If your business still handles cash like it’s 1998, this one is for you.
So, Greystone Nursery School’s director and headmistress, Candice Cherry Prinsloo, allegedly decided to do her own curriculum adjustment from teaching ABCs to mastering How to Disappear $84,000 Without a Trace.
Now, instead of marking homework, she’s marking court dates.
Between January and October, she allegedly pocketed school fees, dished out receipts, and conveniently “forgot” to deposit some of the money into the school’s account. Imagine paying your child’s school fees, only to find out the cash went to someone’s hair appointment or “business trip.”
But here’s where it gets deep not just funny. This story screams a thousand lessons for business owners across Africa.
Don’t Build a Business on Trust, Build It on Systems
Too many entrepreneurs run businesses on the sacred word “trust.” My brother, trust is not an accounting policy. If your system depends on “I know her, she’s honest,” prepare a soft pillow because that heartbreak will be financial.
Every dollar that enters your business must pass through a system, not a person. Have accounting software, receipts that reconcile with deposits, and reports that actually mean something. Whether you’re selling tomatoes or technology, you need a system that shows where every cent is going in real time.
Bookkeeping Is Not an Option, It’s Survival
Bookkeeping is that boring cousin of business that people ignore until the police are at the gate asking for your financial records.
If you don’t have an internal accountant, outsource one. Let them send you weekly or monthly reports. You can’t manage what you don’t measure, and you can’t measure what you’re not tracking.
If you ever want to sleep peacefully, let your books talk to you before police does.
Verify, Don’t Assume
In business, emotions are expensive. Logic is cheaper. When someone says, “Everything is under control,” that’s your cue to go and check. Cross-check reports, verify cash on hand, match receipts to bank deposits, and audit frequently.
Your employee may have the sweetest smile and call you “Boss Boss” but that won’t stop them from building a secret mansion in Chishawasha using your money.
Use Technology Like You Mean It
We’re in 2025, yet some businesses still run on handwritten receipts and a calculator with a missing “5” key. There’s no excuse. Invest in an ERP system platforms that can help you track accounting, HR, payroll, and sales all in one place.
If Candice had to log every payment into a digital system visible to both directors, she’d have thought twice before running a parallel “side hustle” with school fees.
Have Checks and Balances Even in Partnerships
In this case, Candice had 49% ownership, while the finance director had 51%. But power in numbers means nothing if oversight is weak. Whether you’re running a school, salon, or software company clearly define who handles what and who reviews who.
A partner who never checks what the other is doing is not a partner, they’re a spectator.
Bonus Lesson: The African “Hand-to-Hand” Habit
Many African businesses love cash. “Just bring the money, I’ll handle it personally.” That’s how fraud is born. It’s 2025, let your customers pay directly into the company account. If you must handle cash, deposit it immediately. Because if money sleeps in the office, it might wake up missing.
Protect the Bag Before You Lose the Business
If your business can’t account for its money, it won’t last no matter how passionate you are. Love your business enough to question it. Trust your staff enough to verify them.
Because as we’ve just learned, sometimes the person saying “Let’s build the school” might just be building their dream house with your school fees.
By The Chartered Vendor
