MBABANE:Enerst Mkhonta, the Managing Director of the State owned Eswatini Electricity Company(EEC) who together with the Management, allegedly colluded with former Commercial Services Manager Peter Mgcini Shongwe to steal over R200million workers’ pensions has threatened legal action after being exposed by this Swaziland News.
The EEC Managing Director was investigated and subsequently exposed by this publication to have allegedly colluded with Peter Mgcini Shongwe in allegedly ‘laundering’ pensions belonging to the late EEC workers to Likhwane Beneficiary Fund without the consent of the widows and orphans among others, being beneficiaries of the monies.
In fact, the beneficiaries told this publication that, the EEC Management transferred the millions against their will, Likhwane subsequently collapsed “amid rampant corruption and/or looting” by the alleged organized corporate syndicate involving the EEC Management.
It has been reported that, in the well syndicated corruption, Peter Mgcini Shongwe, the then ECC Commercial Manager resigned, subsequently established Likhwane and soon thereafter, Managing Director Enerst Mkhonta and the EEC Management transferred over R200million pension monies belonging to the late workers.
But the alleged looting of the monies subsequently triggered an investigation by the Financial Services Regulatory Authority(FSRA), the regulator discovered rampant corruption and took action against Likhwane.
It has been disclosed that, Mkhonta and other alleged corrupt members of the EEC Management used Likhwane as a conduit to steal part of the R200million and that, they were receiving “kickback” or bribes to transfer the workers’ monies to Likhwane, this resulted to hundreds of orphans and widows living in poverty.
But in a press statement released this week and subsequent to an article published by this Swaziland News, the EEC Managing Director through the company’s Spokesperson Khaya Mavuso vigorously denied stealing the public funds and expressed sympathy for the orphans and widows.
“The EEC sympathizes with the widows and orphans, and other beneficiaries affected by the collapse of Likhwane Beneficiary Fund”, said the Managing Director through the company’s Spokesperson.
The EEC Managing Director went on to threaten legal action saying “the State owned company reserves its right to take all necessary legal steps to protect” its reputation.
“The EEC reserves its right to take all necessary legal steps to protect its reputation, its employees and its stakeholders against defamatory, false, or misleading statements. The Company will not hesitate to pursue appropriate remedies under the law where its integrity and public trust are unjustly attacked”, he said.
But the statement did not specify how the State owned energy company will compensate the widows and orphans whose monies were allegedly transferred to Likhwane against their will and subsequently looted, instead the Managing Director said the Electricity Company was trying to maximize benefits for the orphans and widows.
“The decision to invest with Likhwane was made in line with industry practices and with the intention of maximizing benefits for dependents,” he said.
But hundreds of widows, orphans and other beneficiaries of the late EEC workers’ pensions are living in poverty, children are dropping out of schools after their parents’ monies were allegedly looted or stolen by the EEC Management.
On another note, this publication is intensifying investigation including conducting a lifestyle investigation on members of the EEC Management as others who were within the corporate chain of transferring the millions to Likhwane Beneficiary Fund reportedly built multimillion houses inside and outside the country.
Eswatini is facing rampant corruption within the Government and corporate sector, about 70% of the population lives below the poverty line amid corruption within the public administration.
Electricity Company Managing Director Enerst Mkhonta.