Botswana Oil pre-empts corruption possibility

Mbo
Mbo

A top officer at Directorate on Corruption and Economic Crime (DCEC) has revealed that 45 percent of their intelligence comes from anonymous sources.

The deputy director general –operations at DCEC, Gaofenngwe Wasetso yesterday said this at Gaborone International Convention Centre (GICC) during the launch of the Botswana Oil Limited (BOL) tip off anonymous programme.

“Let me point out that research has shown that 40% of fraud and corruption is detected from tip offs and anonymous facilities. In fact according to DCEC records, an average of its information is from anonymous sources. This therefore further indicates the relevance of the initiative we are launching today,” Wasetso said.

He said the programme would promote zero tolerance against corruption.


Wasetso said by launching the programme, BOL shows that it had taken a principled stand for good governance, a key factor against corruption.

A senior officer for Deloitte and Torche, Albert Einstein which has also joined hands with BOL for fighting crime said approximately five percent of turnover is lost to fraud and unethical practice.

He said 10 percent of fraud cases are also discovered and disclosed.

Eistein further revealed that internal audit is already stretched for resources.

Meanwhile, the BOL member Mbako Mbo said BOL tips offs programme mission is to assist the board of directors in discharging its corporate governance responsibilities relative to financial reporting, risk management and regulatory conformance.

He said the committee has authority to obtain outside legal or independent professional advice to ensure that it meets its

 objectives.

Mbo said BOL is committed to high standards of ethical, moral and legal business conduct.

“This whistleblowing service is intended to offer protection for any person who raises concerns regarding BOL, such concerns regarding but not limited to incorrect financial reporting, unlawful activity, a danger to public health or safety, gross mismanagement, substantial waste of funds, or clear abuse of authority,”  Mbo said.

Editor's Comment
What about employees in private sector?

How can this be achieved when there already is little care about the working conditions of those within the private sector employ?For a long time, private sector employees have been neglected by their employers, not because they cannot do better to care for them, but because they take advantage of government's laxity when it comes to protecting and advocating for public sector employees, giving the cue to employers within the private sector...

Have a Story? Send Us a tip
arrow up