Lobamba – The Auditor General’s latest Compliance Audit Report has revealed that government lost more than E10 million through 12 income-generating projects that have failed to make profits for several years.
The projects were funded under the Regional Development Fund (RDF) and were intended to be commercially viable, create jobs, and contribute to community development. Instead, Auditor General Timothy Matsebula found they continue to make losses and are unable to break even, undermining the purpose of the RDF Regulations.
Among the non-performing initiatives are Eswatini Tinkhukhu Enterprise, Buhle Bensindatje Multipurpose, and Intamakuphila Yemaguga. Matsebula warned that taxpayers are not receiving value for money from such investments.
The audit further revealed that projects worth E78 million remain incomplete despite payments having been made to contractors. In addition, projects valued at E3.9 million were funded even though they did not meet qualification requirements.
Matsebula is currently briefing Members of the Public Accounts Committee at Happy Valley Hotel on his findings, ahead of public hearings scheduled to begin next week.
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