Friday, February 23, 2024

Audit report on CEDA will not be made public

A damning forensic audit report on the Citizen Entrepreneurial Development Agency (CEDA), which has just been completed, will not be made public but the Minister of Commerce and Industry is expected to release the report to cabinet.

The report has already been described in some quarters as “rotten”.

Minister Dorcus Makgato-Malesu is expected to brief the Cabinet about the long awaited and just concluded forensic audit report that was conducted on CEDA late last year.

There are fears that the report is likely to trigger investigations.

Information passed to Sunday Standard suggests that the audit had to be suspended for almost two weeks due to differences between the concerned ministry and CEDA.

Reliable sources have told this paper that the forensic report uncovered questionable practices within the agency and these are most likely to lead to ‘heads rolling’.

There are allegations that the scandalous practices include some of the most senior managers having around five to seven different types of loans running concurrently.

These loans, it is alleged, are not from any commercial banks but CEDA.

This paper is informed that the Directorate on Corruption and Economic Crime (DCEC) has already begun investigations.

“The report is ready but I have to consult the Cabinet and other relevant stakeholders first,” said Makgato-Malesu in a brief interview with the Sunday Standard.

She said once she has done that she will then brief Parliament about the report.
“I am not in a position to discuss any details of the report before consulting the relevant authorities,” she said. “I cannot confirm or deny whether the report is rotten or not but the Ministry will act on the recommendations made in the report.”

Makgato-Malesu stated that if it so happens that there was any wrongdoing then the law will take its course.

However, she stated that the report will not be made public.


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