Erasmus Shalihaxwe
McHenry Venaani, the leader of the official opposition, has called on the presidency to provide clear reasons for August 26 Holdings (Pty) Ltd’s continued failure to submit its audited financial reports.
Despite multiple requests and even interventions from the Ombudsman, the company has yet to comply.
Speaking in Parliament on Wednesday, Venaani, president of the Popular Democratic Movement (PDM), directed his questions to Christine Hoebes, the minister in the presidency.
“During a meeting in July of this year with President Nangolo Mbumba, he disclosed to my delegation and me that although he has received the reports, his office has not yet had the opportunity to thoroughly review the financial documents assigned to the Auditor-General by the late President Geingob in 2021,” he said.
He highlighted that since its establishment in 1998, August 26 Holdings has never presented its audited financial statements to the National Assembly, as required by law.
This lack of transparency, according to Venaani, has left the public in the dark about how the company manages the public funds it receives annually.
Venaani also informed Parliament that on April 24, 2024, he wrote to Anti-Corruption Commission (ACC) Director-General Paulus Noa, urging an investigation into the company’s financial conduct and questioning why its records remain confidential under the Office of the Auditor-General.
“The auditor-general’s office reportedly received no further directives regarding the report from the presidency,” said Venaani.
Venaani has called on Vice President Nangolo Mbumba to publicly explain the reasons behind the delay in completing the financial review and what immediate steps are being taken to address the issue.
He is also urging the presidency to outline the actions being implemented to ensure that the audited financial reports and Anti-Corruption Commission (ACC) findings are released without further delay.
“What is the expected timeline for the release, and how will the presidency ensure that such delays are avoided in the future? What directives or actions have been taken by the presidency following the receipt of the ACC findings, and why has there been a lack of follow-through? Furthermore, how does the presidency plan to address the consequences of the delayed publication of these financial reports and the subsequent lack of parliamentary oversight?” Venaani asked.
