Nepotism erodes social fabric
Nepotism erodes social fabric

Nepotism erodes social fabric

Swanu has accused the ruling party of corruptly appointing incompetent people to top positions.
Jemima Beukes
JEMIMA BEUKES



Appointing competent and open-minded Namibians in senior positions, coupled with a thorough empowerment process of the Namibian youth, is necessary to fast-track equality and counter patronage, nepotism, corruption and incompetence.

These are the sentiments of South West Africa National Union (Swanu) president Tangeni Iijambo, who believes that the social fabric of our society is being eroded by the policies and practices of those in power.

“The tendency of the ruling party corruptly employing their incompetent and incapable kind at the expense of capable others directly violates the notion of ‘One Namibia, One Nation’.

“Nepotism and tribalism ensue. Praise singing and banking desks as well as kind of blindly supporting each other while the evidence is crystal clear about African failed states and or poor governance due to benefitting from the status quo are not and will never be in the interest of the majority suffering Namibians, or Africans for that matter,” he said.

Iijambo said this in response to the recent announcement by Prosecutor-General Martha Imalwa that over N$600 million had been lost by the Government Institutions Pension Fund (GIPF)

Imalwa said although the GIPF case had been opened as far back as 2009, investigations into the matter only started in early 2012.

Over N$600 million was swindled from the GIPF via loans granted through its defunct Development Capital Portfolio (DCP) to several local companies, some of whom had little or no business track record.

The DCP operated from 1996 to 2006.

Despite writing off over N$600 million as bad debt, the GIPF was reportedly able to make a profit of N$146 million from the portfolio.

According to Imalwa, the investigations focused on 20 companies and her office declined to prosecute 18 firms that had been implicated.

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Namibian Sun 2024-05-18

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19%