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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

SME bank

5 Results / Page 1 of 1

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Namibia

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 […]

todayMay 6, 2024 36

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Namibia

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 […]

todayApril 12, 2024 7

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Namibia

Prosecutor General Investigates Alleged Looting of SME Bank

Martha Imalwa, the Prosecutor General, has stated that she and her team are meticulously examining documents that detail the alleged looting of the Small and Medium Enterprises Bank. This scrutiny aims to determine whether any criminal activities contributed to the bank's closure in 2017. The directive came after Supreme Court judge Dave Smuts instructed the court's registrar to provide a set of documents filed by the bank's liquidators in the […]

todayApril 3, 2024 9

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Namibia

Businesswoman Tania Hangula Agrees to Repay Portion of Funds from Defunct SME Bank as Activist Rinaani Musutua weighs in

Businesswoman Tania Hangula has agreed to reimburse N$4 million of the N$6.6 million she received from the now-defunct Small and Medium Enterprises Bank. Between 2015 and 2019, Hangula utilized these funds for various purposes, including purchasing a beach property, a Mercedes-Benz, and financing trips to Dubai and other countries. Activist Rinaani Musutua weighs in.  

todayMarch 18, 2024 28

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Namibia

Penalties get Ex-SME Bank directors off the hook

The defence and veterans affairs minister Frans Kapofi and the secretary to the Cabinet, George Simataa, are among former SME Bank directors who paid back money as penalty after liquidators accused them of being reckless and giving Zimbabwean national Enock Kamushinda free rein to steal N$200 million from the bank. Moreover, the list includes 3 who have been "forgiven". Social Justice Trustee Herbert Jauch weighs in on the potential expenses […]

todayNovember 24, 2023 10

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