Africa-Press – Eswatini. The preliminary forensic audit report by the Central Bank of Eswatini (CBE) into the looting of E340 million of investors’ money with Ecsponent Eswatini Limited is expected before the end of the year.
ESW Investment Group (ESWIG) Chief Executive Officer Bonginkosi Max Mkhonza in the end of year communication to all investors, said they were doing their utmost best to recover the hard earned investments of the 1 338 investors.
The statement was co-signed by the Investor Relations Committee (IRC) Chairperson Norman Richard Dlamini, Conveners Billie Dlamini Sydney Kunene, ESWIG
Mkhonza said the company was thankful for the support it received throughout this year adding that they welcomed the investors’ enquiries, opinions and inputs while they try to recover the investments.
In November the Central Bank announced the appointment of South Africa’s Cliff Dekker Hofmeyer (CDH) to do the forensic audit.
The investigators lodged investigations to get to the bottom of the mismanagement and theft of the E340 million investments and interviews with the relevant stakeholders had been done.
“The IRC [Investor Relations Committee] was engaged November 17 to provide information for the audit. Information on all the 1 138 Investors i.e. date of investment, dividends paid (if any), value of investments to date, contract documents and other required pieces of information were obtained from the ESWIG Office.”
In August ESWIG successfully obtained an order against Dave van Niekerk and Edwin Soonius and said they were the ‘alleged architects and ultimate beneficiaries of the misappropriated funds.’
The order was for the duo to remain in the country while civil and criminal charges were preferred against them.
However, the order could not be effected as they left the country before they could be served.
ESWIG also instituted additional legal action on them and this is a continuing process, Mkhonza said.
The IRC said the ESW board and management was showing transparency, accountability and professionalism while ensuring that there is a positive outcome.
“We appeal to the investors to note that most of the Board and Management in the various Companies under ESW Investment Group (ESWIG) joined after the monies were lost.
Working together with the IRC, these patriotic Emaswati have collectively staked their reputation and integrity to ensure that the Investors recover their lost investments and that those responsible are held accountable,” Mkhonza said adding that it was necessary that all the ESWIG stakeholders support these efforts.
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