Walesi Fiji reportedly received $123.6 million in government grants from 2015 to 2022, yet a recent special audit revealed troubling financial practices within the company during this time. The audit indicated that Walesi invested $70 million in equipment; however, it has continued to depend significantly on government support, primarily due to its inability to generate revenue.
During a presentation in Parliament, Communications Minister Manoa Kamikamica emphasized concerns over ten payments amounting to $9.3 million that lacked appropriate documentation, complicating the ability to confirm their purposes and adherence to legal requirements. The audit also highlighted the absence of a project closure report, which prevented a detailed assessment of actual project costs against the budget. An analysis suggested that project expenses possibly exceeded $70 million, with estimates indicating that around $80 million could be viewed as wastage, equating to a striking 68 percent of the total funds spent until 2022.
Minister Kamikamica did not shy away from criticizing the previous administration, describing Walesi’s situation as a “failure” and an emblem of neglect in leadership. He lamented how the allocated funds could have instead been utilized for essential infrastructure projects like hospitals, roads, and bridges.
This situation, while highlighting significant mismanagement, opens up an opportunity for the current administration to implement necessary reforms and restore accountability within government-funded projects. With proper oversight and strategic planning, future investments can be directed towards projects that truly benefit the community, ensuring that taxpayer money serves its intended purpose.
In summary, the audit findings regarding Walesi Fiji underscore a critical need for enhanced financial governance and transparency in state-funded enterprises, fostering hope that future leaders can learn from past mistakes to create a more responsible and effective utilization of resources.
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