Roads Contractor Company (RCC)

09 Mar

Government considering RCC liquidation

ObserverNational NewsGovernment considering RCC liquidation, N$ 3 million, Roads Contractor Company (RCC)

Hertta-Maria Amutenja The Ministry of Finance and Public Enterprises yesterday revealed that government is considering the liquidation of the financially struggling parastatal, Roads Contractor Company (RCC). The parastatal, which has a monthly wage bill of just over N$ 3 million, and long term- loans worth just less than N$ 8 million, has been in operation despite having an impaired profit. “The Government is busy consulting through the development of the plan. Once that has been completed, it will inform the decision on what the Government will do with the company,” Wilson Shikoto, the Ministry’s Spokesperson said. However, Shikoto adds that…

Govt backtracks on RCC liquidation

ObserverObserver MoneyNamibia Post and Telecommunications Holdings, Roads Contractor Company (RCC)

Andrew Kathindi The government will no longer be going ahead with its initial plan for the possible liquidation or placement under judicial management of beleaguered state roads contractor, Roads Contractor Company (RCC). With RCC financial woes again coming to the fore, the latest being its failure to pay N$6.1 million in rent for its former building, which it now rents from the Namibia Post and Telecommunications Holdings, Public Enterprises Minister, Leon Jooste, told the Windhoek Observer on Monday that government will no longer be taking the liquidation route. “The Ministry of Public Enterprises is not pursuing the liquidation or judicial…