Today's Big Stories

Cango Caves management missing millions

Management at the Cango Caves in Oudtshoorn are concerned about a total of R17 million which is missing from the tourist attraction’s investment fund.

The millions were to be used for operational expenses at Cango Caves.

According to EWN, the Cango Caves have been experiencing financial difficulties since its bank account was joined with that of the Oudtshoorn Municipality account last year.

General Manager at the Cango Caves Hein Gerstner says that it has been a long battle to try and ease the Cango Caves’ financial difficulties, and to get to the bottom of the missing money.

From 2002, the situation of the municipality as custodian of Cango Caves was not a good arrangement. Things flared up in 2007 and I think the thing that really broke the camel’s back was when the Cango Caves reserve fund was depleted last year in June. We lost all financial control.

Hein Gerstner, General Manager at the Cango Caves

Gerstner is also concerned about the implications of the missing money will have on Cango Cave contractors who have not been paid by the municipality.

Dr Ivan Meyer, Western Cape MEC for Finance spoke to CapeTalk presenter Kieno Kammies about the financial situation at the Oudtshoorn municipality.

I became aware of the financial problems at the Cango Caves and immediately made an unannounced site visit to the site. I’ve spoke to the GM and I did that since the Oudtshoorn municipality is not always honest. On my return, I referred the matter to the Auditor-General for further investigation. There are serious concerns. The municipality has failed to pass the budget and I have stopped them from withdrawing any money from the bank accounts.

Dr Ivan Meyer, Western Cape MEC for Finance

Listen to the full conversation on CapeTalk's Breakfast with Kieno Kammies:

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