Swapo appoints new board bosses

DEVELOPMENT Bank of Namibia chief executive Martin Inkumbi and Swapo youth league leader Ephraim Nekongo are among the new faces appointed to the boards of Swapo-owned companies.

Swapo nominee shareholders’ committee chairperson Clive Kavendjii confirmed yesterday that new persons had been appointed on Swapo-owned company boards. The shareholders’ committee serves as the go-between organ between the party and its businesses.

The ruling party is widely known for running its business empire through Kalahari Holdings, whose portfolio includes 51% shares – estimated to be worth around N$250 million – in MultiChoice Namibia.

But the holding company has faced financial troubles over the years.

Kavendjii said the party appointed Inkumbi as the chairperson of Kalahari Holdings, deputised by retired brigadier general Rauna Hamata.

The other board members are Nekongo, businessman Elmo Kaiyamo, accountant Beverly Gawanas-Vugs, businesswoman Elizabeth Asino-Joseph, Social Security Commission chief executive Milka Mungunda, MMI Holdings Group head of internal audit Mona Lisa Jakobs, and Abraham Job.

Kavendjii added that the new appointments were made after the tenure of the previous board expired earlier this year.

According to him, the new board members will serve as from April 2019 to 2021.

“First of all, these are good cadres with good standing in the party,” he noted, adding that they wanted leadership that will transform the affairs of party businesses.

The board members will sign performance agreements with the Swapo nominee shareholders’ committee.

“They will be judged and monitored based on the performance agreements,” Kavendjii said.

Inkumbi promised to transform Kalahari’s investment portfolio into a profit-driven entity.

He said the company already had investments in diverse sectors, “which I believe are made either for profit or strategic motives”.

“The aim should be that investments made with a profit objective are managed such that they ultimately yield expected profits in the medium term, otherwise the company should reconsider such investments.

“Further, what is required is good governance in the management of the company and investment decision-making,” he said, adding that the responsibility “is huge, but we will aim to achieve good results”.

Swapo party youth league secretary Nekongo yesterday said he was not aware of his appointment because, according to him, he has not yet received his appointment letter.

Equally, president Hage Geingob’s personal assistant, Sharonice Busch, did not respond to questions sent to her by The Namibian.

The party is active in a range of critical sectors of the economy, including property, farming, media, fishing, transport, printing, security, healthcare and mining.

Kalahari Holdings, formed in 1989, is Swapo’s business flagship.

Kalahari Holdings wholly owns six subsidiaries – Namib Contract Haulage (NCH), Namprint, Kudu Investment, Ndilimani Cultural Troupe, Kalasota Mining Enterprises and the dormant Klondike Investments.

Kalahari is in joint venture ownerships with MultiChoice Namibia, Namibia Protection Services, Radio Energy, Africa Online, Farm De Rust, Sun Karros, Nabimar and Namhealth.

Most of these companies are loss-making, except the monopolistic 51% Swapo-owned MultiChoice Namibia, which has pumped millions into the ruling party’s coffers.

reported in 2017 that MultiChoice Namibia paid Kalahari Holdings around N$150 million in dividends ahead of Swapo’s elective congress.

Geingob’s administration has promised transparency and improved management of the ruling party-owned businesses, some of which were used by individuals as self-enrichment schemes.

Another Swapo-owned holding company is Zebra Holdings (Pty) Ltd, which has an interest in radio and other partnerships such as MetHealth Namibia Administrators, an entity which previously managed the state-owned Public Service Employees Medical Aid Scheme (PSEMAS).

Christian Maketo appears to have been demoted from being the chairperson of the Kalahari board – the party’s crown jewel – to a less powerful board.

He is now the deputy chairperson at Zebra Holdings.

Maketo was involved in an infamous public spat last year with secretary general Sophia Shaningwa over a report published by