Namibia to share N$3.3 million in recovered assets with Angola

By: Hertha Ekandjo

The Namibian government will be sharing N$3.3 million in recovered assets with the government of Angola following the signing of a new Asset Sharing Agreement between the two countries.

The agreement formalises cooperation in the recovery and return of unlawfully acquired assets stemming from a cross-border fraud case involving an Angolan national.

According to the ministry of justice’s public relations officer, Edmund //Khoaseb, Namibia will retain N$500 000, the value of a Toyota Hilux double cab purchased in Namibia using stolen funds, while the remaining amount will be transferred back to Angola.

The money was originally obtained through a fraudulent US$400 000 payment made by the Angolan government in 2019 and later moved into a Namibian bank account.

Namibian authorities froze the funds and confiscated the vehicle in 2023 under the Prevention of Organised Crime Act (POCA).

//Khoaseb explained that since the crime was committed in Angola, the bulk of the funds will rightfully return to the Angolan state. Only the portion directly tied to assets acquired in Namibia remains with the Namibian government.

Minister of Justice, Filemon Immanuel, on Wednesday, signed the agreement on behalf of Namibia, while Angola was represented by Auditor General, Hélder Fernando Pitta Grós.

Immanuel praised Angola as a long-standing and reliable neighbour that has supported Namibia militarily and materially over the years.

Pitta Grós acknowledged Angola’s ongoing fight against corruption and said the agreement highlights the power of intergovernmental cooperation. He commended Namibia’s constructive partnership, noting that it sets a positive example for the international community.