KEETMANSHOOP – Leader of the official opposition McHenry Venaani said the significant revenue losses of about N$230 million at Namib Desert Diamonds (Namdia) are deeply troubling, and warrant immediate and rigorous scrutiny.

In a media statement on Wednesday, he called on the chairperson of the Parliamentary Standing Committee on Natural Resources, Tjekero Tweya, to initiate a comprehensive parliamentary probe and inquiry into the matter.

“An expedited investigation is necessary in order to ascertain the full extent of the losses, identify any underlying issues, and hold accountable those responsible for this situation. A loss of such magnitude raises substantial concerns about financial management, transparency and accountability within the organisation,” he stressed.

He said Namdia, as a crucial entity in the national diamond sector, is entrusted with safeguarding and enhancing the country’s valuable natural resources. The reported financial shortfall not only undermines the integrity of the corporation, but also poses serious ramifications for the national economy.

He said the impact of such losses extends beyond the immediate financial figures, as it has broader implications for the country’s economic stability and growth prospects.

The politician remarked that the erosion of trust and financial health of key national institutions compromise investor confidence, and could potentially undermine stability within the diamond sector. 

These factors have repercussions for employment and economic outlooks.

“The integrity of our national institutions and the effective management of our resources are paramount. Therefore, I urge all relevant stakeholders to prioritise this issue to ensure that such financial mismanagement is addressed decisively, thereby protecting the interests of the nation, its resources and its people,” he added. 

-Nampa