Namibia Stock Exchange-listed Letshego Namibia has down played the impact of the on-going turbulence at its Botswana based holding company, Letshego Group, which has led to the exodus of five top executives in the past year, including the group managing director, group financial officer and a CEO who only spent six months on the job. Letshego Namibia says that the exodus has no material impact on the company.
Four local banks, Nedbank Namibia, RMB Namibia, Standard Bank, Bank Windhoek and South Africa’s ABSA have provided an N$5.6 billion loan to Debmarine Namibia towards funding the acquisition and construction of the company’s latest marine diamond mining vessel, the AMV3.
With all due respect to the talent and good character of Angelina Immanuel, we see the more than 1,400 votes garnered in her name in the June 15th Ondangwa Urban Constituency by elections as a protest vote representative of a SWAPO vs SWAPO outcry that demonstrates continued discontent within the party. We believe her participation in the election is a watershed event and she is to be congratulated for her efforts. However, the votes won under her name were likely not due specifically to her leadership or personal support base.