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Fired Agribank directors voice concerns

Fired Agribank directors voice concerns

THE fired Agribank directors have hit back at the Minister of Finance saying her instruction that they appoint a person “not suitably qualified is an order that runs contrary to the principles of the Agribank Act, as well as corporate governance”.

The Namibian understands that the directors also expressed concern that the Ministry of Finance has become increasingly “blatant” in its interference with the day to day affairs of parastatals in its ambit since Saara Kuugongelwa-Amadhila took over last year. A veiled reference was made about Air Namibia, where the Minister of Finance reportedly recently overturned the director’s choice of a chief executive.Deputy Minister of Finance, Clara Bohitile, yesterday dismissed accusations of interference.She said that the root of the Agribank saga was a matter of “a conflict of interest”.Bohitile said board members had failed to recuse themselves when issues, in which they had a personal interest, were discussed.The directors’ fighting words are contained in a letter sent to Minister Saara Kuugongelwa-Amadhila on Tuesday, as the stand-off between the politicians and board members started drawing to a close.Yesterday the Ministry of Finance reportedly submitted names to the Cabinet office for the appointment of new directors to replace the five who were ordered to resign last week.The axe fell after they refused to appoint Deputy Minister of Lands Isak Katali as acting Chief Executive Officer.The board of directors said Katali, a former teacher and education planner with a Master’s degree, had neither the academic qualifications, nor the experience, needed to run the financial institution.The Minister accused the directors of working against the national interest for turning down her instruction.”We do not believe, correctly so indeed, that the upholding of the Agribank Act on the appointment of a suitably qualified person entitles you to demand our immediate resignation, for which no rational explanation or motive has ever become evident,” the directors said in the letter to Kuugongelwa-Amadhila.Unperturbed by the directors’ earlier stands not to resign, Bohitile said yesterday that new board members will be appointed soon.”There is something nice there at Agribank that I don’t know.Everybody who is there does not want to get out,” she told The Namibian.”The Government is the shareholder.If the owner doesn’t want to trust you, why [remain] where you are not wanted.”On charges that her Ministry was increasingly interfering in parastatals’ operational matters, Bohitile said:”We are the owners of those companies, including Air Namibia, and we have the right to deal with it.”The Ministry is reported to have ordered the Air Namibia board to appoint someone who did not apply for the to be the airline’s new CEO.The instruction to the person, who was on the interviewing panel for Air Namibia CEO candidates, reportedly came from the President.State House’s meddling with the administration of the airline prompted Sanlam Managing Director Vekuii Rukoro to resign as Air Namibia chairman a few months ago.”What is meant by interference? By doing what?” asked Bohitile.”Parastatals are ours, and many of them we fund.If we fund you we [would] want to know what is going on.”A veiled reference was made about Air Namibia, where the Minister of Finance reportedly recently overturned the director’s choice of a chief executive.Deputy Minister of Finance, Clara Bohitile, yesterday dismissed accusations of interference.She said that the root of the Agribank saga was a matter of “a conflict of interest”.Bohitile said board members had failed to recuse themselves when issues, in which they had a personal interest, were discussed.The directors’ fighting words are contained in a letter sent to Minister Saara Kuugongelwa-Amadhila on Tuesday, as the stand-off between the politicians and board members started drawing to a close.Yesterday the Ministry of Finance reportedly submitted names to the Cabinet office for the appointment of new directors to replace the five who were ordered to resign last week.The axe fell after they refused to appoint Deputy Minister of Lands Isak Katali as acting Chief Executive Officer.The board of directors said Katali, a former teacher and education planner with a Master’s degree, had neither the academic qualifications, nor the experience, needed to run the financial institution.The Minister accused the directors of working against the national interest for turning down her instruction.”We do not believe, correctly so indeed, that the upholding of the Agribank Act on the appointment of a suitably qualified person entitles you to demand our immediate resignation, for which no rational explanation or motive has ever become evident,” the directors said in the letter to Kuugongelwa-Amadhila.Unperturbed by the directors’ earlier stands not to resign, Bohitile said yesterday that new board members will be appointed soon.”There is something nice there at Agribank that I don’t know.Everybody who is there does not want to get out,” she told The Namibian.”The Government is the shareholder.If the owner doesn’t want to trust you, why [remain] where you are not wanted.”On charges that her Ministry was increasingly interfering in parastatals’ operational matters, Bohitile said:”We are the owners of those companies, including Air Namibia, and we have the right to deal with it.”The Ministry is reported to have ordered the Air Namibia board to appoint someone who did not apply for the to be the airline’s new CEO.The instruction to the person, who was on the interviewing panel for Air Namibia CEO candidates, reportedly came from the President.State House’s meddling with the administration of the airline prompted Sanlam Managing Director Vekuii Rukoro to resign as Air Namibia chairman a few months ago.”What is meant by interference? By doing what?” asked Bohitile.”Parastatals are ours, and many of them we fund.If we fund you we [would] want to know what is going on.”

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