SSC, ODC bombshell

GOVERNMENT is said to be sitting on a secret report, which lifts the lid on two botched investments involving tens of millions in Namibian taxpayers’ money: the N$100 million that the ODC managed to “lose”, and N$30 million in Social Security Commission (SSC) money which vanished.

The South African Economic Intelligence Unit has reportedly traced all payments between various bank accounts and has identified certain beneficiaries. The Vice President of the Congress of Democrats, Nora Schimming-Chase, yesterday asked Justice Minister Pendukeni Iivula-Ithana in the National Assembly if it was true that the South African intelligence authorities had handed over a report which reveals the whereabouts of the N$130 million.”Can the Minister confirm or deny if her office received such a report via the South African military liaison officer on the missing Avid and ODC millions and why has it not been tabled in Parliament?” Schimming-Chase asked.”Is it true that the South African Economic Intelligence unit has managed to trace all payments between various bank accounts and certain beneficiaries were identified?” she further asked.The CoD politician asked the Justice Minister to inform Parliamentarians about the “true state of affairs” regarding the missing millions, if such a special report did not exist.Minister Iivula-Ithana, who was not present yesterday, must reply to the questions next week Thursday.Over the past two years, the shenanigans involving the SSC, a state institution set up to provide a social safety net for Namibians, and the Offshore Development Company (ODC), a parastatal set up to attract export-oriented investment, have become symbolic of Namibia’s battle with corruption.THE SSC The intrigue and scandal surrounding the N$30 million in Social Security Commission money that simply “disappeared” after it was invested through a fledgling, but politically well connected investment company, Avid Investment, dominated Namibian headlines for months on end during 2005.It cost former Deputy Works Minister and Swapo Youth League leader Paulus Kapia both of these positions.Avid’s Chief Executive Officer, Lazarus Kandara, lost his life, allegedly committing suicide shortly before he was scheduled to give crucial testimony in a court hearing the following day.During the hearing, Kandara’s wife implicated a number of high-profile people as having received kickbacks for their role in the transaction.Ministry of Labour official Otniel Podewiltz, Acting Secretary General of the National Youth Council and Swapo Party member Ralph Blaauw and retired NDF Brigadier Mathias Shiweda all received large amounts of cash from Avid Investment Corporation, Mrs Kandara told Judge Raymond Heathcote during a public hearing in 2005.They all denied receiving a cent.A South African company allegedly promised investment broker Nico Josea, acting on behalf of Avid, high returns on the N$30 million investment.However, the investment transaction, which was alleged to be riddled with kickbacks and double deals, saw the N$30 million seemingly disappear without a trace.THE ODC Heads also rolled in connection with the disappearance of N$100 million invested by Government’s ODC with a little known and shady company, Great Triangle Investments – at one point supposedly based in Botswana and, among others, involving South Africans Philip Fourie and Tertius Theart.The Managing Director of the Namibia Development Corporation (NDC), Abdool Aboobakar, and its Finance Manager, Addis Faul, faced disciplinary charges for their role in investing N$55 million in NDC money through the ODC – also headed by Aboobakar – with a Botswana-registered company, Great Triangle Investments.Aboobakar resigned from both positions last year.Nonetheless, a tight veil of secrecy was thrown around what happened to the N$100 million entrusted to the ODC.Both Government and ODC officials have tried to shrug of the harsh glare of the public spotlight by repeatedly maintaining they were making progress in tracing the money, but never providing details of the progress out of alleged “fear” that it would ostensibly “jeopardise” their investigations.In August 2005, the ODC said it had begun “negotiating” to have the overdue investment returned to it.In May 2006, ODC Board Chairperson Gerdus Burmeister said “serious progress” had been made in tracking the botched multi-million dollar investment.To date, nothing has happened.The Vice President of the Congress of Democrats, Nora Schimming-Chase, yesterday asked Justice Minister Pendukeni Iivula-Ithana in the National Assembly if it was true that the South African intelligence authorities had handed over a report which reveals the whereabouts of the N$130 million.”Can the Minister confirm or deny if her office received such a report via the South African military liaison officer on the missing Avid and ODC millions and why has it not been tabled in Parliament?” Schimming-Chase asked.”Is it true that the South African Economic Intelligence unit has managed to trace all payments between various bank accounts and certain beneficiaries were identified?” she further asked.The CoD politician asked the Justice Minister to inform Parliamentarians about the “true state of affairs” regarding the missing millions, if such a special report did not exist. Minister Iivula-Ithana, who was not present yesterday, must reply to the questions next week Thursday.Over the past two years, the shenanigans involving the SSC, a state institution set up to provide a social safety net for Namibians, and the Offshore Development Company (ODC), a parastatal set up to attract export-oriented investment, have become symbolic of Namibia’s battle with corruption.THE SSC The intrigue and scandal surrounding the N$30 million in Social Security Commission money that simply “disappeared” after it was invested through a fledgling, but politically well connected investment company, Avid Investment, dominated Namibian headlines for months on end during 2005.It cost former Deputy Works Minister and Swapo Youth League leader Paulus Kapia both of these positions.Avid’s Chief Executive Officer, Lazarus Kandara, lost his life, allegedly committing suicide shortly before he was scheduled to give crucial testimony in a court hearing the following day.During the hearing, Kandara’s wife implicated a number of high-profile people as having received kickbacks for their role in the transaction.Ministry of Labour official Otniel Podewiltz, Acting Secretary General of the National Youth Council and Swapo Party member Ralph Blaauw and retired NDF Brigadier Mathias Shiweda all received large amounts of cash from Avid Investment Corporation, Mrs Kandara told Judge Raymond Heathcote during a public hearing in 2005.They all denied receiving a cent.A South African company allegedly promised investment broker Nico Josea, acting on behalf of Avid, high returns on the N$30 million investment.However, the investment transaction, which was alleged to be riddled with kickbacks and double deals, saw the N$30 million seemingly disappear without a trace. THE ODC Heads also rolled in connection with the disappearance of N$100 million invested by Government’s ODC with a little known and shady company, Great Triangle Investments – at one point supposedly based in Botswana and, among others, involving South Africans Philip Fourie and Tertius Theart.The Managing Director of the Namibia Development Corporation (NDC), Abdool Aboobakar, and its Finance Manager, Addis Faul, faced disciplinary charges for their role in investing N$55 million in NDC money through the ODC – also headed by Aboobakar – with a Botswana-registered company, Great Triangle Investments.Aboobakar resigned from both positions last year.Nonetheless, a tight veil of secrecy was thrown around what happened to the N$100 million entrusted to the ODC.Both Government and ODC officials have tried to shrug of the harsh glare of the public spotlight by repeatedly maintaining they were making progress in tracing the money, but never providing details of the progress out of alleged “fear” that it would ostensibly “jeopardise” their
investigations.In August 2005, the ODC said it had begun “negotiating” to have the overdue investment returned to it.In May 2006, ODC Board Chairperson Gerdus Burmeister said “serious progress” had been made in tracking the botched multi-million dollar investment.To date, nothing has happened.