Popular Democratic Movement president McHenry Venaani has revisited his previous demand for August 26 Holdings to publicly open its audited financial statements.
Venaani on Wednesday posed questions to prime minister Elijah Ngurare.
“I have consistently advocated for transparency and accountability in the management of public funds. A significant concern has been the August 26 Holding Company, a state-owned enterprise under the Ministry of Defence and Veterans Affairs, which has not publicly released its audited financial statements since its establishment in 1998,” he said.
In a meeting with former president Nangolo Mbumba in July 2024, Venaani said, it was disclosed that although the Office of the Auditor-General had completed a forensic audit of August 26, the findings were still under review and had not been made public.
This delay in transparency, he said, raises concerns about the commitment to good governance, and the public’s right to access information on the utilisation of taxpayer funds.
He questioned what specific steps has the current administration taken to ensure the public release of August 26 Holding Company’s audited financial statements, and what is the anticipated timeline for their publication.
Considering that the forensic audit was completed and on Mbumba’s desk, Venaani demands a detailed explanation for the prolonged delay in making these findings accessible to the public.
Given the strategic importance of August 26 in Namibia’s defence sector, Venaani wants to know how the government plans to address any potential concerns that may arise from the audit findings to maintain public trust and confidence.
“Will the government consider extending the mandate of the auditor-general to include comprehensive oversight of all subsidiaries under August 26? To ensure thorough accountability across its entire operations?” Venaani questioned.
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