Geingob’s daughters defend Tunacor shares

PRESIDENT Hage Geingob’s two daughters have defended their decision to acquire shares in Tunacor, a fishing company that has been accused of receiving preferential fishing quotas from former fisheries minister Bernhard Esau.

The president’s two daughters – Nangula Geingos Dukes and Oshoveli Munashimue – own shares through Naaveyo Family Trust.

There are allegations that companies under the Tunacor flagship have been previously favoured by former fisheries minister Esau and new minister Albert Kawana, who has failed to change laws that allowed for alleged corruption deals involving around N$2 billion.

Details of Tunacor’s shareholders were first reported on talk show radio Eagle FM this week.

These details have revealed how politicians, their friends and their cronies have positioned themselves to benefit from Namibia’s fisheries resources.

In a statement issued yesterday, Naaveyo Family Trust denied allegations that they were handed Tunacor’s shares due to their proximity to power.

They said they were proud to be associated with Tunacor, which has “ensured the participation of a broad base of Namibians from all backgrounds”.

According to the statement, Geingob’s daughters hold 2% shares in Tunacor.

“We acquired our shareholding on commercial terms and did not benefit from any preferential terms, or access, nor are we aware of any laws or regulations which preclude, or discriminate against, our participation in business,” the statement reads.

They also denied receiving preferential quotas from the government and that because of their father’s prominence.

“We are adult Namibian citizens who have never used our surnames for any advantage and it disturbs us that the name of our father, who was not aware of this transaction at the time of its conclusion [is being mentioned],” the statement reads.

The statement further states that this narrative is being used “as clickbait to pursue a pre-conceived narrative against him [Geingob]”.

The statement also clarified that a third person, Nangula A. Munashimue, named on the list of Tunacor’s share under the Naaveyo’s Family Trust, was not Geingob’s daughter.

“We have no knowledge of an individual by the name of Nangula A. Munashimue,” the statement states.

Former president Hifikepunye Pohamba’s family also has shares in Tunacor through Shetweni Pamwe Trust.