Ex-SME Bank employees demand compensation

Former staff members of the defunct SME Bank are demanding compensation from government, almost two years after the Bank of Namibia successfully applied to the Windhoek High Court to have it closed following the disappearance of more than N$200 million, which was purportedly “invested” in South Africa. 

KPMG official duped BoN over SME Bank money

The Bank of Namibia (BoN) hired troubled South African accounting firm, KPMG, to help trace funds allegedly invested in South Africa by the now defunct SME Bank, the Mail and Guardian reported this week.
Popular Democratic Movement (PDM) president McHenry Venaani has threatened to take government to court if his request for a judiciary inquiry into the SME Bank saga is not met.

Ex-SME Bank staff want loans written off

Unemployed ex-employees of the defunct SME Bank have written to government in a bid to have the loans that they took from their former employer be written off, claiming that they are not able to repay them.

SME Bank payments in limbo

The long-suffering depositors of the now defunct SME Bank will have to wait longer before they get their money back if the lender’s minority shareholders succeed with their latest legal manoeuvres.

Angula distances SWAPO from SME Bank woes

SWAPO Party stalwart and Secretary for Information and Publicity, Helmut Angula, has claimed that the ruling party was not aware of the challenges facing the defunct SME Bank prior to its takeover by the Bank of Namibia at the beginning of March.
The South African Reserve Bank (SARB) says there is no link between its recent sanctioning of VBS Bank and the missing N$200 million invested in the bank by SME Bank.

My conscience is clear - Simaata

Secretary to Cabinet, George Simataa, believes that the N$200 million that the SME Bank “invested” in South Africa would not have been lost had the Bank of Namibia (BoN) not removed the board he chaired.

Spy chief in firing line

The Namibia Central Intelligence Service Director General, Philemon Malima, is once again on the chopping block after he allegedly remarked to Attorney General, Sackeus Shanghala, that President Hage Geingob was protecting criminals involved in the SME Bank saga.

Bids start pouring in for SME Bank - liquidators

Prospective buyers have started expressing interest in taking over the troubled SME Bank, barely a week after the lender was placed under provisional liquidation, the Windhoek Observer has learned.
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The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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