Daily Mail]