A court in Lusaka jailed him for five years with hard labour in connection with irregular payments of $25m (£17m) to two American security firms.
The offences were committed during the 1991-2001 presidency of Frederick Chiluba.
Mr Chiluba himself was acquitted of corruption charges in 2009 after a six-year trial.
On Wednesday, six other people, including former officials in the finance ministry, were also found guilty of corruption.
Mr Kalumba and his co-defendents had denied the charges against them.
It was not immediately clear if they planned to appeal.
Source: BBC
(Visited 1 times, 1 visits today)