SHINOVENE IMMANUEL, TILENI MONGUDHI and MATHIAS HAUFIKU JAMES Hatuikulipi, the man accused of masterminding Namibia’s biggest fishing corruption scandal, had the world at his feet, earning a total package of around N$30 million a year from his daily investment job.
His net worth was estimated to be more than N$1 billion in mostly cash, making him one of the richest people in Namibia.
That world came crashing down on 27 November last year when he was arrested for alleged corruption, fraud and money laundering.
It saw the emergence of Hatuikulipi as one of the key players in the Fishrot scandal that includes alleged corruption deals of more than N$2 billion.
How did Hatuikulipi go from being one of Namibia’s elite investment minds to an awaiting-trial prisoner?
This article is based on the accounts of 17 people who knew him intimately, as well as on court and public documents.
Hatuikulipi – the lastborn of four children – was politically connected from birth. His late father, Tauno Hatuikulipi, a church leader in the north, was a respected Swapo member.
His father died under mysterious circumstances after being persuaded to go into exile in Angola, where he was appointed head political commissar at Lubango.
Hatuikulipi was six months old at the time.
Some believe that one of the driving forces in Hatuikulipi’s life can be traced back to the father he never knew. It was the prelude to a long and complex relationship with the ruling party.
Hatuikulipi’s rise to the top started around 20 years ago. His eventual downfall would prove to be the slippery world of fish deals.
In 1998, a young analyst at stockbroking firm HSBC Securities Namibia wrote a critical industry analysis of Namibia’s fishing industry and the case for investing in it. He was also known for his analysis of the grape market.
That analyst was Hatuikulipi, then a University of Namibia commerce graduate.
He went on to become one of Namibia’s top-paid executives, allegedly earning about N$30 million a year, which included bonuses and other incentives such as shares and the purchase of houses abroad as the managing director at Investec Asset Management Namibia (now renamed Ninety One Assets Management Namibia).
Hatuikulipi’s N$1 billion nett worth estimate mainly includes cash parked in various bank accounts, sources said.
Some sources claimed that these figures were not correct as Hatuikulipi earned around N$7 million a year from Invester.
As he established himself, Hatuikulipi all but became embedded among Namibia’s ruling elite, some of whom ended up being his business partners, others his friends.
Whether it was his intention, or whether it was the affirmation of being accepted, he seemed to relish the position he found himself in.
He was not shy when it came to bragging about his connections. He often let slip that he delivered president Hage Geingob’s wedding suit in February 2015.
Hatuikulipi was apparently in London when he was asked if he could pick up the incoming president’s navy blue suit, made by Geingob’s personal tailor in London.
He delivered the suit just a few days before Geingob said “I do” on Valentine’s Day.
The Office of the President did not respond for comment.
Up until last year, the sky appeared to be the limit for Hatuikulipi: He had thriving businesses, a multimillion-dollar farm, a mansion outside Windhoek, friends in high places and a top-paying job. But he wanted more.
At Outapi last year, Hatuikulipi boasted that he was building apartments for €80 million (N$1,2 billion) in the Spanish capital, Madrid – in a suburb frequented by football stars.
Among others, Hatuikulipi, Sacky Shanghala and Bernhard Esau have been charged with money laundering, bribery and corruption in exchange for granting lucrative fishing rights to Icelandic company Samherji.
Hatuikulipi’s arrest led to the collapse of some of his assets – at least in Namibia.
“My account has been garnished by the finance minister or officials under his authority and now appears to be in negative N$150 million,” he said in court papers this year.
