High Court lifts restrictions on Mphundu Property

Restrictions imposed on Mphundu Trust Property owned by former First Lady Thandiwe Banda by the Anti-Corruption Commission (ACC) was yesterday removed by the Lusaka High Court.

 Judge Dominic Sichinga who heard the matter ruled that the ACC was wrong to impose a ban on Mpundu Trust Housing complex situated in Woodlands, on Leopards Hill road.

With this ruling Mrs Banda is now free to lease out 15 flats at the property and has been directed to send copies of would-be tenants to the ACC.

Judge Sichinga further ruled that all rental proceeds from the property will be deposited in Mphundu Trust Account held at Access Bank main branch to be exclusively channelled towards the amortisation of the loan facility owed by Mrs Banda.

The High Court has further allowed Mrs Banda to complete the project while the ACC continues with its investigations into the property.

The former first lady  sued the ACC in her capacity as director of the project and asked the court to award her damages for the loss of time on the project claiming she was the lawful owner of the property at Stand Number 1F/488A/29A, Leopards Hill Road.

Mrs Banda explained that she applied for a loan from Access Bank Zambia of up to US$600,000 to finish the construction of the 12 residential properties.

She told the court that on April 9, 2009 Access Bank offered her the loan and on February 16, 2011 she again applied to the bank asking for a further loan of up to $1 million for completion of the construction of the property.

Access Bank Zambia Limited also joined Ms Banda in suing ACC saying it had an interest in the matter.

Her huaband, the former republican president Rupiah Banda is facing charges of corruption over the same property.

But Mrs Banda said Mpundu Trust was established in 2009 to look after the interests of her twins and their future education and health needs.

One thought on “High Court lifts restrictions on Mphundu Property

  1. It is sad that this time it is an offence to obtain a loan from the bank for whatever project one wnat to undertake.

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