State news agency in the red

THE Namibia Press Agency (Nampa) is “commercially insolvent” and has made a net loss of N$1,7 million, its latest audit report has revealed.

Information and Broadcasting Minister Netumbo Nandi-Ndaitwah tabled the annual report of Nampa, which – in an unusual move – also contained the audit report of the Auditor General. The report covers the period between April 2004 and March 31 2005.Auditor General Junias Kandjeke completed his audit in September 2006.The news agency was turned into a commercial entity in 2001 on the instructions of Cabinet, but Nampa Chairperson Maureen Hinda noted that funding had never been provided to support the transformation.However, Nampa received a Government subsidy of N$7,89 million during the period under review.Expenses came to N$12,2 million.Nampa owed the Receiver of Revenue penalties of nearly N$2 million – N$1,29 million for not paying the Pay As You Earn (PAYE) tax deductions of employees over to the Receiver and N$599 744 for failing to pay Value Added Tax (VAT).The report covers the period between April 2004 and March 31 2005.Auditor General Junias Kandjeke completed his audit in September 2006.The news agency was turned into a commercial entity in 2001 on the instructions of Cabinet, but Nampa Chairperson Maureen Hinda noted that funding had never been provided to support the transformation.However, Nampa received a Government subsidy of N$7,89 million during the period under review.Expenses came to N$12,2 million.Nampa owed the Receiver of Revenue penalties of nearly N$2 million – N$1,29 million for not paying the Pay As You Earn (PAYE) tax deductions of employees over to the Receiver and N$599 744 for failing to pay Value Added Tax (VAT).