Former First Lady, Thandiwe Banda is worth over K8 Billion, Tumfweko understands.
Thandiwe, had drastically acquired and owned major property ranging from houses, expensive vehicles, buildings and lodges.
Sources disclosed that the property which is in excess of K5 Billion is not even in Zambia but has been invested in neighboring countries mainly in Malawi.
The source disclosed that Thandiwe’s fast acquired her property within the three years her husband Rupiah Banda was republican President.
The source further disclosed that apparently, she bought a lavish and luxurious Hotel in Tanzania at $1.2 Million and in Lusaka, Mpundu Trust Flats in woodlands being part of the many properties she owns.
‘As you get in Chipata town, there is a nice Hotel being owned by Thandiwe. It is amazing how money pops up in a short while and own such huge property,” said the source.
Thandiwe, a teacher by profession, once played as a ‘ghost worker’ when she was still first lady.
In 2009, President Sata said he had in his possession Thandiwe’s pay-slip dated July 9, 2009.
“People are so upset about what is going on in Zambia, and this morning they wanted to embarrass the President more because they think you politicians are not doing enough. They sent me a pay slip for his wife [RB’s Wife, Thandiwe], who is still getting pay as a teacher. This came from Ministry of Education this morning,” Sata said.
“This pay slip is dated 9th July 2009, and this is Chipata District, Nyakutwa Middle Basic School, Nyakutuwa. And the beneficiary is madam Thandiwe Chilongo Banda. Now that is how people are frustrated.”
Some details on the pay slip indicated that Thandiwe was still considered an active full time employee and received a net salary of K1,541,892.74 for July, 2009. The employee No. is 11801 while the NRC No. 464544/52/1.