Angula praises Nujoma for making South Africa cancel N$800 million debt

By: Envaalde Matheus 

Former finance minister Helmut Angula recalls how President Sam Nujoma successfully negotiated with South Africa to write off Namibia’s N$800 million debt.

Angula, who shared his insight on key economic strategies, praised Nujoma’s strong and decisive leadership, which benefitted Namibia’s economy.

“The South Africans had claimed that Namibia owed a debt of N$800 million, borrowed by the previous Namibian administration, and that it needed to be paid back. On several occasions, both the first and second ministers of finance tried to negotiate with the government without success,” said Angula.

Angula said when former President Nelson Mandela came to power, Nujoma decided to approach him, hoping that the new leader might help. 

“Despite Mandela’s assumption of office, the South Africans remained firm in their stance, refusing to write off the debt. They argued that the debt was a colonial one, which Namibia had not consented to nor benefited from. Yet, they insisted that Namibia had taken it over,” he said.

Angula said that Nujoma and Mandela later reached an agreement.

Angula also said they successfully combated illegal fishing in Namibia’s waters.

He further noted that they managed to protect the country’s marine resources while ensuring that tenders in the fishing sector were awarded to Namibian companies.

“Prior to this, fishing rights were primarily allocated to white-owned companies. Nujoma instructed that the industry be ‘Namibianised’ and reformed, ensuring fishing rights were given to local people,” he said. 

Furthermore, Angula said five Spanish fishing vessels were captured for illegally catching fish in Namibian waters, although one vessel managed to escape.