Escher Luanda

06 Oct

Experts worried about NIPDB setup

ObserverNational NewsAdrianus Vugs, Escher Luanda

Ester Mbathera Financial sector and governance experts expressed concerns about the structure of the Namibia Investment Promotion and Development Board (NIPDB). This follows the announcement by the NIPDB that it is transitioning to a new governance structure. Adrianus Vugs, a financial sector expert, argued that the creation of the NIPDB outside of formal government structures was flawed. He questioned why the institution reports directly to the president instead of to the Ministry of Industrialization and Trade (MIT), which he says raised concerns about its governance and transparency. “Why should it still report to the president? And why should the chairperson…

Air Namibia board resigns …accuses shareholder of governance violations

ObserverObserver MoneyAir Namibia, Escher Luanda, Heritha Muyoba, Leon Jooste, Ministry of Public Enterprises, Willy Mertens

Staff Writer The Air Namibia board resigned en masse on Wednesday after writing a scathing letter, accusing government of corporate governance violations in its dealing with the airline. First to hand in his resignation was Willy Mertens, who is reported to have resigned on Monday, after the airline on Friday had entered into a settlement agreement with Belgian company, Challenge Air whom it owed for a 1998 airplane lease agreement. Air Namibia board Chairperson, Escher Luanda, and Heritha Muyoba are reported to have tendered their resignations on Wednesday, a position confirmed by Public Enterprises Minister, Leon Jooste, with the status…