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Geingob’s Chinese partner builds empire

26 May 2016 Author   Sonja Angula
front chinese 27 May 2016The business partner of President Hage Geingob, Chinese millionaire Jack Huang, has over 16 years built a huge business empire concentrated in the border town of Oshikango.
 
His Oshikango businesses include the Freedom Square shopping centre and Dragon City, which comprises of several stores, Sun Square Hotel and China Town.
 
Huang has 100 percent shareholding in all these companies.
 
The Namibian reported last week that Huang has a 60 percent shareholder in African Sunrise Investment, in which the Dr Hage Geingob Family Trust and the president’s ex-wife Loini each have a 20 percent stake.
 
According to the daily, African Sunrise Investment plans to build more than 400 apartments, 24 villas, two mansions and a hotel in the upmarket area of the Klein Windhoek farmlands.
 
State House Press Secretary Albertus Aochamub told the media earlier this week that Geingob does not own 20 percent in African Sunrise Investment, but that he is one of a number of beneficiaries of the family trust.
 
Aochamub said the president had publicly declared this interest to the public in May last year.
 
An investigation by the Windhoek Observer this week revealed that Huang has extensive business interests in Oshikango, among other areas in which he has built his lucrative empire.
 
Huang is also the founder of Namibia China Loving Heart Organisation (NCLHO), a charity that spends millions of dollars on scholarships for needy Namibians, to study outside the country.
 
He also has interests in mining exploration, building material trading, property (commercial, residential and industrial) and transfrontier trading at Oshikango, where he owns ten affiliate firms.
 
The NCLHO has reportedly spent about N$14 million on 28 Namibians who are studying medicine in China.
 
NCLHO’s financial resources come from Huang’s different companies, including Namibia Dragon City, Golden Phoenix Enterprises, Oryx Textile Manufacturing and Jack’s Trading CC.
 
Huang’s Jack Trading cc has been importing Anhui Conch Cement from China to Namibia for more than four years now.
 
In 2014, Huang pledged the third highest amount of N$1 million at a SWAPO gala dinner in Ongwediva.
 
Huang also donated 2,000 bags of mahangu flour to the people of the Oshikango Constituency in December 2008.  The Windhoek Observer has also established that Huang owns two Japanese restaurants in Boston, Massachusetts in the USA.
 
Last November, Geingob handed over a new home to the Hansen family after they lost their house in 2007, when the City of Windhoek auctioned it over water and electricity debts.
 
Huang’s Sun Investment Group built the new three-bedroom, fully furnished house for the family in 42 days.

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