The North West Provincial Legislature’s Standing Committee on Public Accounts has resolved to establish an Ad Hoc Committee that will be chaired by Hon Mahlakeng to investigate the status of Public Entities in the province reference to Signal Developments (PTY) Ltd.
The Signal Developments (Pty) Ltd is a private company that falls under the Department of Finance and was incorporated by the former Bophuthatswana Government as a vehicle to facilitate the development, financing and maintenance of the Leopard Park Golf course in Mmabatho.
The former Bophuthatswana Government was the only shareholder in the company. It is not certain whether the company by nature of managing land; tourism infrastructure; sporting facilities or financial interest would have resorted under appropriate national or provincial department after the 1994 elections and in terms of the new constitutional framework.
Both the properties together with the land of the golf course are estimated at more than R500 million. The Committee will investigate how the entity was established and whether it was registered in terms of which laws and regulations.
This came after the Public Accounts Committee went on an oversight visit to the golf course where they raised concerns with regards to the non-submission of financial statements to the Auditor-General’s office and accountability on the property and assets of the entity.
Amongst others, the committee had recommended for certain documentation to be submitted which includes the outstanding annual financial statements for audit purposes, copies of title deeds of sales to ascertain the ownership and minutes of board meetings.
Chairperson of the Ad Hoc Committee, Hon Mahlakeng said the committee will determine certain information about the entity including whether there was an EXCO or Legislature Resolution taken on the matter.
“We will seek information on who are its directors and shareholders as well as establish whether the company has a bank account, its currents status and the signatories thereof,” said Hon Mahlakeng.
He said they will find out if there was property or assets sold and current status of property and proceeds. “We will also investigate the transfer of R10 million and as to who authorised such payments and its purpose,” said Hon Mahlakeng.
For more information contact:
Ms Namhla Luhabe
Tel: 018 392 7000
Cell: 079 527 0628
