20 Sep 2022

Chobe Enclave Community Trust (CECT) is doing well, despite stagnant financial flow experienced at the height of the COVID-19 pandemic.

CECT accountant, Ms Chaza Sinvula, revealed during the CECT annual general meeting over the weekend that the organisation accumulated revenue through hunting quotas, photography tourism and rentals in 2021.

Ms Sinvula said the total income for the year under review was P9 million with P5.5 million expenditure and P3.5 million profit, adding that the profit would be equally divided amongst five villages owning the CECT.

Meanwhile, the value of CECT stood at over P37 million as at December 31, 2021, according to Mr Clive Zimunya of Alliant CPA Associates. 

When presenting an audit report for the trust, he said its equity value, among the diverse investment portfolios, was P37 342 235 for the period ending December 2021.

Mr Zimunya said according to their audit opinion, the financial statements reflected transparency and were compliant to the International Financial Reporting Standard for Small and Medium-sized Entities.

He said the audit was conducted in accordance with International Standards on Auditing and other independent requirements applicable to performing audits of auditor’s responsibilities for the Audit of the Financial Statements of Botswana. 

CECT manager, Mr Moses Sinchembe, called for the need to diversify or consider non-tourism income generating projects as over-reliance on tourism related means could be problematic in the future. Ends