NDC in the dark about dates, grapes
The Namibia Development Corporation (NDC) does not know how much date palms and grapes were sold over a four-year period, according to an audit report prepared by the auditor-general's office.
It is also in the dark about the value of its grape vines and date palms.
The NDC has approximately 269 hectares of land on which it farms dates, grapes, pecan nuts, prickly pears and pomegranates.
In the audit report, no information was also given on sales activities regarding pecan nuts, prickly pears or pomegranates.
The NDC operates two farms for these purposes - the Naute irrigation project situated 50 kilometres south-west of Keetmanshoop and the Eersbegin date project, situated 90 kilometres from Khorixas.
“The fair value of grape vines and date palms were not determined as at 31 March 2017, 2016, 2015 and 2014. Fair value is the amount for which the assets could have been sold between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arm's length transaction at the valuation date,” the report said.
It also noted the NDC held approximately 17 840 cattle as at 31 March 2017, valued at about N$82 million.
Namibia Industrialisation Development Agency (NIDA) acting executive director Uparura Kuvare told Namibian Sun upon enquiry that a valuation had since been conducted to assess the value of its date palms and grape vines sold.
NIDA is to assume responsibility for the NDC and the Offshore Development Company's functions and assets.
“An audit identified the issue that the produce had not been evaluated. As we speak, the evaluation is being added to the books.
We have a valuation report on the two farms, Naute and Eersbegin,” he said.
The auditor-general's report, Kuvare explained, was done prior to the NDC carrying out its own evaluation.
“The valuation was carried out after the auditor-general's findings. In the interim we have carried out our own valuations,” he added.
The NDC in February extended an expression of interest for the evaluation of its biological assets.
OGONE TLHAGE
It is also in the dark about the value of its grape vines and date palms.
The NDC has approximately 269 hectares of land on which it farms dates, grapes, pecan nuts, prickly pears and pomegranates.
In the audit report, no information was also given on sales activities regarding pecan nuts, prickly pears or pomegranates.
The NDC operates two farms for these purposes - the Naute irrigation project situated 50 kilometres south-west of Keetmanshoop and the Eersbegin date project, situated 90 kilometres from Khorixas.
“The fair value of grape vines and date palms were not determined as at 31 March 2017, 2016, 2015 and 2014. Fair value is the amount for which the assets could have been sold between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arm's length transaction at the valuation date,” the report said.
It also noted the NDC held approximately 17 840 cattle as at 31 March 2017, valued at about N$82 million.
Namibia Industrialisation Development Agency (NIDA) acting executive director Uparura Kuvare told Namibian Sun upon enquiry that a valuation had since been conducted to assess the value of its date palms and grape vines sold.
NIDA is to assume responsibility for the NDC and the Offshore Development Company's functions and assets.
“An audit identified the issue that the produce had not been evaluated. As we speak, the evaluation is being added to the books.
We have a valuation report on the two farms, Naute and Eersbegin,” he said.
The auditor-general's report, Kuvare explained, was done prior to the NDC carrying out its own evaluation.
“The valuation was carried out after the auditor-general's findings. In the interim we have carried out our own valuations,” he added.
The NDC in February extended an expression of interest for the evaluation of its biological assets.
OGONE TLHAGE
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