Agribank may seize Zaire's farm

04 December 2018 | Justice

Agribank was yesterday granted a default judgment of N$3 666 716.44 as well as an order declaring farm Rustig in the Khomas Region as executable.

The judgment was against Daniel Ndjai Gerson Zaire, listed as the deputy director for the electricity division in the mines and energy ministry.

Zaire had bought the farm on 13 December 2002 for N$2 259 000 with a loan from Agribank. According to the bank's papers, Zaire did not pay a single instalment.

“He has failed to repay any annual instalments since 2003 when same became due and payable,” the bank told the court.

The government was originally listed as the second defendant in the matter. According to Agribank, Nangolo Mbumba, as finance minister in 2002, had, on 27 November of that year, issued a guarantee to the tune of N$938 000, binding itself as co-principal debtor to Zaire's loan.

The government filed an intention to defend and Agribank later withdrew the action against the government and proceeded solely against Zaire.

The bank brought its action on 24 August this year, shortly after another judgment was issued by Judge Collins Parker in the Windhoek High Court on 16 May. In that matter, PDS Holdings (BVI) Limited, had sued Zaire for N$3 million. The matter arose from a CC Zaire had established, Omaue Trading, which was in the business of selling exclusive prospecting licences (EPLs). The EPL in question, EPL 4433, was not for the exploration of nuclear fuels which was the sole interest of PDS Holdings. They had however, advanced N$3 million of which N$1.5 million was a “loan” to Zaire on 13 December 2010. By April of the next year, it was learned that the licence was limited.

The sale of that EPL was picked up by Corruption Tracker and there were more questions than answers at the time. A family member of Zaire's was arrested on charges of fraud early in 2014 relating to the sale of the EPL to PDS.

PDS, however, turned to the courts and pursued their money. They were issued with an order on 13 March 2014 directing Zaire to pay N$3 million with 20% interest per year. Following this, a writ of execution was granted after no movable assets could be found to pay the debt, which declared farm Rustig as executable.

Agribank appears to have been none the wiser at the time as it took no action.

The auction was advertised in the media and the farm was sold for N$20.5 million to Grace Investments 121 and 122 on 14 July 2015.

However, the deputy sheriff had not offered the land to the government prior to its sale. The sale could thus not proceed and PDS again turned to the court. Judge Parker ruled against the company, which operates from the British Virgin Islands.

The deputy sheriff was ordered to offer the land to the government, which had 60 days to respond and if not interested in the land, to issue a waiver without delay. That was on 16 May of this year. Agribank filed its claim on 24 August.

No further relief has been sought by PDS and the matter is listed as finalised on the justice ministry's website.

Interestingly, on 7 May 2015, then agriculture minister Alpheus !Naruseb published 978 names, of which 810 were listed as individuals, for the exemption of agricultural tax on agricultural land. Besides several other high-powered names, Zaire was exempted from paying land tax on his farm.


Similar News


Boyfriend appears for Unam student's murder

14 hours ago | Justice

Paulus Nghipulenga (27) has appeared in the Oshakati Magistrate's Court for the murder of his girlfriend on Sunday evening at Ongwediva. She was...

Two in court after record dagga bust

1 day - 19 February 2019 | Justice

ILENI NANDJATO Northern businessmen Paavo Hatutale (47) and co-accused Nicodemus Shekunyenge (21) appeared before the Ohangwena Magistrate’s Court yesterday in connection with...

Child rapist gets 35 years

2 days ago - 18 February 2019 | Justice

The Swakopmund Regional Court has imposed a long sentence on a man arrested in 2014 for raping four minor girls at the coastal town. ...

Explosive court battle looms

2 days ago - 18 February 2019 | Justice

The government has indicated that it will defend allegations by the Popular Democratic Movement (PDM), which has dragged the government to court over the sale...

Drug dealer sentenced to 12 years

5 days ago - 15 February 2019 | Justice

The Oshakati Regional Court has sentenced an Angolan man to an effective 12 years imprisonment for dealing in cannabis, illegally entering Namibia through an undesignated...

Heat turned up in vetkoek fight

6 days ago - 14 February 2019 | Justice

YANNA SMITH Following an application brought before the High Court on 6 December last year against Bokomo Namibia, Namib Mills has filed...

Businessman acquitted of rape

6 days ago - 14 February 2019 | Justice

The Oshakati Regional Court has acquitted 39-year-old businessman Sindano Hango of rape.The court found there was not enough evidence to convict Hango, who was accused...

Agribank claims N$10 million from Nambahu

1 week ago - 13 February 2019 | Justice

ELLANIE SMIT Agribank is suing the deputy minister of labour, Tommy Nambahu, for more than N$10.6 million in three claims.The bank...

Huang's money woes deepen

1 week ago - 13 February 2019 | Justice

Chinese businessman and tax-fraud accused Jack Huang's money woes show no sign of abating if court documents are anything to go by.Following his N$3.7-million-dollar lawsuit...

Ulenga couple settle with Agribank

1 week ago - 12 February 2019 | Justice

In the High Court yesterday before Judge Herman Oosthuizen, former Congress of Democrats leader Ben Ulenga, along with his wife Johanna, entered into a settlement...

Latest News

Boyfriend appears for Unam student's...

14 hours ago | Justice

Paulus Nghipulenga (27) has appeared in the Oshakati Magistrate's Court for the murder of his girlfriend on Sunday evening at Ongwediva. She was...

Shaningwa humbled

14 hours ago | Politics

The Swapo leadership has ordered Swapo secretary-general Sophia Shaningwa to halt the recall of three Swapo councillors at Rundu, pending the outcome of a politburo...

First Lady enters shack fray

14 hours ago | Infrastructure

First Lady Monica Geingos has reached out to experts to bring their ideas on how to solve the housing crisis to the attention of policymakers....

Vehicle sales hit another speed...

14 hours ago | Economics

Jo-Maré Duddy – The 666 new vehicles that were sold in Namibia last month was the poorest January sales figure since 2006 and the lowest...

Marenica executes Namibian strategy

14 hours ago | Business

Jo-Maré Duddy - Marenica Energy Ltd has lodged nine exclusive prospecting licences (EPLs) with the ministry of mines and energy in Namibia over the past...

Africa Briefs

14 hours ago | Economics

SA needs to build confidence in power sectorSouth Africa needs to invest more to rebuild confidence in its ability to supply power, its energy minister...

Taxed to death

14 hours ago | Opinion

In their report titled ‘Quarterly Economics and Fixed Income 1Q 2019: What Lies Ahead in 2019?’, Simonis Storm Securities (SSS) said during recessions, among the...

TradePort gets manganese green light

14 hours ago | Environment

The environment ministry has issued TradePort Namibia, one of the South African companies planning to export manganese ore through the port of Lüderitz, an environmental...

Low Orange River threatens grape...

14 hours ago | Agriculture

The dangerously low water level of the Orange River could have a devastating impact on Namibia's production of table grapes, an important export product earning...

Load More