The ivory is thought to have been poached over a period of one to two years from around 16 elephants and is worth about USD 150,000.
The suspects' names were withheld but they were said to be a 52-year-old businesswoman from a Lusaka slum and a 37-year-old taxi driver from a farming area west of the city.
"The scam was a great loss of revenue for the country. Poaching of elephants for ivory has become a major concern, not only in Zambia, but Africa as a whole," she said, pointing to lost tourism dollars.
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