Audit uncovers US$391k theft at Dabula Community Co-operative

Three former board members of Dabula Community Co-operative Limited in Kenmaur, Lupane, are accused of embezzling nearly US$400,000 in rental income and other fees between 2019 and 2025, according to a 70-page independent audit report commissioned by members.

The alleged misappropriation has left the co-operative burdened with serious financial obligations, including a US$17,000 debt owed to Zesa. The probe was initiated after a new board was elected, with some previously serving members being implicated in the alleged misconduct.

The report identifies former secretary Silas Moyo, along with Perseverance Tshuma and Mthenjwa Gumbo, as central figures in the suspected fraud. Moyo is alleged to have collected US$391,386 — revenue auditors believe should have been recoverable at approximately US$371,816.70 after standard bad-debt adjustments — none of which appears in the co-operative's official accounting records.

Auditors say critical financial documents were missing, destroyed or withheld, forcing investigators to rebuild records using interviews, third-party confirmations and forensic reconstruction methods. They also allege that board members issued rental receipts without approval, some lacking the co-operative letterhead or bearing different company names entirely.

The report describes a total collapse of governance, citing nonexistent financial controls, destroyed records, and what it calls wilful neglect by the previous board. Several assets — including a Mazda truck, fuel tanks and other materials — are also unaccounted for.

Members have voted to suspend the implicated individuals pending police investigations, although the trio is reportedly resisting removal. The report recommends criminal charges to recover the missing funds.

Co-operative chairperson Richard Khumalo confirmed that the matter is now with law enforcement and efforts are underway to trace lost assets.