Lusaka, Zambia — May 13, 2026
A senior executive at ZANACO Bank in Zambia has been suspended after multiple allegations of sexual exploitation emerged. The 39-year-old, identified as Mutale Winfridah, is accused of engaging in sexual relations with over 200 men, including both clients and job seekers, in exchange for promises of employment and loan approvals.
Winfridah, who served as a branch senior executive, allegedly used her position of power within the bank to manipulate men into sexual encounters after offering them potential job opportunities at the bank or approval for their loan applications. The suspension followed formal complaints lodged by more than 10 men who came forward with accusations of exploitation.
In a statement, ZANACO Bank confirmed Winfridah’s suspension, emphasizing that the allegations were under investigation, and they were taking the matter very seriously. The bank stated that it adheres to strict ethical standards and would take appropriate action once the investigation is complete.
The complaints allege that Winfridah leveraged her influential role in the bank to manipulate vulnerable individuals seeking jobs and financial assistance. Sources say the men were promised job placements at the bank or financial support in exchange for sexual favors.
While Winfridah has not yet publicly commented on the allegations, sources close to her have stated that she has not been married, citing her desire to focus on academic qualifications before entering into a relationship.
Local authorities have begun investigating the claims, with some speculating that the number of victims may be higher than the reported figures. Authorities are urging anyone else who may have been affected to come forward as part of the ongoing probe.
ZANACO Bank, one of Zambia’s leading financial institutions, has not provided further details on the suspension, but the incident is raising serious questions about the role of power and influence in the workplace.
This case highlights the continuing importance of ethical behavior and accountability in the workplace. Sexual exploitation and abuse of power are serious offenses, and as investigations continue, many are closely watching the steps ZANACO Bank and local authorities will take to ensure justice is served.
Credit: GFIcon
