Stefanus Nashama
The leader of the Popular Democratic Movement (PDM), McHenry Venaani has called on the Parliamentary Standing Committee on Natural Resources to conduct an urgent investigation into the revenue loss of approximately N$230 million at Namdia.
He also called on relevant stakeholders to address the issue decisively.
“An expedited investigation is necessary to ascertain the full extent of the losses, identify any underlying issues, and hold accountable those responsible for this situation,” he said.
In a statement released by the party on Wednesday, Venaani said the impact of such financial losses goes beyond the immediate figures.
“It has broader implications for the country’s economic stability and growth prospects,” he said.
He mentioned that the erosion of trust and financial stability in key national institutions undermines investor confidence.
This, he said, could potentially destabilise the diamond sector and have an impact on employment and economic prospects.
Venaani emphasised the importance of maintaining the integrity of national institutions and effectively managing the country’s resources.
“A loss of such magnitude raises substantial concerns about financial management, transparency, and accountability within the organisation,” said Venaani.
At the same time, he emphasised that Namdia, charged with protecting and advancing the diamond industry, should not be in a position to lose such funds.
Venaani believed that a corporation’s lack of finances not only undermines its integrity but also has serious ramifications for our national economy.
“This matter is deeply troubling and warrants immediate and rigorous scrutiny,” he stressed.
On Monday, Namdia’s board of directors acknowledged the concerns of employees regarding revenue losses, which led to a vote of no confidence in the company’s CEO, Alisa Amupolo.
The employees, under the auspices of the Mineworkers Union of Namibia (MUN), requested Amupolo’s removal in a letter to Namdia’s board of directors on 18 July.
The workers cited her incompetence and mismanagement as the primary reasons for the significant financial decline of Namdia.
