Misappropriation of R14m Pan-African Parliament Rental Funds Shakes NAFCOC’s Reputation


National Federated Chamber Of Commerce (Nafcoc) president Gilbert Mosena. Image: Suplied

In a shocking turn of events, two senior officials associated with Silver Vanity Investment (Pty) Ltd, an investment company of the National African Federated Chamber of Commerce and Industry (NAFCOC), have been implicated in a case involving the disappearance of R14 million in rental funds allocated to the Pan-African Parliament. The fallout from this alleged misappropriation threatens not only the reputation of NAFCOC but the stability of the Pan-African Parliament itself.

A general view of Gallagher Estate in Midrand.
Gallo Images/Papi Morake

The incident has sparked concerns over transparency, accountability, and governance within NAFCOC and its associated companies, raising questions about the organization’s ability to uphold high standards of financial oversight.

Of particular concern is the alleged involvement of Sekwame Gilbert Mosena, the acting president of NAFCOC. The implication of a senior official in such a serious financial impropriety not only tarnishes his personal reputation but also erodes the organization’s credibility in the eyes of its members, stakeholders, and the public at large.

The missing funds not only hinder the parliament’s ability to fulfill its mandate effectively but also cast doubt on its financial management practices. It is crucial for the relevant authorities to conduct a comprehensive investigation, ensuring that justice is served, and the misappropriated funds are recovered. Additionally, measures must be put in place to prevent similar incidents from occurring in the future, safeguarding the integrity of the Pan-African Parliament and its critical role in regional governance.



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