Prominent Economist Chibamba Kanyama has revealed that there about 9,000 Zambians holding offshore accounts.

Mr Kanyama who is also a former official of the International Monetary Fund disclosed that the majority of these Zambians are serving in government.

He said he knows this for a fact because he personally introduced some of these Zambians to investment companies that specializes in offshore accounts.

Mr. Kanyama said the country already has companies such as deVere that handle offshore accounts.

“We have about 9000 Zambians with offshore accounts. Apparently, the majority are serving in government. I know this for a fact because I introduced them to some of the investment companies specializing in offshore accounts,” Mr Kanyama wrote on Facebook.

Mr Kanyama said he is horribly shocked at the noise that some people have created about offshore accounts when it’s the practice everywhere.

“We have tax allowances also to many foreign companies since 1994. After expiration, they closed and came with another name. You can invest offshore, earn your income, bring it back and reinvest in property,” he said.

He added, “I dealt with Mombasa Port Authority who once invested workers pension funds in Zambia and the Kenyans never protested.”

He said, “Taxes are a competitive platform globally. Mauritius is way ahead of Zambia due to these tax havens. We have many Zambian companies registered in Mauritius for this very reason. I am helping a Zambian owned company register in Mauritius. The very reason we have export processing zones is to attract foreign investors to manufacture here and never pay duty so long what they produce is for export.

He continued, “we flock to order things from Dubai by taking advantage of tax havens the country offers.”

Mr Kanyama noted that the only issue about tax havens is that many government crooks use it to steal money from citizens and hide the funds in these anonymous accounts, some of the beneficiaries are middlemen.


  1. Mr Kanyama .You have articulated this issue so well .Unfortunately we these kaponyas who don’t read. I thought that those that are attacking HH should have been talking about the report from AG where collosalsum of Tax payer’s money has been embezzled. It not worth paying Tax in this country .

  2. That’s exactly what I tried to explain to our shallow minded Zambia is a tax heaven for the Chinese people.and no one is protesting. Dummies

  3. Mr Chibamba kanyama you have done extremely well to explain to these bunch of idiots what it is to invest in a foreign country. Am extremely shocked at the level of ignorance and dullness by these fools who call themselves as leaders. surely does it become a crime if someone invests in another country. For those Chinese and other nationals who have invested in Zambia are they being harassed by their govt for investing offshore as the case is with HH? what a bunch of retarded criminals please stop embarrassing us its just too much.


Please enter your comment!
Please enter your name here