N$10m community trust gets new trustee

The Otjiwarongo municipality is proposing a new external trustee for a community trust linked to the N$10 million community-development fund associated with the Cheetah Cement project, according to a document seen by Namibian Sun.

The management committee has proposed Ewaldine Iiue Kauta to replace Jacklyn Ndjozikiro Hambuindja, who has moved to Uis and is no longer a resident of Otjiwarongo.

The document states that the trust will have N$10 million as starting capital, with additional funds potentially channelled to it in future.

The N$10 million was part of the arrangements surrounding Whale Rock Cement’s 50-year lease of a 1 004-hectare portion of Farm Cleveland outside Otjiwarongo, reported in 2018.

If Kauta declines the appointment, the municipality proposes advertising the trustee vacancy.

-Phillipus Josef