ACC arrests five in N$500 million Namcor ‘corruption’ scam
...N$560 million in bogus oil transactions where the parastatal supplied politically connected companies with petroleum products but was never paid for the fuel...
!Gawaxab’s business deals in the spotlight
Competition Commission slaps BoN governor, former partner with N$1m fine
BoN fiddled as SME Bank was looted
…Central bank took four years to report suspected irregularities
GIPF pension adviser in clash of interests
THE Government Institutions Pension Fund (GIPF) has pushed through a N$4 billion investment to a group that also provides investment advice to the state pension fund. The multibillion-dollar deal has raised concerns about a conflict of interests. Financial advisory company RisCura Consulting
Investec ties haunt GIPF
MORE questions have been raised about the Government Institutions Pension Fund’s investment adviser, RisCura, over what is seen as an uncomfortably close relationship with Ninety One Asset Management (formerly Investec Asset Management Namibia). Ninety One Asset Management manages a large chunk of
Shifeta hand-picks Sossusvlei transporter
MINISTER of environment, forestry and tourism Pohamba Shifeta has hand-picked businessman Laban Kandume’s company to exclusively transport travellers into the Namib Desert’s renowned Sossusvlei area. This is set to affect the income of the struggling state-owned Namibia Wildlife Resorts (NWR), which may
Namib Desert under threat Plan to introduce train and road in pristine Sossusvlei criticised
A PROMINENT lodge operator says a proposal to construct a motor and railway transport system in the pristine Namib Desert ecosystem could threaten the environment and create a monopoly for businessman Laban Kandume. The area in question is the renowned Sossusvlei –
Wildlife guardians probed
NAMIBIAN wildlife organisation co-funded by international movie star Angelina Jolie is butting heads with the Ministry of Environment, Forestry and Tourism over allegations that it broke laws by buying, transporting, keeping and breeding animals without the required permits. The N/a’an ku sê
Mining water wars
SWAKOP Uranium Mine says it has lost N$1,9 billion over the past two years because of a French state-owned nuclear company’s inconsistent water supply. This mine is not the only one complaining. Rössing Uranium is also experiencing irregular water supply from the
More questions about the Xaris tender
THE company chosen for a multibillion-dollar contract to fix Namibia’s looming electricity crisis failed to meet basic set requirements. The Namibian has seen evaluation documents suggesting that the state energy company, NamPower (Namibia Power Corporation), overlooked its own criteria to allow Xaris
Broke TNamib splurges
TRANSNAMIB directors have wasted little time in spending extravagantly on the controversially appointed chief executive officer Sara Naanda, who was supposedly hired because of “financial prudence”. The Namibian has it on good authority that the board of directors reneged on their own
