Zambia’s Foreign Minister, Stanley Kakubo, has stepped down from his position following allegations that he was captured on video receiving a stack of cash from a Chinese businessman.
While not denying his presence in the video, Mr. Kakubo cited “malicious claims over a business transaction” as the reason for his resignation, emphasizing the need to prevent government distraction amid controversy.
The video shows two individuals counting neatly stacked cash in both US dollars and Zambian kwacha, sparking speculation on social media about Mr. Kakubo’s involvement. Concerns were raised regarding the absence of a bank transfer and questions about tax payments related to the transaction.
Images of unverified handwritten notes mentioning the exchange of $100,000 between a Zambian and a Chinese mining company, dated July 8, 2022, further circulated on social media.
In his resignation letter, Mr. Kakubo did not dispute the video’s authenticity but claimed victimhood to “malicious claims over a business transaction” involving his private family business and a business partner.
Mr. Kakubo, who will continue as a Member of Parliament, expressed the intention to provide accurate context around the recent developments in due course.
Zambian President Hakainde Hichilema accepted the resignation, acknowledging Mr. Kakubo’s past contributions. This marks the second controversy involving Mr. Kakubo, with a previous bribery accusation dismissed as receiving a calendar and diary from a Chinese-owned cement company.
Chinese companies are significant investors in Zambia, with over 600 businesses investing more than $3 billion, as reported by the Chinese embassy in 2022. Mr. Kakubo’s resignation comes amid President Hichilema’s commitment to combat corruption, while the opposition calls for an investigation into the former minister.