Nida fears collapse over N$3 billion asset transfer order
via The Namibian7 min read
The Namibia Industrial Development Agency Nida is concerned about its future after a government directive to transfer 154 of its assets, including farms and complexes, valued at approximately N$3 billion. This portfolio, spanning 14 regions, includes commercial, industrial, and developmental properties. The directive, reportedly from the Cabinet, is part of a state asset restructuring and has raised fears of job losses and the agency's potential collapse. Nida's acting chief executive Phillip Namundjebo stated that these properties are crucial for funding daily operations, including salaries and project investments. While Nida initially identified 97 properties to surrender and 57 to retain, the Ministry of Industries, Mines and Energy later instructed that all 154 properties would be transferred to the Public Asset Management Agency, currently being established under the Ministry of Works and Transport. Nida was created in 2018 to advance Namibia's industrialisation agenda, merging the Namibia Development Corporation and Offshore Development Company. The transfer of all assets, rights, liabilities, and obligations from the merger has not yet been completed. Nida's properties also include significant agricultural assets like Kavango Cattle Ranch and Naute Irrigation Farm, and joint ventures such as Coca Cola Namibia Bottling Company, which has provided substantial annual dividends. However, some investments are under pressure, with several joint ventures reporting losses. Nam
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This summary was AI-generated from a story originally published by The Namibian.
Mexico secured a 2-0 victory over nine-man South Africa in the opening match of the World Cup at Estadio Azteca. Julian Quinones scored the first goal of the tournament, followed by a second from veteran striker Raul Jimenez. South Africa finished the match with nine players after Sphephelo Sithole and Themba Zwane received red cards. Quinones opened the scoring in the ninth minute, with Jimenez adding the second in the 67th minute. Sithole was dismissed in the 49th minute, and Zwane in the 84th minute after a VAR review. Mexican defender Cesar Montes also received a red card late in the game.
Selma Ashipala-Musavyi, Minister of International Relations and Trade, stated that the relationship between Namibia and Portugal, particularly in trade and investment, has significant potential for further development. Her remarks were delivered by Charles Josob, acting head of the bilateral department, during a Portugal Day celebration at the National Art Gallery of Namibia in Windhoek. Ashipala-Musavyi noted that while trade volumes are improving, they have not yet met the full ambition or depth of the friendship between the two nations. She highlighted that Namibia and Portugal have cultivated a strong relationship through cultural exchange, language training, and trade, acknowledging the Portuguese community's contributions to Namibian society. Josob congratulated Portugal on its election to the United Nations Security Council for 2027-2028 and the performance of its national football team. Portugal Day, officially known as the Day of Portugal, Camões and the Portuguese Communities, is celebrated annually on June 10, commemorating the death of poet Luís de Camões. Portuguese ambassador to Namibia Rui Carmo explained that the day celebrates the collective identity, the Portuguese language, and Portuguese communities worldwide. The embassy marked the occasion with a fado concert featuring singer Soraia Cardoso and musicians João Felipe and Bernardo Romão.
Vitalis Nepembe, 35, known as "Dax," was arrested in Ondangwa this week in connection with a N$385,000 transaction, part of an ongoing N$2.1 million fraud case against Sanlam Namibia. Nepembe faces allegations of fraud, acting with common purpose, and corruption-related offenses. A source indicated that Nepembe allegedly received the N$385,000 from Claudia Martin, who is accused of fraudulently claiming approximately N$1.2 million from Sanlam Namibia. This payment reportedly followed the false presentation of Elizabeth Elifas's laboratory results as Martin's in December 2024 to support a fraudulent chronic illness insurance claim. Nepembe, listed as accused number 21, appeared in the Ondangwa Magistrate’s Court on Wednesday, was remanded in custody, and his case was postponed to June 15 for a bail application.