As Its Welcomes Forensic Audit Report… SALCAB More Determined

 

The Sierra Leone Cable Limited (SALCAB) has in a press release issued on the 3rd of April, 2019, welcome the recently published special technical forensic audit report by the Ministry of Finance.

Despite the damning report that subsequently saw the arrest of the institution’s former head and Board Chairman, the new management has been able to deploy interventions to ensure processes and system gaps are mitigated across the board.

This strides, according to the release, has repositioned the business from SLE 3.8 billion loss to a profitable trajectory; reduced overall business operating expense by 38% and increased revenue by 32%; reduced the price of wholesale data by 48%, with a 0.00% incident of fraud or revenue leakage, among other reforms.

SALCAB’s new management has also, according to the release, deployed additional redundancy exchange in Paris and Accra to mitigate the existing risk of a single international subsea cable running between Freetown to Spain. “SALCAB also activated physical fiber point of presence in 28 cities (from Freetown to Guinea and Liberia borders respectively) and townships that are providing access for operators to transport large amount of data cheaper, and faster,” excerpt of the press release states.

According to the new management, prior to the recently published forensic report, the institution  had commissioned an independent forensic audit in August 2018, to have a clear understanding of operational gaps relating to people, processes and systems.

“We have clearly outlined programmatic interventions that are currently being deployed to ensure that we operate a resilient network, increase connectivity penetration and deliver + 1 customer experience,” the release further stated.

According to the current management, the damages caused by the previous administration of institution did cost not only the state a considerable revenue loss but also created a severe brand crisis and reputational damage to the business. “We are not only doing business in Sierra Leone. Our partners (ACE), clients and related parties are concerned about the current situation,” the release further stated, adding, “we are a 100% state-owned enterprise, but we have more obligations to doing business right and be a responsible partner.”

“While we commence the journey to rehabilitate the brand, restore the confidence of our partners and sustain our doing right business policy, we will also support the relevant authorities to carry out their legitimate functions,” the release concludes.