A Farm belonging to a prominent accountant charged with fraud amounting to N$82 million will go on auction today.
Michael Bronkhorst was arrested in 2024 and faces four counts of fraud in an ongoing case.
One of his creditors, Petrichor Capital, secured a High Court sequestration order to liquidate his assets.
The 4 703ha farm, alternatively called farm Otjomasso or farm Okamatangara, is one of Bronkhorst’s personal assets being liquidated.
The farm is located near Summerdown in the Okahandja district, and has both a feedlot and dairy, auctioneers NamAgri say.
“This is a rare large-scale investment opportunity. It’s a complete agricultural asset ready for its next chapter,” NamAgri agent Alex McDonald says in a promotional video.
Agricultural land in Namibia can be sold to private investors, but must first be offered to the government to buy, in line with the Agricultural (Commercial) Land Reform Act of 1995.
The state waived its rights to buy the agricultural land in February.
“It was too expensive, and did not meet our criteria for resettlement,” ministry spokesperson Tjirongo Kauaria says.
These waivers, provided by the Ministry of Agriculture, Fisheries, Water and Land Reform, are valid for one year.
The government, however, says the waiver does not apply to foreign investors wishing to buy agricultural commercial land.
“The waiver does not entitle the owner to sell or otherwise dispose of the mentioned property without the prior written consent of the minister,” the waiver, signed by minister Inge Zaamwani, says.
Farm Otjomasso includes a three-bedroom homestead, a three-bedroom manager’s house, two guest chalets and workers’ accommodation, in addition to agricultural facilities.
The farm currently has a cow-calf operation, a dairy herd and a feedlot, McDonald says.
Some 320 head of cattle will be included in the sale.
The farm also has solar power, boreholes, and irrigation infrastructure.
“[The soil is] exceptionally rich, fertile and proven to be highly productive. [The farm is] positioned in one of Namibia’s top agricultural regions,’ McDonald says.
The auction will be open online from 18 to 25 June.
