Claim
On 12 May 2023, former Zambian Ambassador to Ethiopia and Permanent Representative to the African Union, Amb. Emmanuel Mwamba, published an article on his official Facebook page asserting that the fund management of the Kwacha Pension Trust Fund, a single employer pension trust that manages pensions on behalf of former and current employees of the Bank of Zambia, has been taken to African Life Financial Services (ALFS), a financial institution Amb. Mwamba alleges is associated with President Hakainde Hichilema.
Rating Justification
iVerify Zambia has determined as misleading the assertion by former Zambian Ambassador to Ethiopia and Permanent Representative to the African Union, Amb. Emmanuel Mwamba, that the fund management of the Kwacha Pension Trust Fund has been taken to Africa Life Financial Services (ALFS), an institution Amb. Mwamba alleges is associated with President Hakainde Hichilema. In a statement issued by Kwacha Pension Trust Fund Chief Executive Officer , Mr. Nchimunya Monde and accessed by iVerify Zambia, the Fund has refuted Amb. Mwamba’s claim. Mr. Monde clarified that contrary to Amb. Mwamba’s assertion, ALFS Limited was only engaged to offer property management services for three properties belonging to the pension fund after being selected as the preferred bidder to provide the said services.
