NO missing millions | Namib Times namibtimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from namibtimes.net Daily Mail and Mail on Sunday newspapers.
Floris Steenkamp
Original agreement changed at Deeds Office – land does not have to be returned to municipality after Afrikuumba Joint Venture expires in 50 years…………………..
By the single strike of a pen, the municipality of Walvis Bay in 2018 lost 80 % of its ownership in two plots (4939 and 4941) in the lagoon suburb earmarked for a waterfront development. The municipal swimming pool and cricket fields are currently situated on these two plots respectively.
The two plots were registered in the name of a Joint Venture company, Walvis Bay Waterfront Properties, in which the Walvis Bay municipality holds a 20 % stake and Afrikuumba Construction, owned by businessman Titus Nakuumba, holds an 80 % stake. A formal agreement is in place which stipulates the Joint Venture would only be in existence for a period of 50 years. After the 50 years period the Walvis Bay municipality’s ownership of the two plots with improvements would be fully restored.
Namibia: Walvis Council Sends Officials On Indefinite Leave allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Top Walvis Bay managers suspended
THE four people at the centre of an investigation launched by the Anti-Corruption Commission into millions of dollars, that have gone missing from the mass housing and land servicing funds, have been suspended by the Walvis Bay Municipal Council.
The suspension of the Chief Executive Officer, Muronga Haingura, the General Manager Agostinho Victor, the Properties and Housing Manager, Jack Manale, and Connie Summers, a property clerk, was confirmed on Tuesday afternoon after the community of the harbour town has been speculating about their fate for days.
The suspension of the three top municipal managers and the property clerk follows almost a week after investigators of the Anti-Corruption commission executed a search and seizure warrant and confiscated computers and files from their offices, ironically, on International Ant-Corruption Day last week.
Namibia: Probe Into Missing N$24m Intensifies ACC Insists Walvis Investigation Not Compromised allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.