Liquidated SME Banker Accused of Failing to Repay Stolen Funds, Alleges Coercion

Enock Kamushinda, a Zimbabwean banker and minority shareholder in the liquidated SME Bank, agreed to repay N$140 million of the N$247 million stolen from the bank. However, he only paid back N$3 million, claiming coercion and invalidity of the settlement agreement. The High Court of Zimbabwe documents reveal his fear of arrest and deportation. The bank’s liquidator denies these claims, stating Kamushinda provided no evidence. Kamushinda, accused of masterminding the looting, left Namibia before the Bank of Namibia’s intervention in 2017 and hasn’t returned since.