President Netumbo Nandi-Ndaitwah’s newly appointed economic adviser, Shali Shindume, reportedly owes Agribank over N$15 million, raising critical questions about high-level government vetting processes.
The N$15-million loan was obtained while Shindume was the bank’s credit manager.
Agribank approached the High Court in 2021 due to a breach of contract to seek the payment of the outstanding amounts of about N$14 million, of which about N$5.5 million was the amount in arrears.
This is apart from interest and legal fees, as well as an order declaring Shindume’s property executable.
Agribank says Shindume was in breach of contract having defaulted on his repayments, and that Shindume is the holder of a mortgage bond over a property he ceded to the bank as security for the due and punctual fulfilment of his obligations to the bank.
In the settlement agreement the High Court issued in 2021, the parties agreed that Shindume would subdivide his farm property by 15 January, failing which the parties agreed the terms of the agreement would be renegotiated.
The parties agreed that Shindume make annual payments to Agribank for loan agreement number 10014877, dated 3 August 2014.
Furthermore, Shindume had to pay an additional N$10 000 monthly, starting from 31 January 2022, and being effected on or before the last calendar day of each month until 15 January 2023, or until the subdivision of the land was completed.
Agribank and Shindume agreed to settle the matter among them with conditions attached of which one was the sale of farm Abendruhe No 913 Division B, measuring 5 619 hectares in the Otjozondjupa region, to recoup the debt.
“In the event of any default of any payments stipulated above, the recalculated full balance then outstanding shall become due and payable,” the judgement reads.
Sources within the bank say the settlement agreement was not honoured and that the bank’s efforts to obtain payment, including the sale of the farm, proved futile.
The sale of the farm could not go ahead because of a Cabinet directive of March 2025 that prohibits Agribank to sell off farms as a result of loan defaulters by previously disadvantaged Namibians that is still in place.
Political analyst Ndumba Kamwanyah says if it is established through verified evidence that an individual seeking appointment to a high-level public office is subject to outstanding loan obligations, court judgements, or other serious financial liabilities, such circumstances would raise legitimate concerns regarding their suitability for the position.
He says senior government appointments require not only professional competence, but also demonstrated financial responsibility, sound judgement, and the confidence of the public.
“Any verified findings of this nature should, therefore, be carefully considered as part of the vetting process to ensure appointments uphold the principles of integrity, accountability, and public trust,” Kamwanyah says.
Presidential appointments and vetting refer to the constitutional processes and background investigations used to select, evaluate, and confirm individuals for high-level government or public service positions.
This rigorous procedure ensures appointees possess the required qualifications, character, and integrity, while also identifying any potential conflicts of interest or ethical red flags.
Presidential spokesperson Jonas Mbambo would yesterday not comment on whether Shindume was vetted and whether the Office of the President is aware of the debt.
“We would appreciate being furnished with a copy of the court documents referenced to enable us to establish the facts,” Mbambo said.
Shindume was appointed as Nandi-Ndaitwah’s new economic adviser from 1 June.
