• September 26th, 2018
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N$25-million Error Just Too Costly

Kuvee Kangueehi AN investigation team set up by the Ministry of Mines and Energy has revealed that Namcor has made a loss of more N$26 million in the first three months of the year. In layman's terms, Namibia has lost a cool N$26 million, which could have been used to improve the living conditions of thousands of Namibians living in poverty. The nation is still begging for answers on how well paid Namcor CEO, management and Board of Directors could have made such costly errors, which robbed a developing country of N$26 million during these tough economic times. The saddest part is that with escalating energy costs and high food prices, the people that feel the pinch the most are not the ones we have entrusted with our big companies like Namcor, but the ordinary people in Opuwo, Khorixas, Onyaana, Otjinene and the other small places in the country. Of course, I am crying over split milk, but I cannot help but wonder what Namibia could have done with those millions. What comes to mind first are hundreds of students at Unam and Polytechnic who are threatened every year come exam time because they would have failed to pay their tuition fees. The N$26 million could have paid for all those outstanding bills and there would still have been money left for next year. What a waste! That amount can build 260 low-income houses with water and electricity for our residents who live in shacks on the outskirts of Windhoek and will provide permanent shelter to over 1?
2008-06-06 00:00:00 10 years ago
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