Finnish Ambassador to Zambia Timo Olkkonen has said that the revelations contained in the 2017 Financial Intelligence Centre report are alarming.
Mr. Olkkonen has since commended the FIC for bringing to light the misuse of public resources, tax evasion and corruption.
In an interview with QTV News, Mr. Olkkonen said that from a good governance point of view, it is less important to think about the communication structures in which the FIC revelations were made.
Mr. Olkkonen said that it is important that public discourse is centered on the facts and evidence that has been discovered and not communication channels the FIC should have used.
Mr. Olkkonen stated that that if there is evidence of misuse of public funds or tax evasion, these crimes need to be followed up regardless of the process of how they were made public.
Mr. Olkkonen Stated that law enforcement agencies have an obligation and responsibility to follow up the revelations contained in the FIC report.
His comments follows attacks on the FIC following the publication of the report of its investigations.
Meanwhile, on assessing the implications of the FIC report to foreign investments, Economist Chibamba Kanyama told QFM News said that foreign portfolio investors generally want to invest their money in countries where financial systems are secure and most of them have invested their money in Zambia because of their confidence in financial systems such as the Bank of Zambia Anti-money laundering monitoring system.
When information such as the FIC report is released,an investor’s first reaction is to assess whether their money could be caught up in some of the channels they have invested such as the commercial banks. As such, information released by FIC gets monitored by investors as well. Mr. Kanyama said investors have a right to know what is going on in a country in which they have invested, whether good or bad and make decisions based on the available information.
Mr. Kanyama has also advised the government that if they have issues with the center, it is important to engage FIC indoors and not publicly.
Editors Note: Mr.Kanyama’s comments to QFM were taken out of context and have been corrected.Our sincere apologies for any inconvenience caused.