ACC still probing SSC land deal
26 March 2019 | Crime
The Anti-Corruption Commission (ACC) investigation into the alleged dubious purchasing of land by the Social Security Commission (SSC) is still ongoing, despite plans to have had it wrapped up by December last year.
The deal under investigation is the purchase of erf 8451, for which the SSC overpaid to the tunes of millions of dollars.
This is according to an audit report compiled by BDO Namibia in 2016.
The land in question was bought from Ambrosius Tierspoor, an executive at the National Road Safety Council, for N$23 million.
Tierspoor had bought the land from Llewellyn Anthony for N$16 million. ACC spokesperson Josefina Nghituwamata said the investigation had not yet been concluded.
“The investigation in this matter is still ongoing. Hence, there is not much information available at this stage,” she said.
SSC CEO Milka Mungunda was unavailable for comment, while public enterprises minister Leon Jooste said he had not yet briefed on the investigation. Jooste's ministry had investigated the matter and then handed it over to the ACC.
The BDO report noted that the SSC had overpaid for the land.
“We noted that the commission overpaid for erf 8451 as it paid N$8.9 million more than the value determined by the valuators appointed by the seller (Tierspoor),” the report said. In addition, BDO found that the valuation of erf was done for a third-party, in this case Tierspoor, and not for the commission.
“We also identified the involvement of (a) middleman in the transaction and a breach of the investment policy of SSC.”
The auditors also found that the SSC had failed to appoint reputable valuators.
“The commissioners are mandated to safeguard the commission's assets and make business decisions that are in the interest of the commission,” the report said. BDO's report said that the SSC should have a list of accredited property valuators to call on when the agency buys property, in line with its investment policy.
The SSC intends to build its new headquarters on the two city plots, measuring a combined 3 000 square metres.
OGONE TLHAGE
The deal under investigation is the purchase of erf 8451, for which the SSC overpaid to the tunes of millions of dollars.
This is according to an audit report compiled by BDO Namibia in 2016.
The land in question was bought from Ambrosius Tierspoor, an executive at the National Road Safety Council, for N$23 million.
Tierspoor had bought the land from Llewellyn Anthony for N$16 million. ACC spokesperson Josefina Nghituwamata said the investigation had not yet been concluded.
“The investigation in this matter is still ongoing. Hence, there is not much information available at this stage,” she said.
SSC CEO Milka Mungunda was unavailable for comment, while public enterprises minister Leon Jooste said he had not yet briefed on the investigation. Jooste's ministry had investigated the matter and then handed it over to the ACC.
The BDO report noted that the SSC had overpaid for the land.
“We noted that the commission overpaid for erf 8451 as it paid N$8.9 million more than the value determined by the valuators appointed by the seller (Tierspoor),” the report said. In addition, BDO found that the valuation of erf was done for a third-party, in this case Tierspoor, and not for the commission.
“We also identified the involvement of (a) middleman in the transaction and a breach of the investment policy of SSC.”
The auditors also found that the SSC had failed to appoint reputable valuators.
“The commissioners are mandated to safeguard the commission's assets and make business decisions that are in the interest of the commission,” the report said. BDO's report said that the SSC should have a list of accredited property valuators to call on when the agency buys property, in line with its investment policy.
The SSC intends to build its new headquarters on the two city plots, measuring a combined 3 000 square metres.
OGONE TLHAGE
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