Katima Mulilo
An investigation regarding alleged financial impropriety that resulted in Kasika Conservancy in the eastern floodplains of the Zambezi Region incurring losses of N$300 000 has started. This was revealed to New Era by members of the conservancy who requested anonymity lest there are repurcussions from the suspects.
One member of the conservancy, which annually generates revenue of around N$1 million that benefits 1 200 people whose villages are dotted in and around the conservancy, revealed that the conservancy’s executive committee on Monday launched an investigation after it was discovered that about N$300 000 “went missing” from the counservancy’s bank account.
Among those suspected of embezzlement are its former senior employees who reluctantly resigned after the N$300 000 was found “missing” from its coffers.
New Era has the names of three of the main figures in the alleged fraud that has also been reported to the police though the suspects remain scot-free.
According to a source, the former senior employees are the main culprits and it is believed that two of them started raiding the conservancy’s coffers last October, almost bringing its operations to a grinding halt and leaving many villagers in limbo as it was their sole source of income.
Members of the conservancy are saying that three people are the main suspects because they are the only ones who held signatory powers for funds to be withdrawn from the conservancy’s bank account.
Members of the conservancy have also implicated a previous auditor for possible collusion because the money was only detected as missing after the executive committee of the conservancy enlisted the services of another auditor who unearthed the alleged embezzlement.
After suspicions of corruption and mismanagement came to light, the executive fired a secretary and proceeded to put pressure on the manager who was also the acting treasurer to provide them with the cheque book and a bank statement for the past months.
Conservancy members also accuse the finance manager of withdrawing N$92 000 from the account shortly after his resignation.
“The N$92 000 was withdrawn after the manager had resigned and there were three signatories who authorised the transaction,” revealed the source.
In one of the suspicious transactions N$80 000 and a separate amount of N$40 000 were withdrawn from the conservancy’s account last December.
Kasika Conservancy was gazetted as a conservancy in 2005, and it was established to alleviate poverty within the community by creating, among others, jobs for community members. Because of the suspected fraud, conservancy workers did not receive their salaries last month.
“Workers were not paid last month as there isn’t enough money in the account. Currently there’s only N$84 000 in the account, while previously the account had about N$900 000,” said a conservancy member.
The conservancy also used to financially support five disadvantaged students from the community who were furthering their studies at institutes of learning like the Southern Business School (SBS) and the Namibia College of Open Learning (Namcol).
However it is understood these students dropped out this year after they were told the conservancy could no longer support them financially. “Something went really bad this year, and the conservancy told them that they can no longer support them. All of them stopped and they are now just at home doing nothing,” a conservancy member narrated.
Although a case had been opened no arrests were made at the time of reporting and investigations were still underway.
The executive committee of the conservency is expected to meet tomorrow to discuss the matter.