Africa-Press – Namibia. Popular Democratic Movement lawmaker Winnie Moongo says the lack of a financial reporting framework and performance targets in the Education Development Fund betrays learners for whom the fund was developed to serve.
Despite repeated warnings, Moongo, in Parliament on Thursday, said the ministry of education fails to implement these mechanisms, leaving the fund floating with shrinking reserves, inflating unexplained expenses, and no measurable outcomes.
Based on the 2024 audit report of the auditor general on the Education Development Fund, this paints a deeply troubling picture, she said.
“For yet another year, the fund has received an adverse audit opinion, confirming that its financial statements cannot be trusted to present a true and fair account of public resources,” she said.
The fund falls under the ministry of Education, Innovation, Youth, Sports, Arts and Culture under the education arm.
During 2024, the same issue was raised, the fund lacked an acceptable financial reporting framework.
Management indicated they are working on adopting International Public Sector Accounting Standards.
“No implementation has happened so far,” the audit reads.
In addition, Moongo questioned what corrective actions are being taken to restore credibility and compliance in the fund.
According to the report, the fund’s revenue has dropped from N$70,334 in 2023 to only N$20 470 in 2024, while expenses reached N$746 735, resulting in a deficit of N$726 265.
The concerned Moongo asked the minister to explain the reasons for this sharp decline and the sustainability plan going forward.
Education minister Sanet Steenkamp is expected to respond this coming Thursday in Parliament.
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