MISAPPROPRIATION OF FUNDS ALLEGATIONS AT ECA

 MBABANE – Serious allegations of misappropriation of funds have rocked the Eswatini Contractors Association (ECA).

The allegations which cannot be repeated for ethical reasons were to the extent that general membership has unanimously voted for a forensic probe to be instituted with immediate effect to get to the bottom of the matter.

The decision to investigate and verify the allegation was taken during an Annual General Meeting (AGM) convened at The George Hotel yesterday.
Chairman Reuben Msibi mentione the names of certain members who are known to this publication but will not be named because the veracity of the allegations are yet to be determined.

Msibi mentioned that the association had been ripped off to the extent that it was currently struggling financially.

Unaccounted

“Some of the transactions are unaccounted for to the extent that there is not a single document to support what led to the money being issued out,” Msibi revealed, as the over 100 attendees mumbled and shook their heads in utter shock.

As Msibi continued to disclose more anomalies that had been uncovered at the association, one of the members shouted that all the people who were involved in the acts which caused harm to the organisation should face the full wrath of the law.

    
The chairman, however, promised that they were working tirelessly to ensure that the association continued to meet its objectives despite being financially challenged.

On a positive note, the chairman disclosed to membership that plans were well underway to establish a fund to be called Khongotela which would provide access to finance for all members.
He said at the moment they were finalising operational logistics which would include how much should be paid by members, how funding would be accessed and benchmarking with other associations that have funds.

Msibi also alluded to the tough conditions faced by contractors which have been caused by the lack of activity within the construction industry.
Msibi said this had been as a result of different factors, at the forefront being the economic challenges faced by the kingdom.

Witnessed

Msibi said they had all witnessed the fiscal challenges that government was faced with.
He mentioned that most contractors who relied on government work were going through tremendous challenges of trying to keep businesses afloat.
Msibi said even those that were not directly doing government work, had been affected in one way or another. He said this was because the economy of the country was heavily reliant on government expenditure.

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