Tjingaete attributed Nampa's progress to "an efficient and effective accounting system" implemented by management after it became a parastatal about a year ago.

The AG's report on the agency's account for the year ended March 31 2002 said the use of Pastel, an enhanced accounting programme, was "effective and efficient" in managing Nampa's financial resources.

The financial results show that it received income of N$7 726 206, the bulk - N$7 120 698 - through a Government subsidy.

However, by the end of March, Nampa had only raised N$359 234 through subscription fees and generated interest of N$246 274. Nampa's bank account reflected a favourable balance of N$4 237 868.

The AG advised Nampa to review its internal policy on the useful life for computer equipment, furniture and fittings.

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