DEC seizes Handa accounts over $ 670,000 cash

DEC seizes Handa accounts over $ 670,000 cash

By Mast Report

THE Drug Enforcement Commission (DEC) has seized two bank accounts holding over US$670,000  belonging to Handa Resources Ltd, majority-owned by Anglo American Exploration.

According to notices of seizure dated July 23, 2025 availed to The Mast, DEC has frozen account number 62913106036 with a balance of K869, 297. 50 and account number 62913106094 worth US$641,741.33 both held at the First National Bank (FNB).

“You are hereby notified that the goods described below have been seized in terms of Section 15 of Prohibition and Prevention of Money Laundering Act No. 14 of 2001 as there are reasonable grounds for believing that they are liable to seizure,” the notices of seizure read in part.

Last week, the Kitwe High Court placed Handa Resources Limited into receivership following a debt claim by Zambia Mineral Exchange Corporation Limited.

According to an ex-Parte order dated July 14, 2025, the court invoked sections 4 and 12 of the Corporate and Insolvency Act and the appointed receiver has assumed control of Handa’s assets pending debt recovery.