Akwenye relief as court stops auction

The nasty public spat between businessman Nelson Akwenye and his celebrity wife Ilke, made a turn in the High Court in Windhoek yesterday as he sought to interdict her from selling cars and properties registered in her name, but which he is paying for.Akwenye and Ferusa Capital brought the urgent application against his wife Ilke, Squirrel Investments Twenty (Pty) Limited, Namagri Properties and Aucor Namibia.Akwenye, a former Brave Warriors, Tigers and Civics footballer, got an interim order restraining his estranged wife from selling two erven in Auasblick, 431 and 296, as well as her shareholding in Squirrel Investments, and another property, Erf 288 in Evelyn Street, Windhoek. He also succeeded in preventing her from auctioning off a luxury, customised Mercedes Benz G Wagon, a Range Rover Sport, Range Rover Evogue, an Isuzu bakkie and another property at Erf 857 in Kleine Kuppe's Extension 1 in Windhoek.In fact the auction had started and the hammer had already fallen on three luxury vehicles.The G Wagon was 'sold' for N$1.7 million, while the Range Rover Evogue went for N$690 000.The Range Rover Sport went under the gavel for N$580 000.Ilke has until Valentine's Day to give reasons why the interim order should not be made final.Ferusa Capital CC, the second applicant in the matter, specifically related to the property in Kleine Kuppe, wants the property to be registered in its name. The property is registered in Ilke's name, under Squirrel Investments.Akwenye, in his affidavit, said he paid so that Ferusa Capital could settle the loan in full in the amount of N$1.6 million on 16 July 2016 and also paid for the development of the property to the tune of N$3.15 million.The company also provided this property as unencumbered security to the SME Bank for the loan in the amount of N$7 million which was granted.“Therefore the applicant seeks an order transferring the asset into their names,” Akwenye argued.He added that the order will be sought against the backdrop of him releasing the wife from any liability which she incurred by virtue of her role as her husband's nominee.The two were married in March 2014 out of community of property and they are currently estranged.Akwenye says Ilke accused him of domestic violence after posting images of the alleged abuse on her social media profiles and successfully obtained a protection order on 10 November 2017.“I have appealed the protection order and also launched a review application,” he told the court.He admitted that the marriage had broken down irrevocably and that his wife has indicated, though he is not yet served with a summons or notification of the action that she is in the process of instituting divorce proceedings.During the marriage he says he was and continues to be an entrepreneur involved in several business ventures to which there is a fair amount of risk.“To protect our core asset holdings from any risk of possible future failures, we agreed that our properties and vehicles be registered in her name. However, I would be the beneficial owner and she would essentially be my nominee,” he explained.He told the court he paid all monthly instalments in respect of the various assets and that she was in no way able to sustain the monthly financial obligation.“As such, I would make sure that I directly pay the financial institutions or provided her with sufficient funds in order to do so,” he said.In terms of Erf 228 in Evelyn Street, his wife purchased it as his nominee and it was financed through Standard Bank with a total loan liability of N$582 708. Since 14 October 2014, Akwenye said, he paid N$180 724 on that loan and N$210 000 is still outstanding.He told the court that on the Kleine Kuppe property, he had paid the initial deposit of N$1.2 million and the remainder of the N$5 million purchase price was financed through Standard Bank in the amount of N$3.8 million.During October 2015 until October 2017 he made payments of N$639 726 into that loan and spent additional N$309 460 on improvements on the property. The payments are seemingly in arrears and Standard Bank has foreclosed.He is the registered owner of Range Rover Sport and the outstanding amount owed to Bank Windhoek in respect of the vehicle is N$651 107.Akwenye further said he is the registered owner of a Range Rover Evogue which was purchased in August 2014 and he had paid N$240 000 together with additional amount of N$67 029 for extras. The outstanding balance owed is N$536 551.The Isuzu bakkie was purchased through Standard Bank by his estranged wife acting as his nominee in May 2014 and he paid the deposit of N$37 000. He also paid instalments from May 2014 to November 2017 in the amount of N$260 241. Akwenye added that as at November the outstanding balance was N$217 683. FRED GOEIEMAN

Akwenye relief as court stops auction

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Namibian Sun 2025-10-27

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Akwenye relief as court stops auction

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Namibian Sun 2025-10-27

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