Audit suspends top CEDA executive
Pauline Dikuelo | Monday October 27, 2025 11:59
According to information reaching Mmegi, the internal audit, initiated in alignment with the nationwide probe led by Dubai-based consultancy firm Alvarez & Marsal (A&M), uncovered issues that prompted the agency to take swift administrative action pending further investigations.
Sources close to the matter indicated that the decision to suspend the executive was taken to ensure transparency and accountability during the ongoing inquiries.
Authoritative sources told Mmegi that the suspended official, who was a member of the executive committee, is accused of improper acts that allegedly occurred under his supervision.
“The internal audit was conducted as part of the national one done by Alvarez & Marcell. They told the organisation that they are investigating some allegations of corruption which prompted CEDA to conduct an internal one that led to the suspension of the director. “Whether he is personally implicated or the corruption took place under his watch, remains to be established,” an authoritative insider told Mmegi.
Efforts to reach CEDA management for official comment were not successful by the time of going to Press.
The latest developments add to a growing list of senior management shake-up within CEDA. Earlier this year, Chief Executive Officer Thabo Thamane was suspended to allow the forensic audit to proceed without the alleged interference. Following his suspension, the government also dissolved the CEDA board as part of what was described as a wider “turnaround strategy” aimed at reforming governance and financial management across key state-owned entities.
The national forensic audit, launched in March by the government is being carried out by Alvarez & Marsal with the objective of identifying, assessing, and mitigating corruption and fraud risks across ministries, parastatals, and oversight bodies. The exercise covers a ten-year period between 2014 and 2024, a timeframe that government believes holds critical insights into financial mismanagement and irregularities within public institutions.
Now in its second phase, the audit involves a detailed review of 30 entities red-flagged for deeper inspection. In August, A&M launched a public tip-off campaign encouraging citizens to submit information that could assist in uncovering potential misconduct. Phase one of the audit concluded in early August, and the entire process is expected to be completed by February next year.