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Zambian leader's assets value doubles in just 16 months - report

10 June 2016, 13:15

Lusaka – In just less than two years in power, Zambian President Edgar Lungu's assets value has more than doubled from K10.9 million in December 2014 to K23.7 million (2.2 million) this year.

According to Zambian Eye, Lungu's total assets value was revealed while he was filing papers for the upcoming presidential elections in August.

Local media reports indicated that Lungu's net worth increased by at least 100% after becoming president.

Lungu was elected president in January last year after the death of Michael Sata in 2014.

His rival from the opposition United Party for National Development (UPND) Hakainde Hichilema tops the list with $6.7 million (K73.16 million) followed by his running mate Geoffrey Bwalya Mwamba at just under $3 million (K31.8 million).

Following the declaration of presidential hopefuls' assets, angry Zambians took to social media to express their frustration over the exponential growth of Lungu’s earnings in just 16 months after assuming the presidency.

Social Media response

In 2015, Edgar Lungu declared his net-worth at 2.5 million. Becomes President, a year later he is worth 23.7 million. Only in Zambia.

— Hlazo Mkandawire (@hlazotj) June 7, 2016

Let me simplify this: For 58-years Edgar Lungu built a net-worth of 2.5 million. Just one year as President he has bagged 21.2 million.

— Hlazo Mkandawire (@hlazotj) June 7, 2016

Edgar Lungu has gone from having less than k10,000 in his bank account to k23,000,000 in the space of 17 months. Such a hard worker #corrupt

— Choolwe (@FirstZambian) June 7, 2016

If you Give Edgar Lungu another 5 yrs, he will be the richest president in Africa followed by ubaba Jacob Zuma. #ZambiaDecides

— IG: AdvBarryRoux (@Barry_Roux) June 8, 2016

- News24


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