By JKM
The Auditor General’s Report has raised serious concerns over the financial management of the Sierra Leone Water Company (SALWACO), highlighting long-outstanding liabilities amounting to Le12,035,859 that have remained unsettled for more than five years.
The 2024 audit review of the company’s financial statements revealed that the liabilities were recorded in the payables account with no evidence of action taken by management to clear the debts. Auditors recommended that management investigate the obligations and develop appropriate settlement plans subject to board approval.
The report further urged the company’s board of directors to engage the Public Debt Unit within the Ministry of Finance to explore options for liquidating the debts, stressing the importance of timely resolution to avoid prolonged financial exposure.
In its official response, SALWACO management acknowledged the balances, explaining that the payables were owed to EDSA as at 31 December 2024. The company stated that the liabilities accrued during the construction and testing phases of water treatment plants in Makeni, Bo and Kenema.
Despite the acknowledgement, the Auditor General noted that no concrete repayment plan had been submitted outlining how management intends to address the issue. The auditors therefore concluded that the matter remains unresolved.
The findings place renewed focus on financial discipline within state-owned utilities and underscore the need for stronger oversight and accountability in the management of public sector liabilities.
