Investigate Paradise Paper-Actionaid Urges Local,Foreign Investigative Wings

 

Actionaid Zambia, Country Director Nalucha Nganga says in comparative terms there is no difference between those named in the Paradise papers and those that have misappropriated funds as disclosed in  the Auditor General’s report.

Ms Nganga  had a torrid time to explain whether it is wrong for Zambian business mogul Hakainde Hichilema like many other Zambians to invest their money in the London Stock Exchange for the purpose of using that avenue to reinvest the money in the country by creating viable businesses for economic growth.

Bad blood between the UPND media team and Actionaid ensued when it was reported that the latter is mounting strong campaigns against Hichilema for appearing in the paradise papers alongside Queen Elizabeth among other world leaders.

Asked whether it was wrong for Zambians to invest on the London Stock Exchange Market, Ms Nganga said there was nothing wrong.

Briefing the press, the Actionaid Country Director  said there was nothing wrong for corporates and high net worth individuals to put their money on the London Stock Exchange Market because there are companies like ZAMBEEF that have legally  done so.

Ms Nganga, however, said what is immoral is for the multinational corporations and high net worth individuals to invest offshore for the purpose of dodging tax.

“We are against investing offshore because high net worth individuals and corporates hide their money in these accounts  to dodge paying tax and the consequences are grave because the country can not generate money for the purpose of social security economic programmes such as health and education,” Ms Nganga said,” our concern is that stolen money is hidden in these accounts.”

She has since called on thorough investigations on individuals and corporates  whose names are appearing in the  Paradise paper.

Ms Nganga said there is no way that high net worth individuals and corporates can be given tax haven while the poor pay tax through their nose.

She said statistically, government generates more tax revenue from poor people than multinational firms.

“We can’t have two  different tax systems, one for the poor and the other one for the rich,” Ms Nalucha  said.