Sam Nujoma Foundation to repay gift from Namangol Investments

THE trustees of the Sam Nujoma Foundation say they will pay back the N$20 000 that the foundation received from Namangol Investments as soon as the authorities indicate to whom it should be paid.

Namangol Investments is currently embroiled in a High Court inquiry into the missing N$30 million the Social Security Commission invested with Avid Investment Corporation, which in turn placed that money with Namangol Investments. Justice Minister Pendukeni Iivula-Ithana issued a statement on behalf of the board of trustees, at the end of last week.She said that the foundation had no way of knowing that the N$310 000 pledged by Namangol CEO Nico Josea was probably money stolen from the public.The statement said at no time did former President Sam Nujoma solicit funds from Namangol, and that the money was given of Josea’s own free will.When he last testified in court, Josea told the inquiry that he had planned to pay the N$310 000 in monthly instalments over a period of five years.The Sam Nujoma Foundation said that to date Namangol Investments had only made two payments to it: N$15 000 in April and another N$5 000 in May.Josea made the pledge at the launch of the Sam Nujoma Foundation in February.The foundation aims to do charitable work to improve the lives of the less privileged, including people with HIV-AIDS, orphans and other vulnerable groups in Namibia.Josea is expected to give further testimony in court this week, when the inquiry is scheduled to wrap up its business.Justice Minister Pendukeni Iivula-Ithana issued a statement on behalf of the board of trustees, at the end of last week.She said that the foundation had no way of knowing that the N$310 000 pledged by Namangol CEO Nico Josea was probably money stolen from the public.The statement said at no time did former President Sam Nujoma solicit funds from Namangol, and that the money was given of Josea’s own free will.When he last testified in court, Josea told the inquiry that he had planned to pay the N$310 000 in monthly instalments over a period of five years.The Sam Nujoma Foundation said that to date Namangol Investments had only made two payments to it: N$15 000 in April and another N$5 000 in May.Josea made the pledge at the launch of the Sam Nujoma Foundation in February.The foundation aims to do charitable work to improve the lives of the less privileged, including people with HIV-AIDS, orphans and other vulnerable groups in Namibia.Josea is expected to give further testimony in court this week, when the inquiry is scheduled to wrap up its business.