insert_link 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 […] today6 May, 2024
insert_link 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 […] today12 April, 2024
insert_link 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 […] today3 April, 2024
insert_link 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. today18 March, 2024
