{"id":87348,"date":"2026-06-22T17:41:30","date_gmt":"2026-06-22T17:41:30","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu"},"modified":"2026-06-22T18:15:20","modified_gmt":"2026-06-22T18:15:20","slug":"we-have-e55-million-in-reserves-emcu","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu","title":{"rendered":"WE HAVE E55 MILLION IN RESERVES \u2013 EMCU"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The Eswatini Medical Christian University (EMCU) has strongly rejected allegations of financial mismanagement, governance failures and abuse of public funds, insisting that the institution has undergone a remarkable turnaround and is now financially stable with more than E55 million in reserves and investments.<\/b><\/p>\n

In a detailed public statement released by the University Council, EMCU said recent allegations circulating in the media and Parliament paint a misleading picture of the institution and fail to acknowledge the reforms implemented over the past six years.<\/p>\n

The university said it was compelled to respond after accusations emerged regarding the management of funds, governance disputes and an ongoing power struggle involving some former executives and external stakeholders.<\/p>\n

According to the Council, EMCU\u2019s history dates back to 2006\/07 when the Africa Continent Mission (ACM) proposed the establishment of a Christian university to train local professionals in medicine and engineering. The institution was formally incorporated as a Category A Public Enterprise in 2013, with the Government of Eswatini assuming fiduciary responsibility while ACM was expected to provide infrastructure and independent funding support.<\/p>\n

From E47 Million Deficit to E55 Million Reserves<\/b><\/p>\n

One of the central arguments advanced by EMCU is that the institution inherited severe financial challenges before the current administration took over.<\/p>\n

The Council revealed that between 2013 and early 2020, the university accumulated a deficit of approximately E47 million, struggled to pay salaries and operated without a substantive bursar for several years.<\/p>\n

It further alleged that government subventions amounting to more than E36 million were diverted and misused during that period, forcing authorities to initiate legal processes aimed at recovering public funds.<\/p>\n

However, the university says a major turnaround began in April 2020 following intervention by Parliament and the Ministry of Education and Training.<\/p>\n

Since then, EMCU claims it has strengthened internal controls, recovered funds owed to the institution and accumulated reserves exceeding E55 million, effectively transforming itself from a financially distressed entity into a stable institution.<\/p>\n

Battle Over University Funds<\/b><\/p>\n

The university alleges that the current dispute is largely driven by attempts by certain individuals to gain access to these reserves.<\/p>\n

According to the statement, ACM had committed itself under a Memorandum of Agreement to mobilise substantial resources for the university, including funding towards the establishment of a medical school.<\/p>\n

However, EMCU claims these commitments were never fulfilled.<\/p>\n

The Council stated that despite promises to contribute up to E200 million, no operational funding was received from ACM, with the institution instead relying on government support.<\/p>\n

EMCU further alleged that several attempts were made to access the university\u2019s reserves through proposals that included the purchase of a farm valued at E10 million using public funds.<\/p>\n

University management said such proposals were rejected because they violated the Memorandum of Agreement governing the institution.<\/p>\n

Vice Chancellor Dispute Intensifies<\/b><\/p>\n

Another major point of contention relates to the position of outgoing Vice Chancellor Professor Paul Yang.<\/p>\n

EMCU claims Prof Yang formally resigned in September 2025 after unsuccessfully seeking access to E10 million from the university\u2019s reserves for rehabilitation projects.<\/p>\n

The university says his resignation was accepted and that his employment contract ended in March 2026 following the expiry of the required notice period.<\/p>\n

However, the Council alleges that despite the expiry of his contract and payment of all benefits due to him, Prof Yang has refused to vacate office and has instead challenged the matter through the courts.<\/p>\n

The institution further accused him of attempting to exercise authority over university bank accounts after his contract had ended.<\/p>\n

Concern Over Parallel Investigations<\/b><\/p>\n

The university also expressed concern over what it described as overlapping investigations into the same issues.<\/p>\n

While acknowledging the authority of government to scrutinise public institutions, EMCU questioned the decision to run multiple investigations simultaneously.<\/p>\n

The Council pointed to an ongoing Parliamentary Select Committee investigation, an Auditor General\u2019s audit and a Commission of Inquiry established by the Prime Minister.<\/p>\n

According to EMCU, the simultaneous probes risk creating unnecessary duplication and placing additional strain on university operations.<\/p>\n

The institution also raised concerns about possible conflicts of interest involving some individuals participating in the investigations, arguing that their prior involvement with EMCU could compromise perceptions of impartiality.<\/p>\n

Commitment to Transparency<\/b><\/p>\n

Despite the ongoing disputes, EMCU says it remains committed to transparency and accountability.<\/p>\n

The Council maintains that the university\u2019s financial records, governance decisions and reforms can withstand scrutiny and insists that the institution\u2019s progress should not be overshadowed by what it describes as politically and financially motivated attacks.<\/p>\n

\u201cOur priority remains protecting public funds, safeguarding the university\u2019s assets and ensuring a stable academic environment for students and staff,\u201d the statement said.<\/p>\n

As investigations continue, EMCU\u2019s response has added a new dimension to a controversy that has attracted national attention, setting the stage for what could become one of the most closely watched governance battles in Eswatini\u2019s higher education sector.<\/p>\n

The outcome of the various investigations is expected to determine whether the allegations levelled against the institution have merit or whether the university\u2019s leadership has indeed overseen one of the most significant financial turnarounds in the country\u2019s tertiary education history.<\/p>\n

For More News And Analysis About Eswatini<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The Eswatini Medical Christian University (EMCU) has strongly rejected allegations of financial mismanagement, governance failures and abuse of public funds, insisting that the institution has undergone a remarkable turnaround and is now financially stable with more than E55 million in reserves and investments. In a detailed public statement released by the University […]<\/p>\n","protected":false},"author":84,"featured_media":87347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[249],"class_list":["post-87348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-eswatini"],"yoast_head":"\nWE HAVE E55 MILLION IN RESERVES \u2013 EMCU - Eswatini<\/title>\n<meta name=\"description\" content=\"The Eswatini Medical Christian University (EMCU) has strongly rejected allegations of financial mismanagement, govern ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WE HAVE E55 MILLION IN RESERVES \u2013 EMCU\" \/>\n<meta property=\"og:description\" content=\"The Eswatini Medical Christian University (EMCU) has strongly rejected allegations of financial mismanagement, govern ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-22T17:41:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-22T18:15:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2026\/06\/sm_1782139473.978499.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"WE HAVE E55 MILLION IN RESERVES \u2013 EMCU\",\"datePublished\":\"2026-06-22T17:41:30+00:00\",\"dateModified\":\"2026-06-22T18:15:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu\"},\"wordCount\":861,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2026\/06\/sm_1782139473.978499.jpg\",\"keywords\":[\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/we-have-e55-million-in-reserves-emcu\",\"name\":\"WE HAVE E55 MILLION IN RESERVES \u2013 EMCU - 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