KOSRA has conducted an analysis of the Annual Financial Statements of Ndlambe for the years from 2019 to 2023 which has revealed that it is in financial difficulty and has consistently failed to exercise proper and strict management controls to eliminate fruitless & wasteful, unauthorised and irregular expenditure, as has been stated in the Audit Reports over this period.

Some of the findings include:

• It has written off and / or condoned R1,175,704,431 in fruitless & wasteful, unauthorised and irregular expenditure since 2019. An horrific figure and clear evidence of the failure to manage expenditure.
• It has lost some R331m in its segment businesses – being water, electricity, water & sanitation and waste removal – since 2021 to 2024 with seemingly little being done to arrest the slide to bankruptcy.

KOSRA has requested a meeting with the Auditor General’s Executive Director of Provincial Audit and/or its Eastern Cape executive(s) responsible for the audit to air our concerns and understand how the AG assesses Ndlambe and its management.

KOSRA well keep you updated on progress.