ACC still probing SSC land deal
ACC still probing SSC land deal

ACC still probing SSC land deal

Ogone Tlhage
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

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Namibian Sun 2024-03-29

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European Championships Qualifying: Millwall FC 1 vs 1 West Bromwich Albion | Bristol City 1 vs 0 Leicester City English Championship: Millwall FC 1 vs 1 West Bromwich Albion | Bristol City 1 vs 0 Leicester City Katima Mulilo: 19° | 36° Rundu: 19° | 29° Eenhana: 19° | 29° Oshakati: 21° | 30° Ruacana: 20° | 33° Tsumeb: 19° | 29° Otjiwarongo: 16° | 29° Omaruru: 19° | 32° Windhoek: 17° | 29° Gobabis: 17° | 30° Henties Bay: 16° | 20° Wind speed: 22km/h, Wind direction: S, Low tide: 11:22, High tide: 05:24, Low Tide: 23:26, High tide: 17:46 Swakopmund: 16° | 17° Wind speed: 24km/h, Wind direction: SW, Low tide: 11:20, High tide: 05:22, Low Tide: 23:24, High tide: 17:44 Walvis Bay: 16° | 22° Wind speed: 27km/h, Wind direction: SW, Low tide: 11:20, High tide: 05:21, Low Tide: 23:24, High tide: 17:43 Rehoboth: 19° | 30° Mariental: 23° | 34° Keetmanshoop: 24° | 35° Aranos: 22° | 33° Lüderitz: 15° | 28° Ariamsvlei: 24° | 35° Oranjemund: 14° | 25° Luanda: 27° | 28° Gaborone: 20° | 32° Lubumbashi: 17° | 26° Mbabane: 16° | 21° Maseru: 11° | 29° Antananarivo: 16° | 27° Lilongwe: 17° | 27° Maputo: 20° | 28° Windhoek: 17° | 29° Cape Town: 17° | 28° Durban: 20° | 24° Johannesburg: 16° | 24° Dar es Salaam: 26° | 32° Lusaka: 20° | 30° Harare: 16° | 29° Currency: GBP to NAD 23.8 | EUR to NAD 20.35 | CNY to NAD 2.61 | USD to NAD 18.87 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.33 | EGP to NAD 0.39 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.77 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.39 | USD to AOA 832.63 | USD to BWP 13.71 | USD to EGP 47.35 | USD to KES 130.98 | USD to NGN 1303.34 | USD to ZAR 18.88 | USD to ZMW 25.01 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74536 Up +0.85% | Namibian Stock Exchange (NSX) Overall Index 1528.69 Up +0.84% | Casablanca Stock Exchange (CSE) MASI 12986.94 Up +0.04% | Egyptian Exchange (EGX) 30 Index 27559.35 Down -2.36% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - 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