Home News NC economic development agency offers SIU ‘full co-operation’

NC economic development agency offers SIU ‘full co-operation’

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The Northern Cape Economic Development Agency has offered its full co-operation to the Special Investigating Unit, which will probe allegations of corruption and maladministration at the entity.

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THE NORTHERN Cape Economic Development Agency (NCEDA) has offered its full co-operation to the Special Investigating Unit (SIU), which will probe allegations of corruption and maladministration at the entity.

The acting CEO of NCEDA, Hendrik Louw, said the agency is well governed and they will remain focused on their mandate of promoting integrity and accountability within the organisation while the SIU is busy concluding its investigation.

“We will continue to co-operate fully with the SIU and any other relevant authorities throughout this process. We reiterate our commitment to upholding the highest standards of ethical conduct and transparency in all our dealings.”

Louw also committed to taking the necessary steps to address any shortcomings.

“Any findings arising from these investigations will be thoroughly reviewed. We remain steadfast in our dedication to serving the public interest and ensuring the responsible use of public funds.”

He pointed out that in 2002 the institution was an Industrial Development Corporation entity that was focused on socio-economic development projects.

“It was initiated as a Public Finance Management Act (PFMA) section 3C entity in 2010.”

Louw stated that it required a term of “trial and error” from 2010 to 2019 .

“During this time, a new broader mandate was established that adhered to strict Public Finance Management Act systems and policies.

“As from 2020, NCEDA was able to stabilise the institution in terms of governance, systems and policies and turned into a high-performance institution.

“In order to advance the realisation of the Namakwa special economic zone (SEZ), Boegoeberg harbour, proposed Boegoeberg SEZ, Upington Industrial Park and hosting several macro private sector investments, a review of 2012 to 2020 was submitted to an irregular investigation committee.”

Louw added that a detailed report and action plan was submitted and implemented.

“Since this report, as per the PFMA, all irregular, fruitless and wasteful expenditure was reported to provincial Treasury every year. NCEDA is annually audited by the Auditor-General of South Africa and has for the past few years received unqualified audit opinions.”

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