14
Nov
10
Nov
Eba Kandovazu MIKE Nghipunya, Fishcor’s former Chief Executive Offficer this afternoon told the court that he earned a total N$ 15 million in a period of three years for consultancy services he rendered with his company, Gwanyemba Investments Trust. Annually, Nghipunya earned N$ 5 million at Gwanyemba, while he made N$ 1.4 million as CEO of Fishcor. Nghipunya, asked for clarification by presiding Judge Shafimana Ueitele during his bail application insisted that the payment was an allowance. He explained to the court that the company consisted of a staff compliant of four employees. Himself as the Executive Chairman, a Director…
09
Nov
Eba Kandovazu FORMER Fishcor Chief Executive Officer (CEO), Mike Nghipunya, has this afternoon denied he owned 50 percent of shares in a company the State alleges he co-owns with one of the suspects, Phillipus Mwapopi. The close corporation company, Wanakadu Investment, is accused of selling dried fish to Fishcor for N$4,2 million. State Advcocate Cliff Lutibezi disclosed a Memorandum of Understanding (MOU) between Mwapopi and Nghipunya. In the MOU, Nghipunya appears to be a silent partner. Nghipunya rejects the document, which the State says was taken from his laptop. Nghipunya’s lawyer, Thabang Phatela, unsuccessfully objected to the laptop and its…
23
Apr
Andrew Kathindi Judge Christie Liebenberg has ordered the postponement of the Fishrot corruption Nengomar and Fishcor cases to the 20th of May, while the state prosecution files for a joinder application of the two cases. The Fishrot accused, which included former Fisheries Minister, Bernard Esau, former Justice Minister,Sacky Shangala, former Fishcor Chariman, James Hatuikulipi, former Fishcor CEO, Mike Nghipunya, Tamson Hatuikulip, Pius Mwatelulo, Otneel Shuudifonya, Philipus Mwapopi, will be remanded in custody. This comes as, during the first pre-trial session of the cases’ appearance at the High Court, Judge Liebenberg dismissed an application in which the State Prosecutor, Ed Marondedze,…
05
Mar
Andrew Kathindi Fishcor’s bank accounts have been unfrozen by the Bank of Namibia (BON), temporary Board chairperson Heinrich Mihe Gaomab II has revealed. “The Board informs the public on the positive developments of the unfreezing of the account of Fishcor to attend to its urgent and pressing financial and operational matters,” stated Gaomab II. The Financial Intelligence Centre (FIC) through BoN had frozen the corruption tainted state-owned enterprise’s accounts for breaking banking exchange regulations, according to reports. An investigation was launched in this matter. “Fishcor express it’s full confidence to the integrity of the investigations and express its continued cooperation…
18
Feb
Staff Writer African Selection Fishing Namibia (AFSN) Chairperson and Seaflower Pelagic Processing (SPP) majority shareholder, Adriaan (AJ) Louw, says N$ 600 million in quota fees alone, over the next 12 years, could be lost to Government, should it proceeds to approve the attempted termination of the joint venture between National Fishing Corporation of Namibia Limited (Fishcor) and AFSN. The businessman confirmed that over and above the quota fees of N$ 48 million per year, Fishcor could also lose their 40 percent share in the investment made. Employment of 655 workers will also be in jeopardy, while another 450 workers already…
13
Nov
Staff Writer Public Enterprises minister, Leon Jooste has come out in support of the beleaguered Fishcor board, amid mounting tension between it and the company’s management. The minister’s support comes as the fishing company’s managers in a scathing letter leaked to the media in which the minister was copied in, accused the interim board of malfeasance. They claimed that board members Social Security Commission Executive officer Milka Mungunda, lawyer Ruth Herunga, Mihe Goamab II and Penny Hiwilepo-Hal directly interfere in the day-to-day operations of the company. “This Board was appointed to an institution with a multitude of complex, intricate legacy…
16
Oct
Andrew Kathindi Public Enterprise Minister Leon Jooste has no plans to close the doors on Fishcor after the Fisheries and Finance Ministers vowed to forge ahead with auctioning off quotas it previously allocated to Fishcor. Earlier this month, Finance Minister Iipumbu Shiimi announced that government only managed to get a paltry $8.4 million from an initial N$627.9 million worth of bids for its fishing quotas. This however has not deterred the Fisheries and Finance Ministry as they will forge ahead with a new round of auctions. “I believe that there are various options available to continue with the operations of…
18
Sep
Andrew Kathindi The newly appointed Fishcor Board has resolved to change the company’s name as it continues to be used at the forefront of the Fishrot scandal. Fishcor was allegedly used to illegally funnel millions out of the fishing industry. These actions were done by its accused former board chairman and CEO, James Hatuikulipi and Mike Nghipunya in a web that is believed to be wide-reaching. Hatuikulipi, Nghipunya along with several others known as the Fishrot seven, including former Fisheries Minister Bernard Esau and former Justice Minister, Sackey Shanghala, are currently in prison while awaiting trial on various related charges.…
05
Sep
Staff Writer Deputy Judge President Hosea Angula has issued a scathing judgment in which he described the case brought by Seaflower Pelagic Processing against the fisheries ministry, as being part of desperate bid to retain its beneficial relationship with Fishcor. The Deputy Judge President last month ruled against the company’s bid to stop Government from auctioning more than 24,000 metric tonnes of horse mackerel, which was being done as part of efforts to raise additional funding for COVID-19 related activities. “Against that background it seems to me that the present application is a desperate attempt by the applicant to save…