By Chisomo Phiri
The Human Rights Defenders Coalition (HRDC) Chairperson Gift Trapence has expressed grave concern over the alarming trend of alleged fraud and mismanagement within state parastatals.
In a statement, Trapence emphasizes that the situation highlights a disturbing failure by the institutions’ boards to perform their oversight functions effectively, compromising transparency, accountability, and prudent management of public resources.
“We are deeply troubled by the boards’ failure to uphold their mandate, leading to significant financial losses and erosion of public trust.
“It is imperative that they are held accountable for their inaction and that those who have demonstrated an inability to perform their duties are removed from their positions,”Trapence stresses.
His concern is prompted by audit reports revealing alleged multi-billion Kwacha fraud at the Electricity Generation Company (EGENCO) and Agriculture Development and Marketing Corporation (ADMARC).
According to the 2022 audit report, ADMARC incurred losses of K330 million due to alleged fraud and abuse, while EGENCO lost K6.7 billion due to alleged misprocurement between January 2017 and March 2022.
