SPYL takes aim at PG

The Swapo Youth League has asked for a review of the prosecutor-general's decision regarding GIPF.

11 September 2019 | Politics

The Swapo Party Youth League (SPYL) says it will not rest until justice is served in the Government Institutions Pension Fund (GIPF) saga, in which millions were lost.

It has also called for a commission of inquiry to be established.

The youth wing has condemned Prosecutor-General Martha Imalwa's recent revelation that there is no hope of recovering the lost N$600 million and that she had declined to prosecute 18 of the 20 firms linked to the GIPF saga.

The SPYL has called for Imalwa's decision not to prosecute to be reviewed by a court or by the Judicial Service Commission (JSC).

They further want a judge to be appointed to hold an inquiry into the matter.

“We cannot tolerate the choreographed utterances that there is no evidence or that the kingpins implicated in the GIPF dossier are dead. Some may be dead, but some are around, (and are) alive and kicking.

“We are calling for the appointment of a judge for an inquiry into the matter, it will be a betrayal of our consciousness to let bygones be bygones,” as statement issued by SPYL secretary for information, Gerson Dumeni, said.

“We need to stand up for our country. In the absence of any checks and balances, the youth assumes that role. It appears that the PG is properly compromised, but not at the expense of our generation; we will not betray Namibia, neither this generation,” Dumeni said.

The statement further said Imalwa's decision is “very sloppy” and contradicts President Hage Geingob's call that 2019 would be the year of accountability.

The youth wing also took aim at the PG's term of office, saying it should be limited to 10 years.

Imalwa was first appointed as PG in 2003 for of 10 years, before her mandate was renewed in 2013, this time for seven years.

“The term of the office of the PG indeed has to be controlled. We will therefore be justified to go to parliament and ask for a change to the PG's term, as it must be limited to 10 years. The office is competent, but individuals must be given a timeframe to address issues of public interest,” the statement added.

Meanwhile, CEO and principal officer of the GIPF, David Nuyoma, said on Monday the pension fund had given the police and forensic investigations nearly 200 ledger files dealing with the Development Capital Portfolio (DCP) loans. “We want this matter to be closed and we are still willing to provide information on whatever file,” Nuyoma said.

He said the GIPF has learnt hard and valuable lessons from the DCP loan scheme and has since “strengthened on the weak investment governance that prevailed at the time”.

Not a single director, board of trustee or defaulting DCP lender has so far been brought to book.

Nuyoma said from these lessons, subsequent unlisted investment programmes are now ring-fenced and managed by professional managers. The DCP loans were taken out during 1995 to 2005 when the GIPF disbursed a total of N$661.2 million to 21 companies by way of equity and debt.

Nuyoma said some of the companies experienced difficulties, either through poor management, poor governance and negative changes in the business environment.

In 2005 the GIPF put a moratorium on the loan scheme, to ensure proper divestiture of the 21 companies, which was followed by a number of investigations into the DCP.

To date, most of the DCP investments have been disposed of or written off, with the exception of three performing loans.

KENYA KAMBOWE

Similar News

 

N$250k donation was from Kalahari Holdings - Nekongo

3 days ago - 04 August 2020 | Politics

Kenya Kambowe RUNDUSwapo youth wing leader Ephraim Nekongo has clarified that a donation of N$250 000, spent on repairing chairs and...

Familiar faces surface at IPC

4 days ago - 03 August 2020 | Politics

OGONE TLHAGEWINDHOEKFamiliar faces have surfaced in the newly launched Independent Patriots for Change (IPC), which held its founding national convention in Windhoek over the weekend.The...

AR gets the nod in Walvis Bay, Swakopmund

1 week ago - 31 July 2020 | Politics

OGONE TLHAGEWINDHOEKThe Affirmative Repositioning movement's application to participate in the upcoming local and regional authority elections at Walvis Bay and Swakopmund has been approved by...

Geingob bemoans tribalism in Swapo

1 week ago - 29 July 2020 | Politics

JEMIMA BEUKESWINDHOEKPresident Hage Geingob has challenged Swapo members to deal with the recurrent ghosts of tribalism and factionalism, which undermine party's cohesion and its ability...

Master KG’s 'Jerusalema' tops 50m views on YouTube

1 week ago - 27 July 2020 | Politics

IOL ENTERTAINMENT Master KG’s global hit Jerusalema has reached another milestone, gaining over 50 million views on YouTube.Jerusalema, which was one of the chart-topping hits...

'Swapo introspection a joke'

1 week ago - 27 July 2020 | Politics

JEMIMA BEUKES WINDHOEK Former prime minister Nahas Angula has described the ruling party's post-mortem gathering on last year's general election over the weekend as...

PDM woes impact parliament poster

1 week ago - 27 July 2020 | Politics

JEMIMA BEUKES WINDHOEK The National Assembly has delayed the printing of the official poster of members of parliament following a High...

We don't play politics – ECN

2 weeks ago - 21 July 2020 | Politics

OGONE TLHAGEWINDHOEKThe Electoral Commission of Namibia (ECN) yesterday scoffed at suggestions by the Affirmative Repositioning (AR) movement that its applications ahead of this year's elections...

Geingob slams lethargic Swapo MPs

3 weeks ago - 17 July 2020 | Politics

JEMIMA BEUKESWINDHOEKPresident Hage Geingob yesterday made no secret of his discontent that members of his Swapo Party are trailing in the dust of their opposition...

'PDM court woes a diversion'

3 weeks ago - 17 July 2020 | Politics

JEMIMA BEUKES WINDHOEKPopular Democratic Movement (PDM) chief whip, Vipuakuje Muharukua, has claimed that this week's court hearing against the party was a diversion tactic to...

Latest News

Border bribery syndicate exposed

6 hours ago | Crime

OGONE TLHAGE WINDHOEK Namibian authorities have widened their investigation into the case of Immanuel David, who allegedly paid bribes to various individuals so...

Shame on Namibian football ‘gods’

6 hours ago | Opinion

Like the body of a disgraced African dictator awaiting official communication on what is to be done with it, Namibian football has been lying in...

Fishrot's De Klerk washes dirty...

6 hours ago | Justice

RONELLE RADEMEYER WINDHOEK Marén de Klerk, the lawyer who left Namibia amid allegations that millions of dollars from the Fishrot bribery scandal had passed...

She’s got style

6 hours ago | Art and Entertainment

MICHAEL KAYUNDE WINDHOEK Launched in 2018, stylist Yverischka Ivertor Bok is happy with the pace at which her brand,...

10th NAMAs go virtual

6 hours ago | Art and Entertainment

STAFF REPORTER WINDHOEK The Namibian Annual Music Awards executive committee recently announced that the 10th NAMAs will be delivered online. The event will...

Keeping it real

6 hours ago | Art and Entertainment

Awards season is finally in full swing, and this is testament to the stories carried in this edition.After being in suspense for a few months,...

Boy accused of murder granted...

6 hours ago | Justice

NAMPAGOBABISA 14-year-old boy who allegedly stabbed an 18-year-old to death at the Kanaan A informal settlement in Gobabis this past Saturday has been granted bail...

Pangolin traffickers nabbed

6 hours ago | Crime

ELLANIE SMITWINDHOEKIn the first cooperation between US law enforcement and the Namibian police, four suspected pangolin traffickers were recently arrested in Namibia.According to a statement...

Germany should fund Namibia's land...

6 hours ago | Columns

Henning Melber Nearly 30 years after starting land reform, Namibia's distribution of land ownership is still skewed. This is a colonial legacy. It is high...

Load More