MISA’S Macha in K90 Million Financial Scandal

MISA-Zambia director Hebert Macha and his accountant have been implicated in a K90 million financial scandal.

According to inside sources, the financial irregularities were discovered by an accountant, Sarah Banda, after conducting an on the spot audit of the institution’s books of accounts.

Banda is an accountant who sits on the board on secondment from the Zambia Institute of Chartered Accountants (ZICA). Her presence on the board was prompted by an Annual General Meeting resolution following a series of financial scandals that had previously rocked the institution.

The sources revealed that when Banda questioned the accountant on the payments that were not properly tabulated due to lack of accompanying documents, the said accountant failed to give a satisfactory explanation and referred the query to Macha.

The scandal has left MISA Zambia board members in a quandary since they have also not been given satisfactory answers on the missing funds.