Fishrot duo pay farm loan

After last week’s court order authorising Bank Windhoek to repossess farms belonging to the two Fishrot accused, the men quickly made amends.

04 November 2020 | Crime



Fishrot accused James Hatuikulipi and Sacky Shanghala have made a payment on adjacent farms on which they owe Bank Windhoek in the region of N$11 million.

The duo risked losing the two farm portions after falling behind on payments since June.

It is on these farms the two men were arrested on 27 November last year.

It is not clear how the payment was made after the Bank of Namibia's Financial Intelligence Centre (FIC) had frozen the two men’s bank accounts last November.

The Bank of Namibia yesterday said the freezing of the accounts only lasted 10 days, in accordance with regulations.

No knowledge

The Anti-Corruption Commission (ACC) said it is unaware of what transactions the Fishrot accused are carrying out while awaiting trial.

ACC director-general Paulus Noa said the agency had compiled a list of assets owned by all Fishrot accused persons, which it had handed over to the Office of the Prosecutor-General.

“I have no information of such payments being made… that information has not been brought to my attention.

The ACC is not responsible for applying for the seizure of assets, Noa explained.

“That power lies with the Office of the Prosecutor-General in terms of the Prevention of Organised Crime Act. From our side, we cannot say they cannot make payments. The assets are still theirs, even if they are restrained.

Prosecutor-general Martha Imalwa did not respond queries related to the payment made by the duo and the close corporation as well as whether an application had been made for the seizure of assets.

It is also not clear at this stage how much the pair has paid to avoid having the farm portions being repossessed.

Rush against repossession

An order had been granted by judge Collins Parker last Friday to have the farm repossessed to enable the bank to recover its money.

The bank had also sought to have the farm portions repossessed after both Hatuikulipi and Shanghala failed to oppose its intended actions.

The claim against the defendants was filed at the court on 25 September.

Million-dollar loan

A document filed at the Windhoek High Court stated that Bank Windhoek sued Shanghala and Hatuikulipi as well as the close corporation Olea Investments Number Nine, in which they are partners, after they failed to keep up with the repayment on a N$10.1 million loan granted in April 2017, The Namibian reported earlier this week.

In terms of its loan agreement, Olea Investments had to repay the loan through 20 annual instalments of about N$1.3 million each.

The close corporation was in arrears with about N$1.2 million by the end of July, and currently owes Bank Windhoek about N$11 million, the bank said.

The bank also informed the court that Shanghala and Hatuikulipi bound themselves as surety for the repayment of the loan.

The two face charges related to money-laundering and using their positions for self-gratification, and will make a court appearance for two parallel criminal cases on 14 December.


In court papers last year, Hatuikulipi had questioned why his banking accounts had been frozen by former finance minister Calle Schlettwein.

The action by Schlettwein led to a N$150 million decline in his bank accounts. According to Hatuikulipi, Schlettwein had no legal right to freeze his assets.

He added that the blocking and/or freezing of bank accounts infringes and violates not only on the right to property, but the right to dignity as well.

Staff go unpaid

Hatuikulipi added that as a result of this violation, his staff members could not be paid their monthly salaries. In the papers, he said entities owned by himself and Otuafika Logistics employed 22 people.

He also lamented the fact that his domestic staff could not be paid in November 2019.

Other concerns were his mortgage bonds, rates and taxes as well as water connections for properties he leases out to tenants.

Similar News


Man kills, buries his partner

1 day - 27 November 2020 | Crime

TUYEIMO HAIDULAOKATANAA 36-year-old man has been arrested in connection with a body discovered on Wednesday at Omayanga village in the Okatana Constituency, Oshana Region. The...

Two women killed by their partners

4 days ago - 24 November 2020 | Crime

ELLANIE SMITWINDHOEKTwo women were murdered by their partners last week, one strangled to death and the other's body burnt beyond recognition.One of the men that...

'Expert' jewellery thief nabbed

4 days ago - 24 November 2020 | Crime

TUYEIMO HAIDULAOSHAKATIOshana police say the man arrested at King Kauluma village in the Oshikoto Region for allegedly breaking into Sterns jewellers in Windhoek's Grove Mall...

Five wildlife products seized

1 week ago - 19 November 2020 | Crime

ELLANIE SMITWINDHOEKA Namibian man who illegally hunted two warthogs and an impala was sentenced to five months in prison or a N$6 000 fine last...

Slain fisherman shot five times

1 week ago - 18 November 2020 | Crime

KENYA KAMBOWE IMPALILA ISLANDFive bullets were retrieved from the body of one of...

Shannon’s boyfriend threatened

1 week ago - 17 November 2020 | Crime

ELLANIE SMIT WINDHOEKA group of people allegedly threatened to kill the boyfriend of murder victim Shannon Wasserfall in Kuisebmond on Friday.It is...

Serial rapist strikes again

1 week ago - 17 November 2020 | Crime

LEANDREA LOUWWALVIS BAYThe Erongo police are investigating a third case of housebreaking and rape after a woman (28) was raped at gunpoint in Walvis Bay...

Ya monika ondjo moshipotha shekwatonkonga

1 week ago - 17 November 2020 | Crime

NAMPA OVENDUKAAanyasha yatatu mboka ya kala taya tamanekelwa oshipotha shekwatonkonga yomukiintu moGobabis oomvula ne dha piti oya monika ondjo.Kingsley Balzer (19), Fritz Naobeb (19), oshowo...

Shannon a fumbikwa pasimaneko

1 week ago - 17 November 2020 | Crime

LEANDREA LOUWWALVIS BAY Nakusa Shannon Wasserfall (21) okwa fumbikwa mondoolopa yaMbaye mOlyomakaya ga piti, kengathithi lyaalilisa mboka ye mu pe esimaneko lya hugunina. Wasserfall okwa...

Gang-rape accused found guilty

1 week ago - 16 November 2020 | Crime

NAMPA WINDHOEKThree teenagers accused of raping a woman at Gobabis four years ago have been found guilty.Kingsley Balzer (19), Fritz Naobeb (19), and Norman Witbeen...

Latest News

Kenya's economic growth to rebound...

1 day - 27 November 2020 | Economics

Duncan MiririKenya's economic growth is expected to bounce back next year, the World Bank said on Wednesday, as it emerges from a projected decline in...

Man kills, buries his partner

1 day - 27 November 2020 | Crime

TUYEIMO HAIDULAOKATANAA 36-year-old man has been arrested in connection with a body discovered on Wednesday at Omayanga village in the Okatana Constituency, Oshana Region. The...

Swapo holds on by fingernails

1 day - 27 November 2020 | Politics

TOIVO NDJEBELAWINDHOEKSwapo continued from where it left off with its downward spiral in last year's election by having its hold onto key constituencies and local...

Iipinge taps out

1 day - 27 November 2020 | Politics

JEMIMA BEUKESWINDHOEKOutgoing Walvis Bay Urban constituency councillor Knowledge Iipinge, who has conceded to Independent Patriots for Change (IPC) candidate Florian Donatus Tegako, says his work...

Nigerians to slide into further...

1 day - 27 November 2020 | Economics

Camille Malplat and Louise Dewast More than 200 million Nigerians will slide further into poverty as the coronavirus pandemic has sent oil prices tumbling and...

Hit the ground running

1 day - 27 November 2020 | Opinion

At the time of penning this down yesterday, the tabulation of election results was still under way. It didn’t look like a good day at...

Auto Sueco gunning the future...

1 day - 27 November 2020 | Politics

OGONE TLHAGEwindhoekFrom its humble beginnings in 2004, Auto Sueco Namibia is now a reckoned force in the Extra heavy and heavy commercial vehicle market with...

Ivory Coast raises 1 billion...

1 day - 27 November 2020 | Economics

Ivory Coast's Eurobond sale this week, sub-Saharan Africa's first of the pandemic era, raised 1 billion euros (US$1.19 billion) and was five times oversubscribed, the...

Open defecation remains a problem

1 day - 27 November 2020 | Health

ELLANIE SMITWINDHOEKIt is estimated that 14% of Namibians living in urban areas practise open defecation, while 77% of people living in rural areas do the...

Load More