One year later, Nored CEO remains suspended on full pay

It has been 14 months since Nored CEO Fillemon Nakashole was suspended with full pay.The company’s board chairperson, Johannes Uushini, has confirmed that the disciplinary process is still ongoing.Nakashole was suspended last year alongside two other executives, Nored’s chief financial officer, Ndapandula Tshitayi and the executive manager for technical services, Petnen Frans.However, yesterday, Uushini informed Namibian Sun that Tshitayi is no longer an employee of Nored.He refused to shed light on whether Tshitayi was dismissed or resigned as a result of the disciplinary process.Frans has resumed work, Uushini added. “She [Tshitayi] is no longer with Nored and Frans has resumed work a long time ago,” Uushini said.Regarding Nakashole, Uushini said the investigations were completed prior to his suspension and that the disciplinary process is still ongoing.Nakashole was suspended in early April 2024, just days after a Facebook post went viral alleging that he had accepted a bribe from a company doing business with Nored.It remains unclear whether the bribery claims were among the reasons for his suspension.Toivo Shovaleka has been the acting CEO since April last year.In the redThe company has been playing its cards close to the chest regarding the suspensions.Numerous attempts to obtain comment from Nakashole over the past few months have also proven futile, as he referred Namibian Sun to the company for comment.Meanwhile, in May last year, Namibian Sun reported that Nored’s finances were allegedly in dire straits, emanating from alleged insider trading, bribery, uncontrolled spending, leaking of confidential information, abuse of company vehicles and the use of counterfeit vehicle parts, which had drained the finances of the country’s biggest regional electricity distributor.Documents seen at the time indicated that in January, Nored’s executives had to scramble to raise N$8.9 million within three days to pay an outstanding balance on the company’s NamPower account.This came less than two months after the board had sanctioned executives to obtain an N$4 million bank facility on 11 November 2023 to pay salaries.Falling apart Extensive internal communications reported on by Namibian Sun last year, described how the use of counterfeit car parts was placing pressure on Nored’s finances, limiting its ability to fund important maintenance and refurbishment projects.The company attributed the "extremely high" maintenance cost of its fleet to poor-quality parts used by service providers.In one instance, it was found that Northern Electric and Mechanical Auto Repairs reportedly charged Nored N$27 358 for the supply and installation of a Toyota GD6 2.8 power steering rack in 2020.In another quote, Nored was asked to pay N$12 000 for the same job.This despite the average price from verified Toyota dealer agents that supply the parts to merchants being N$30 000 for the power steering rack alone at that time. This reduced amount of N$12 000 was allegedly a counter-quotation to another service provider, who had quoted N$43 000.kenya@nmh-hub.com.na

One year later, Nored CEO remains suspended on full pay

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Namibian Sun 2025-06-26

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One year later, Nored CEO remains suspended on full pay

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Namibian Sun 2025-06-26

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