… chief internal auditor’s advice ignored The management of the Namibia Institute of Pathology (NIP) has gone against the advice of its chief internal auditor to buy 18 vehicles for N$8 million, instead of renting them at N$10,4 million over four years. A breakdown of the new fleet costs prepared by NIP chief internal auditor...
President Nangolo Mbumba has revealed that the government has made a budget allocation of N$8 million to revive the now-defunct Kalimbeza Rice Project in the Zambezi Region and approved plans to set up a sugar plantation on part of Kalimbeza, as well as a sugar processing plant in Katima Mulilo. “I am pleased to inform...
Businessman Ali Dharani of the Rani Group of Companies says he would have lost up to N$8 million per day if the Namibia Economic Freedom Fighters (NEFF) closed down his shops over the festive season. “I estimate that, should the respondents carry out their threat to shut down all my businesses countrywide (particularly in the...
Namib Desert Diamonds (Pty) Ltd (Namdia) has disclosed that its two properties in Windhoek were revaluated by an independent property valuator, resulting in a fair value loss of N$5.5 million for Erf 336, Klein Windhoek, and a fair value loss of N$2.5 million for Erf 337, Klein Windhoek. In terms of the revaluation of remainder...
Nampower managing director Simson Haulofu says no one has been held accountable for the disappearance of N$8 million worth of equipment at the company. This is despite recommendations that two of the company’s top electricity executives should be charged with negligence. A forensic investigation recommended that the parastatal should charge NamPower’s chief engineering assistant, Johan...