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Namdia’s internal diamond valuation saved millions – Eiseb

Bryan Eiseb

Namib Desert Diamonds (Namdia) chairperson Bryan Eiseb says the company’s internal valuation process has saved the country millions of dollars.

Eiseb said this yesterday, following a High Court victory by mines and energy minister Tom Alweendo against Nuska Technologies, formerly known as C-Sixty Investments, on Friday.

The court case challenged a July 2022 decision by an arbitration tribunal which had previously compelled the government to renew Nuska Technologies’ five-year N$200-million contract to valuate Namdia’s diamonds.

Israeli businessman Doron Cohen and two local businessmen, John Walenga and Tironenn Kauluma, were key beneficiaries of around N$138 million in taxpayers’ money from a deal which lasted from 2016 to 2021.

They have previously denied any wrongdoing.

The Ministry of Mines and Energy used to pay for diamond valuation services performed by C-Sixty Investments/Nuska Technologies through the Diamond Evaluation Fund.

The ministry paid about N$3 million per month for services Namdia can provide itself.

“Because we do our evaluations in-house at Namdia, that expense is no more paid,” Eiseb said.

“Our internal evaluation has saved the country and Ministry of Mines and Energy through the Diamond Evaluation Fund millions of dollars.

He said this capacity would be enhanced by leveraging digital technology.

COURT JUDGEMENT

Two High Court applications were brought before judge Shafimana Ueitele.

Alweendo, represented by lawyer Sisa Namandje, filed High Court documents on 23 August 2022 to overturn a decision by an arbitration tribunal which compelled the government to renew Nuska Technologies’ five-year N$200-million contract to valuate Namdia’s diamonds.

The other application was brought before the same court by Nuska Technologies, asking the High Court to implement the July 2022 arbitration decision that compelled the ministry to award a renewal.

On Friday last week, the High Court ruled in favour of the minister and the ministry.

Nuska Technologies claimed the valid and operative agreement is that of October 2016, while Alweendo said it was that of September 2016.

Ueitele said both agreements are identical and both were dated 20 October 2016.

“Both service-level agreements were signed on behalf of Nuska by Mr John Walenga, a (former) director of Nuska, and on behalf of the ministry by Mr Simon Negumbo, the (former) executive director of the ministry,” he said.

Ueitele concluded that the valid and operative agreement between Nuska and the ministry was that of September 2016.

“I could not find a copy of the notice contemplated in clause 19 of the September 2016 or even the October 2016 agreement,” he said.

Ueitele said the minister’s argument that the arbitration could not be conducted because the conditions set out in the agreement of September 2016 had not been met, was upheld and the application to make the arbitration award of July 2022 an order of the court was therefore refused.

The tribunal consisted of lawyers Slysken Makando, Shimue Mbudje and Lucius Murorua.

Murorua was former justice minister Shanghala’s lawyer in the Fishrot bail hearing, while Mbudje represented Shanghala when the politician’s assets were confiscated from his house after his arrest in 2019.

Namandje yesterday said: “We have always pointed out that the decision of the three arbitrators was patently wrong and Nuska’s claim was in reality opportunistic in nature.”

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