Combating Fraud Across Sectors

Capital Consulting Group Launches Inaugural Annual Fraud Risk Management Workshop in Lusaka, Uniting Government, Private Sector, and Professional Bodies to Enhance Oversight and Combat Fraud

By Francis Maingaila ♥️

Lusaka, Zambia24 – (27 November 2025) – Capital Consulting Group (CCG) has officially launched the country’s first-ever two-day Annual Fraud Risk Management Workshop, aimed at equipping organisations across all sectors—public and private—with the tools, knowledge, and strategies needed to combat fraud and strengthen oversight.

The workshop was officially opened by Mrs. Yande Mwenye, President of the Zambia Institute of Chartered Accountants (ZICA), who stressed that zero tolerance for corruption is no longer optional but a fundamental requirement for all organisations. 

She urged corporate leaders to embed anti-fraud practices into the core of their operations, noting that a culture where fraud is unacceptable begins with leadership.

“Management must foster a safe space for those who speak up, who challenge fraud. Eradicating fraud is not a fight against people—it’s a shield for your organization. We must always protect whistle-blowers and celebrate the vigilant,” Mrs. Mwenye said.

She further emphasised that every organisation must invest in anti-fraud mechanisms. Trainings, simulations, and dialogues—like those planned for the workshop—are critical for building resilient organisations. 

“This is not a checkbox exercise; it is about survival. An anti-fraud mechanism should be mandatory, not alternative. Compliance is baseline, vigilance is strength,” she said.

Mrs. Mwenye encouraged participants to actively engage, share experiences, and implement actionable strategies to safeguard both assets and trust. 

“In Zambia and beyond, as industries grow, risks evolve. We don’t just protect assets—we protect trust. Trust in business, in governance, in each other,” she said.

The ZICA President praised Capital Consulting Group for initiating the workshop, describing it as a “bold and much-needed step” that complements government efforts and strengthens the work of professional bodies.

 “Hosting an Annual Fraud Risk Masterclass is rare, admirable, and much-needed. You’re sparking a ripple—let’s grow it into a wave,” she added.

She also called on participants to share boldly, cross-pollinate ideas, and be pragmatic: 

“Leave here and implement. Turn knowledge into action. Engage deeply, debate fearlessly, act decisively. The cost of fraud is far greater than its prevention. Let’s make ‘no fraud’ a movement.”

Speaking at the event, Dr. Masiye Banda, Chief Executive Officer of CCG, described fraud as “a cancer” that spares no organisation or economy. 

He highlighted that fraud can erode company profits, distort fiscal statistics, and stifle service delivery.

“Fraud hides in plain sight. Often, organisations may be unaware of its existence simply because they lack the right skills to detect it,” Dr. Banda said. 

“No sector escapes fraud, whether healthcare, insurance, procurement, or public service. Engineers tweaking specifications, HR managing payroll, teachers grading scores, or the military and police securing assets—fraud affects all of us.”

Dr. Banda emphasized that combating fraud is not solely the responsibility of auditors or accountants but requires a collective effort involving government, parastatals, local authorities, private companies, and the military. 

“We must all be deliberate if we are going to significantly curtail white-collar crime,” he said.

The CEO outlined that the Master Class, spanning two days, is intended to foster the sharing of ideas, experiences, and actionable strategies rather than a one-way teaching approach. 

He also called on professional bodies and government to strengthen the Public Interest Disclosure Act, commonly known as the Whistle-blowers Act, to protect ethical employees from unfair dismissal and harassment.

Dr. Banda further highlighted CCG’s commitment to multi-stakeholder collaboration. 

“The fight against fraud must be multifaceted and cannot be left to government alone. That is why we are partnering with professional bodies, government, and other partners ready to fight this scourge fearlessly,” he said.

He acknowledged organisations that sponsored delegates for the Master Class, noting that such support demonstrates the shared responsibility in fighting fraud across government, parastatals, military, banks, hospitals, and private sector entities.

“Fraud thrives in shadows. Let us dismantle those shadows with transparency, checks, and curiosity. Internal auditors, finance officers, risk managers, human resource professionals, and lawyers—all of you are the front-line guardians. Equip yourselves,” Dr. Banda concluded.

The Master Class is expected to serve as an annual platform for enhancing skills and promoting ethical practices in fraud prevention across Zambia’s public and private sectors.