Charles Kakoma says Stanchart has frozen his Company Account for Political Reasons

Standard Chartered Bank
Standard Chartered Bank

Standard Chartered Bank
Standard Chartered Bank

Opposition UPND Spokesman Charles Kakoma has cried foul over the decision by Standard Chartered Bank Levy Mall Branch’s decision to freeze a bank account for a company in which he serves Director.

Mr Kakoma has since alleged that the treatment his company has received from Standard Chartered Bank was politically motivated.

“I never thought a reputable international bank could be manipulated by the Zambian government to victimise it’s political opponents. Today it happened to me. Standard Chartered Bank Zambia has frozen an account of a limited company in which I’m one of the shareholders because I’m a politician,” Mr Kakoma said.

“When I went to find out from Stanchart at Levy Mall in Lusaka why they froze the account, one of the staffers, Godfrey, told me that they were told that I was a high profile person who was appearing on the National Assembly of Zambia website as a member of parliament. He also told me that according to their search, I was also a spokesman for an opposition political party. I couldn’t believe that in our country, it is now an offence for an opposition politician to hold an account at a bank,” he said.

Mr Kakoma said in mid this year, the bank asked him o provide the shareholding structure for the company which he did through E-mail.

“Last month, the bank wanted the directors of the company to update their details. We did that by providing passport size photos, water bills as proof of residence, Pacra shareholding structure, etc.  Why am I a suspect? I was being asked to disclose how much I earn as spokesperson for UPND and what are my other incomes after leaving parliament. I /we owe the bank no money neither have I /we applied to get a loan from them.”
He said there is no unusual deposit to suspect money laundering.

“Why has our account been frozen? If Stanchart don’t want us to bank with them, fine. Close the account and give us our money. If I have committed a crime, please come and arrest me. I’m at home waiting for the police to come,” he charged.


  1. Of course there is more Mr Kakoma. Don’t rush to use political persecution. There is always two sides to a story. Why haven’t they frozen other politicians’ account and focus on. None entity like you?

    • Mr Kakoma, whoever said that this bank is a reputable international bank? It is international but definitely not reputable. This is the new face of former slave traders, who are here to stay “for good” – their own good.

    • Ba Kakoma imwe everything is political? We’re tired of your under five politics. Why didn’t you go and see the manager of that branch to get an explanation over the closure of your account instead of seeing “one of the staffers”?

    • Reading through the story, one gets the idea this guy is talking from his behind. No sane person would even begin to agree with the bull crap you are spewing!

    • This is purely a ploy by the broke PF to siphon money from opposition leaders and weaken them by reducing them into beggars. The fact IMF has given PF tough conditions to meets which are against the interest of its many stooges who might loose their jobs if PF agreed to IMF ‘s terms, PF is dead broke and it now wants to extort money from the opposition members.

      Very soon PF will also freeze HH ,GBM and many prominent UPND members account to reduce them to beggars.

      Kakoma should take the bank to court straight away without waiting for the police to arrest him.

      Under PF all the PF minions commenting in support of PF’s rubbish will soon loose their jobs when IMF agrees the deal with Lungu. Mwanya muzanya manzi

      VIVA UPND and The HH team.

    • Charles is a big **** how do you name an innocent member of staff in the press for talking to you. I am sure this Godfrey chap has been fired by now…for breaching data orotection laws.

    • Lets wait and see what Stanchart will do in response by monday end of the day.

      I suspect the story will be, government told them to freeze those accounts for tax purposes because now ZRA has been told collect taxes through the banks. Then ZRA will forced to cook up figures legitimise their hold on Kakoma’s money.

      I am interested to see most PF top officials publish their tax affairs statements!!!!!. I believe non has paid the correct tax since PF came to power. All they do is ask Lungu to intervene and tell ZRA to write off their tax owing.

    • PF is broke, be ware your accounts will raided in the dead of the night to supplement PF cadres support budget now that no one wants to lend them money. Lungu was summoned by Dos santos to explain when he pay back the money he borrowed now that IMF is so strict as the use of the money if it agrees to give zambia a bailout.

      He also wanted a soft loan from dos santos who told him he must first payoff the first debt. Mugabe ‘s debt is being cleared in exchange for tons of maize exported to Zim at zero price.

    • You mention a member of staff’s name but you don’t disclose your business name. You very dull Mr kakoma. Godfrey will lose his job and you will say its PF.

    • Perfect! there are always two sides to any story. Don’t rush to politicise everything. The fact that you are a politician does not mean that you are immune to scrutiny like any other citizen. Gone are the days of hiding behind politics to commit crimes. Mr Kakoma if there is anything untoward against you wait and get all the facts as well as give the story from the bank’s side. Not very sure what political interest other political parties would have in forcing a bank to preeze your Acc. only and not those of Sekwila, sunny and Godfrey?

    • Take heart Kakoma, if Stanchart was government owned I was gonna give you my ear. Alas, big bro BoZ is always sniffing on unusual transactions in every business and personal accounts. I have a feeling there is more to your story than you are sharing. This a problem with 99% of UPND members; they think they are above the law.

  2. It’s just normal bank procedure in fact it is a requirement by BOZ to have updated details from time to time. I am sure they didn’t provide all the information the bank asked for. By the way, am a strong upnd supporter.

    • Two years ago stanchart kept on asking us to provide directors details and when we couldn’t they froze the account. And non of our shareholders is a politician. So may be his email never reached the bank, hence their action

  3. UPND all you know is how to cry foul. Kakoma, you will be embarrassed when StanChart rushes to the media with their reasons.
    Under 5 behaviour runs in your blood all you members of the cult.

  4. Its unlikely. Kakoma may not be telling truth; either a/c KYC details not sufficient or sum other irregularities.StanChart is Smart bank tho can’t match FNB.

    To me, FNB most Efficient ,Smart Bank in Zed.

  5. If it was political HH and GBM would have been the first casualties. No Bwana CK sort this one as a business protocol.

  6. Any bank can be suspicious when a customer whose average balance over last five years is K5,000 per month suddenly has K5,000, 000 in his account in one month! No bank wants to be accused of money laundering. There is therefore nothing political about StanChart’s action.

    • Imbushi,

      You have a point. I remember one time when one of my contracts ended and my employer deposited a large amount of money in my account. My bank manager called me to confirm the source of the money. Then he gave me advice on how best to manage my money in terms of investment options. I never considered the bank manager’s behaviour as suspicious and unusual; I thought he was just doing his job. So if there is nothing unusual or suspicious about Mr. Kakoma’s source income, he has nothing to worry about.

    • @ Nzelu, you asked for a level headed PF to respond and what did you get?

      Mr Kudos!

      This is so typical. Zambia wanted a PRESIDENT and what did we get?

      A drunken kleptocrat! Hahaha!

      @ Imbushi, you should pay more attention when you read. Kakoma states quite clearly there has been no unusual deposits.

      It is quite possible this is a result of political pressure. Just look at how PF used ZRA on The Post. And the IBA on Muvi tv and Komboni radio.

      This is how Lungu and his thugs work.

  7. Kakoma with your money laundering in the name of pseudo company, just wait for ACC to visit you then we shall know the truth.

  8. Imbushi,

    You have a point. I remember one time when one of my contracts ended and my employer deposited a large amount of money in my account. My bank manager called me to confirm the source of the money. Then he gave me advice on how best to manage my money in terms of investment options. I never considered the bank manager’s behaviour as suspicious and unusual; I thought he was just doing his job. So if there is nothing unusual or suspicious about Mr. Kakoma’s source income, he has nothing to worry about.

    • Godfrey must be one talkative chap like most Zambians…he thinks he is in a bar where you can chat any how..instead of referring issues to his manager he decides to open his mouth.


    • This is supposed to be a confidential matter, therefore you don’t expect the bank to “tell the nation ” on what lead to freezing the account.

    • @Ndanje khakis:
      You better stop taking Mbanje – Look you now have rotten brains full of Mbanje! This is no longer a private BUT political matter as Kakoma has clearly stated and come out!
      Kakoma clearly wants everyone to know how banks are used to victimise politicians from the opposition. The REAL LESSON for opposition politicians is to AVOID, SHUN and move away from STANCHART. They should ALL do this to send a strong message to this useless bank which is under the control of PF Cadres!

    • Chilyata don’t reply to my posting because I don’t want disrespect anyone. Your insulting habit should be confined to your tribesmen because to them it’s normal.

    • How can Kakoma be victimized if his hands are clean? Why is he scared? That is suspicious. Rushing into crying “political persecution” is also highly suspicious. I would expect a statement like, “they are free to do all the audits that they want, but they wont find anything illicit – they are just wasting their time”. But no, it is “Godfrey told me……..”

  10. Now I am suspicious, what exactly is UPND up to in this country? This Charles Kakoma has most probably inadvertently revealed what the UPND did not want us to know. Of course iwe Kakoma, if they find that what you are doing is inimical to the interests of the country, they will come and arrest you. If you are innocent they will not arrest you. Just know that in crime there is no such thing as a watertight plan, there is always a trail or a leak or even simply patriotism.

    Waulula boss wako iwe Kakoma. Banks do not act that way for no apparent reason. That account must have been used for an illegal activity. Kakoma probably knows, or is he being used without knowing it? Can’t wait for more. Donkeys are getting scared and crying….hiho hiho hiho hiho hiho hiho.

  11. The bank should not freeze someone’s account without giving any reason. Sue them. Zambia under PF is infected with PF venom against the opposition. They can’t do so with HH and GBM because they know that the people will rise against them.

    • I left Zambia for the first time to live abroad i left some money in my bank account at Barclays Longarces Branch, when i went back after a couple of years i was told my account didn’t exist.

    • @Trigger
      Join the club…in Zambia unlike other countries if you leave $100 in kwacha equivilent after 5 years you think you would have accrued some interest alas the balanced will be eaten up whole by bank charges even though you have never touched the account. Its a rip off …no wonder a lot of people are in the black market.Why should you be charged for bring a service to them?

    • Who should the bank give the reason? the public? No. They gave the reason to Kakoma himself but as usual he would not like to tell the public that reason. So he goes to the media and the media just publishes the news without even speaking to the Bank or even to the “George”. This is not very professional for our media house. It is bad ethics. They are supposed to report fairy and factually. So they needed to contact these two (Bank and Mr George).

    • Choose accounts smartly, not all accounts accrue interest. If you don’t enough money, just keep it under your pillow.

  12. Comments reserved at the moment as Stanchart is an imperialist agent whose agenda is to disenfranchise locals in favour of boer farmers and white mining firms. However if Kakoma a known blood thirsty animal that is against reconciliation and forgiveness is having tough times with them then its a matter of karma and the chickens coming home to roost!!!

    • Not as much to hide as PF!

      Has Lungu paid tax on his stolen K230 million for example??

      And where has tthe rest of the Eurobond gone? The AG report can be totalled up by anyone with a calculator.

      Where did the PF K60 million for campaigns come from?

      The list is a lot longer on that side.

  13. Hi Charlie. Why do you want to resolve your personal problems in the media? You are a nit so important politician, the last time I checked. You are riding on the school of thought and operation of the Post Newspapers. See where the Post are today and learn the lessons. By the way visit ZRA it’s possible you have some serious unsettled Tax obligations and so your account has been garnished. Hehehehehehehe

  14. Let us hear the side of Stanchart. Why is it that LT writes in sensational fashion to trigger conspiracy theories? They do not even have the decency to indicate whether or not they approached Stanchart, whether or not this Godfrey (and how many Godfreys) work at this branch, etc. This is very poor reporting. I reserve my comments for now on this specific topic. Sometimes a crook will not tell you how he got his wounds…

  15. Mr Kakoma is the spokesman for UPND, but is not supposed to appear on any website as a Member of Parliament. If that is the information that he presented to the Bank, then I would like to be on the bank’s side.

    Learn to tell the truth Mr. Kakoma and don’t spice everything with hatrade.

  16. Dear Kakoma all your life you have never been that smart you always were a slow coach to the race even Lillian knew that…KYC as you know is reinforced viciously oh by the way that means Know Your Client…you are one of those fossils in the party as your relevance is minimal. We urge you take a back seat and let a younger person charged with vigor to be our spin doctor? Lets go the convention HH and his lot out no goals 5 times awe….we need a new look team…so KAKOMA go and speak with your bankers before you speak to the press also we know most of you have been receiving money in the name of the party but banking it in pseudo companies now answer what you have opened. 2021 yazaaaa

  17. Kikikiki yaba iwe @sengeleti wandepaula kukuseka ati DUNUNA REGRET,

    kanganveka mushe ka nyimbo
    Dununa Dununa yeeeee, aaa yeeee dununa regret….

    Balya bambi yabanyokola njala ayeeeee, dununa regret..

  18. There’s something fishy remember whilst driving along Kafue road from town, traffic lights at Lumumba, Chawama, and Makeni were turning red whenever approached

  19. EVICTED ZOMBE FARM FAMILIES! Is that what will become of Zambia? If someone is in government; even if they were born yesterday, they can come with government guns and evict you from your land? Is that all what it implies to be an elected government; gaining power to acquire land anywhere and then probably mismanage and misappropriate government funds to build mansions on such land? Where are the opposition members of parliament? Kindly look at this matter and exhibit your side of alternative government. Or does the silence by members of the opposition mean that they would have treated the people of Zombe in the same way they are being treated today? I sincerely wish to see how UPND would tackle this matter. It does not matter if those people look poor. I was so touched by that old woman…

    • @Lsk Times please put up a report on these Zombe farmers that @Surprised!!! Has mentioned. Some of us are in the dark. However don’t expect blood thirsty UPND MP’s such as Nkombo and Mweetwa to sort the problem those guys like the rest of UPND MPs are selfish chaps that are more interested in womanizing and adding more wives to their harems and that is a fact! Evidence is there of their womanizing ways how can one expect proper represntatition from UPND? Had it not been for the PF govt pumping more aid there, those UPND MPs would have nothing to show.

  20. Those defending or judge should wait for the truth instead of insinuating police victimization. Maybe Mr Kakoma has committed an offence which has nothing atall to do with Upnd any its executive may not even be aware. Remember Kakoma is an individual who free to attend to personal matters other than those of his party.

  21. We are n’t surprised since under 5 politics of crying politics seem to have become common whenever UPND members are caught up by the law. Even the Post cried politics when ZRA pounced on them for not paying tax blaming innocent PF.

  22. @7.2, Zambia wanted a serious opposlition leader to provide several options for President to choose from and what do we get? A donkey with his selection of an overfed donkey for a running mate! Hiho hiho hiho hiho hiho hiho hoho. No wonder they had difficulties putting a donkey on the ballot papers!

  23. I hope they have designed police cells for those two donkeys, they surely are up to no good if Kakoma’s case is anything to go by. This is just the tip of the ice berg.

  24. Proper lie kakoma if this really happened like that we shud be reading the manager told me this,gave these at now u are a big suspected money laundrer.get ready to go in cells mwata.

  25. It does not add up to live and enjoy a lawless life and when the law seems to be catching up, you cry, claim or allege political persecution.
    Unprecedented hypocrisy! Have you been paying your taxes?

  26. Kakoma, that very ridiculous to say the least! What kind of mentality is that where everything is politically instigated against you. I’d want to know how many ‘political’ errors your wife, children and everyone except HH & GBM have committed against you since UPND lost!

  27. The bank keeps money for diverse kind of customers. Why you and not him or her? The UPND is not the only opposition party in this country. Others sort out their problems with the banks quietly and you want us all to help you cry.

  28. I feel for Godfrey,he was just trying to help a man who is reckless,confused and behaving as if the sex worker demanded her money from him,went to withdraw money only to find the a/c frozen.Godfrey nexttime do not be a loose canon.The ungrateful man has now put you in an alkward position,anway goodluck.

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