August 26 millions still missing

August 26 Logistics says a private firm which trades in military equipment has not yet paid back a N$2.5 million loan.On 24 May, Penda Trading Enterprises approached the board chairperson of the military’s logistics firm, Major-General Petrus Nathinge, seeking a loan. The company was given a contract to carry out classified objectives, but it was in need of N$2.5 million to kick-start the project, it said. Nathinge approved the request a day later and wrote to August 26 Logistics managing director Salatiel Ntinda, informing him to transfer the requested funds.According to Nathinge’s instructions, the funds were to be repaid by 31 July, but that has not happened.Board spokesperson Kelvin Thembikozi yesterday confirmed that the company has been unable to recover the funds.“The money has not been returned yet; it is still in the process. We have engaged lawyers to pursue the matter. Thus far, nothing has been returned.”Ministry sits idleThe million-dollar transaction led to Nathinge’s suspension from the board. The defence ministry – where he works as a deputy director – has seemingly opted not to take any action against Nathinge, who continues to attend to his daily work commitments at his full-time employer.Two August 26 employees - Ntinda and chief financial officer Kallie Nel - were also placed under suspension until investigations are completed.Deserved suspensionAugust 26 board chairperson Brigadier Fillemon Shafashike defended the action taken to suspend Nathinge from the board, pending the conclusion of investigations. “The issue is being dealt with. August 26 should be indemnified and the company [should] not lose money. On our part, we are doing our due process. “We have taken action in accordance with what we think is right,” he said.The outcome of investigations would determine whether money had indeed been lost, he added.“An investigation is still underway; it is only after the investigation that we can state whether money has disappeared,” Shafashike said. Clean auditNathinge has denied any wrongdoing in the matter, insisting that no money has been lost.“I have not caused the disappearance of any money at August 26 Logistics. No money has disappeared. There is a clean audit report for the past 10 years; we declared dividends to the shareholder for the past nine years. "Whoever has proof of the disappearance of money must come forward. There is nothing like that,” he said during a telephonic interview yesterday. When the matter entered the public domain in June, Affirmative Repositioning activist Job Amupanda alleged that “a very senior military man, a two-star general, caused the disappearance of public defence money, close to N$3 million that was transferred into a bank account of an ordinary man – a civilian now dancing in Katutura”.“The tendency of [the] corrupt military men is that once they get their full cup from the big milk container [seemingly August 26], they start licking the cup from the outside while the hungry masses look on, asking when God is coming,” he said at the time.

August 26 millions still missing

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Namibian Sun 2026-10-15

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August 26 millions still missing

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Namibian Sun 2026-10-15

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