Windhoek Pensioner Faces Home Loss Amid SME Bank Liquidation

A Windhoek pensioner, Godfrey Makumbi, who had hoped to spend his retirement in his own home, is now confronted with the possibility of losing the house he purchased from former deputy minister Engel Nawatiseb, a beneficiary of SME Bank, in November 2017 for N$1.2 million. This purchase coincided with the year the bank ceased operations following liquidation by the Bank of Namibia. The liquidators of SME Bank are alleging that Nawatiseb expedited the sale of the house during the bank’s liquidation, accusing him of orchestrating a scheme that could leave the pensioner without a home.