Axed Nida boss leaves behind trail of chaos
Company defies Shafudah on business plan
The prime minister has written a letter demanding answers regarding controversies at Nida, including a N$550 million deal.
The departure of Richwell Lukonga as acting CEO of the Namibia Industrial Development Agency (Nida) has revealed a web of internal disputes - ranging from the implementation of an unapproved strategic business plan, to the controversial appointment of a new finance manager and potential conflicts of interest in multi-million-dollar deals.
These developments surfaced following a high-level meeting held last Friday between Deputy Prime Minister Natangwe Ithete, the Nida board, and Lukonga.
During the meeting, Ithete ordered the suspension of all strategic decisions and plans by the parastatal until further notice.
On Tuesday, Ithete directed the board to terminate Lukonga’s secondment to Nida.
Addressing parliament yesterday, Ithete said he would return to the House next week as the answers he had prepared did not reflect the current realities at Nida.
Long-serving executive Philip Namundjebo has since taken over as acting CEO.
“Following consultations with the Nida board and management, it became evident that the policy direction pursued by Nida under the current acting CEO is not conducive to the achievement of the objectives of Nida,” reads a letter to the board, seen by Namibian Sun.
New finance manager
Lukonga, who serves as the chief operating officer of the Namibia Investment Promotion and Development Board (NIPDB), was seconded to Nida in March 2024 for a 12-month term, with the endorsement of former finance minister Ipumbu Shiimi.
However, the then trade minister, Lucia Ipumbu, had rejected Lukonga’s secondment.
Among Lukonga’s controversial decisions was the appointment of Julius Nghikevali, a former Deloitte & Touche partner, as Nida’s finance manager on a salary of N$160 000 per month.
Nghikevali was appointed in November last year to replace Jeremiah Ntinda, who had been suspended in September 2024 for alleged misconduct.
Lukonga was also in the process of hiring five additional executives - four on five-year contracts and one on a two-year term.
The targeted positions included strategic executives for human capital; investment and industrialisation; agro-business; commercial and infrastructure; and a manager of assets and facilities management.
Despite ministerial directives to halt recruitment, Nida reportedly went ahead with interviews for these roles last week.
Monasa deal
Lukonga’s exit has also been linked to the controversial dealings involving Monasa Advisory & Associates - a company owned by Jason Kasuto, a known associate of former Nida board chairperson Lionel Matthews and reportedly close to Lukonga.
As reported by Namibian Sun last month, the firm stands to make a potential N$27 million profit from implementing a turnaround strategy for Nida - a strategy it originally developed under a separate N$2.8 million contract.
The turnaround contract awarded to Monasa includes raising funds amounting to N$550 million for Nida, with Monasa charging a rate of between 3% and 5% in commission.
This means the company owners could pocket close to N$27 million from the deal if the commission is calculated at the upper end of the scale at 5%.
The arrangement has raised concerns over a possible conflict of interest, with the same firm both designing and now implementing the strategy through two different contracts.
Sources have also questioned Matthews’ ties to current Nida board chairperson Sebby Kankondi. Both men served at Nedbank Namibia - Matthews as managing director and Kankondi as board chairperson, though not concurrently.
In parliament yesterday, Prime Minister Elijah Ngurare revealed that he had written a letter demanding answers about Monasa’s latest contract at Nida. Namibian Sun understands the letter was addressed to Secretary to Cabinet Emilia Mkusa, who is expected to escalate it through the appropriate channels.
Unapproved strategic business plan
Lukonga was also criticised for implementing an Integrated Strategic Business Plan (ISBP) that had not been approved by the Ministry of Finance and Public Enterprises.
In a letter dated 23 April 2025, finance minister Erica Shafudah responded to a request by Kankondi for ISBP approval, stating that the submitted plan did not meet the required criteria.
She directed Nida to align its strategy with ministry guidelines, diversify income streams, and invest in remaining key assets to support the country’s industrialisation agenda.
Shafudah further advised that Nida refocus its resources on priority sectors, implement a robust monitoring and evaluation framework, and submit quarterly progress reports to the ministry.
Despite this, Lukonga went ahead with launching the plan in May this year, announcing an ambitious goal of creating 35 000 jobs over the next five years.
Acting CEO’s task
Namundjebo has been tasked with working closely with the line ministry and the board to realign Nida’s operations with government policy objectives and to swiftly implement the ministry’s infrastructure work programme.
He is also expected to address widespread concerns across Nida’s industrial and SME parks, office buildings, housing projects, and other initiatives under the agency’s portfolio as a matter of “utmost priority”.
Lukonga did not respond to a request for comment by the time publication.
These developments surfaced following a high-level meeting held last Friday between Deputy Prime Minister Natangwe Ithete, the Nida board, and Lukonga.
During the meeting, Ithete ordered the suspension of all strategic decisions and plans by the parastatal until further notice.
On Tuesday, Ithete directed the board to terminate Lukonga’s secondment to Nida.
Addressing parliament yesterday, Ithete said he would return to the House next week as the answers he had prepared did not reflect the current realities at Nida.
Long-serving executive Philip Namundjebo has since taken over as acting CEO.
“Following consultations with the Nida board and management, it became evident that the policy direction pursued by Nida under the current acting CEO is not conducive to the achievement of the objectives of Nida,” reads a letter to the board, seen by Namibian Sun.
New finance manager
Lukonga, who serves as the chief operating officer of the Namibia Investment Promotion and Development Board (NIPDB), was seconded to Nida in March 2024 for a 12-month term, with the endorsement of former finance minister Ipumbu Shiimi.
However, the then trade minister, Lucia Ipumbu, had rejected Lukonga’s secondment.
Among Lukonga’s controversial decisions was the appointment of Julius Nghikevali, a former Deloitte & Touche partner, as Nida’s finance manager on a salary of N$160 000 per month.
Nghikevali was appointed in November last year to replace Jeremiah Ntinda, who had been suspended in September 2024 for alleged misconduct.
Lukonga was also in the process of hiring five additional executives - four on five-year contracts and one on a two-year term.
The targeted positions included strategic executives for human capital; investment and industrialisation; agro-business; commercial and infrastructure; and a manager of assets and facilities management.
Despite ministerial directives to halt recruitment, Nida reportedly went ahead with interviews for these roles last week.
Monasa deal
Lukonga’s exit has also been linked to the controversial dealings involving Monasa Advisory & Associates - a company owned by Jason Kasuto, a known associate of former Nida board chairperson Lionel Matthews and reportedly close to Lukonga.
As reported by Namibian Sun last month, the firm stands to make a potential N$27 million profit from implementing a turnaround strategy for Nida - a strategy it originally developed under a separate N$2.8 million contract.
The turnaround contract awarded to Monasa includes raising funds amounting to N$550 million for Nida, with Monasa charging a rate of between 3% and 5% in commission.
This means the company owners could pocket close to N$27 million from the deal if the commission is calculated at the upper end of the scale at 5%.
The arrangement has raised concerns over a possible conflict of interest, with the same firm both designing and now implementing the strategy through two different contracts.
Sources have also questioned Matthews’ ties to current Nida board chairperson Sebby Kankondi. Both men served at Nedbank Namibia - Matthews as managing director and Kankondi as board chairperson, though not concurrently.
In parliament yesterday, Prime Minister Elijah Ngurare revealed that he had written a letter demanding answers about Monasa’s latest contract at Nida. Namibian Sun understands the letter was addressed to Secretary to Cabinet Emilia Mkusa, who is expected to escalate it through the appropriate channels.
Unapproved strategic business plan
Lukonga was also criticised for implementing an Integrated Strategic Business Plan (ISBP) that had not been approved by the Ministry of Finance and Public Enterprises.
In a letter dated 23 April 2025, finance minister Erica Shafudah responded to a request by Kankondi for ISBP approval, stating that the submitted plan did not meet the required criteria.
She directed Nida to align its strategy with ministry guidelines, diversify income streams, and invest in remaining key assets to support the country’s industrialisation agenda.
Shafudah further advised that Nida refocus its resources on priority sectors, implement a robust monitoring and evaluation framework, and submit quarterly progress reports to the ministry.
Despite this, Lukonga went ahead with launching the plan in May this year, announcing an ambitious goal of creating 35 000 jobs over the next five years.
Acting CEO’s task
Namundjebo has been tasked with working closely with the line ministry and the board to realign Nida’s operations with government policy objectives and to swiftly implement the ministry’s infrastructure work programme.
He is also expected to address widespread concerns across Nida’s industrial and SME parks, office buildings, housing projects, and other initiatives under the agency’s portfolio as a matter of “utmost priority”.
Lukonga did not respond to a request for comment by the time publication.
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