WHERE IS JUSTICE FOR ECSPONENT INVESTORS? GOVERNMENT MUST ACT ON THE CLIFFE DEKKER REPORT
One would like to express some deep dissatisfaction with the way our government authorities have continuously failed to address what has come to be known as the Ecsponent issue.
For years, this matter has lingered unresolved, despite the government already having in its possession all the necessary information, as detailed in the Cliffe Dekker Hofmeyr report, which was commissioned by the Central Bank of Eswatini under the instruction of Parliament.
The Cliffe Dekker report did not only outline the issues; it went further to make clear recommendations on how the funds invested by Emaswati could be recovered. However, despite having such a detailed blueprint for action, our authorities have done little or nothing to recover the investors’ money. Why this inaction continues remains a question that only government can truly answer.
For example, the Cliffe Dekker report specifically notes that all of MyBucks’ assets are now held under MHMK Group, a company belonging to one George Manyere. This fact is there, in black and white, within the report itself, but rather than acting on such concrete information, what the public continues to receive are misleading narratives and inaccurate claims, especially regarding the role of Dave van Niekerk in relation to both Ecsponent and MyBucks.
Instead of dealing with the real issues, some have chosen to distort facts and cast blame on van Niekerk, perhaps in an attempt to find a convenient scapegoat. But let us look at the truth. This is the same Dave van Niekerk who has recently shown real commitment to helping recover lost funds, for instance, through his efforts in rescuing Status Capital, where he has already helped recover about E35 million belonging to its Building Society members.
Van Niekerk has repeatedly expressed willingness to assist in recovering the Ecsponent funds as well. What is deeply disturbing, however, is the silence and lack of action from the very state institutions that are mandated to execute the recommendations of the Cliffe Dekker report. The report, after all, cleared van Niekerk of wrongdoing and implicated George Manyere, the same Manyere who, not long after, was seen in Eswatini engaging closely with authorities.
This raises difficult but necessary questions, as to how can Dave van Niekerk be held responsible for the collapse of Ecsponent when he was never a director, officer, or executive of the company? Would it make any sense for someone to deliberately undermine their own business interests, to “vote themselves out” of influence, only to orchestrate the downfall of a company over which they had no control?
The facts speak for themselves. So why is the narrative being driven against van Niekerk, when the assets at the centre of this entire saga are now consolidated under another party?
At the heart of this issue are ordinary Emaswati, hardworking people who invested their money in good faith, hoping for a better future. Many of them have waited for years without answers, and heartbreakingly, some have since passed away without ever seeing justice or the return of their life savings.
It is time for the government to act, decisively, transparently, and with urgency. The people of Eswatini deserve nothing less than the truth, accountability, and the recovery of their hard-earned money.