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The Zambia Revenue Authority has reaffirmed its commitment to strengthening the country’s framework against illicit financial flows (IFF), citing recent policy and institutional milestones.
Speaking at the Anti-Illicit Financial Flows Policy Tracker Assessment Workshop in Lusaka on Tuesday, ZRA Commissioner General, Dingani Banda, noted that Zambia had made significant strides in closing gaps exploited by illicit financial flows.
Banda said the fight against illicit financial flows was central to safeguarding domestic resources needed for national development.
He identified IFFs as one of the greatest threats to domestic resource mobilisation, economic growth, governance, and sustainable development across Africa.
“Over the years, Zambia has uncovered an alarming trend in IFFs. In this regard, the Financial Intelligence Centre reported suspected IFFs worth over USD 5 billion between 2023 and 2024,” Banda stated.
He said this figure highlights the magnitude and urgency of the challenge and reinforces the need for coordinated, evidence-based, and sustained interventions.
Banda stated that despite the scale of the problem, Zambia had continued to make progress in strengthening its anti-IFF framework.
He cited among the milestones recorded Zambia joining the Global Forum on Transparency and Exchange of Information for Tax Purposes in 2024 to enhance international cooperation against cross-border tax evasion.
“This process will, among others, result in the identification of national vulnerabilities to IFFs across key sectors, generate practical and context-specific policy recommendations, strengthen coordination among institutions, and contribute significantly to the broader continental strategy,” Banda said.
He also pointed to domestic reforms introduced in 2025 and 2026 aimed at tightening compliance and improving enforcement which included the introduction of Advance Income Tax on remittances without a tax clearance certificate and the empowerment of ZRA to freeze bank accounts in circumstances permitted by law.
Banda said the enhancements within PACRA relating to beneficial ownership transparency are critical in addressing secrecy and improving accountability.
“These milestones demonstrate Zambia’s commitment to strengthening governance systems, improving transparency, and safeguarding domestic resources for national development,” he stated.
Banda stressed that sustaining momentum required strong political will, effective institutions, reliable data systems, regional cooperation, and continuous stakeholder engagement.
He urged institutions to continue working collaboratively and to remain committed to implementing recommendations from the pilot process.
Banda expressed hope that the outcomes of the engagement would strengthen Zambia’s capacity to combat illicit financial flows and contribute meaningfully to Africa’s broader agenda of promoting transparency, accountability, and sustainable development.
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