NamRA finance boss stripped of powers
The Namibian Revenue Agency’s (NamRA) decision to split its finance and corporate affairs portfolio into two is seen as a move to covertly demote its substantive finance boss, Haitenge Nelumbu.
In an internal memo sent on 18 April, NamRA commissioner Sam Shivute informed employees that the finance and corporate functions will now be realigned and that the two business units will operate separately.
The procurement department will now be with assets and facilities, reporting to chief corporate services, while the financial management function - including financial control and revenue - will report to the chief financial officer that is yet to be recruited.
With this change, Nelumbu has effectively been stripped of his finance duties and will only be responsible for corporate affairs.
This could be viewed as a step down for Nelumbu, a chartered accountant by training, who previously served as manager for management accounting and budgeting at the Development Bank of Namibia.
Nelumbu, however, dismissed any tension, saying: “There is nothing extraordinary about the decision to split the duties”.
Corresponding interventions
According to insiders, the leadership at the revenue agency was not happy with the manner in which its financial affairs were being handled. There are also claims of late submissions of financial statements and reports, which has subsequently delayed the completion of the annual budget.
Asked why NamRA decided to split the functions, Shivute responded: “NamRA is growing by the day and that requires corresponding interventions. The corporate services business unit oversees procurement together with assets and facilities. You will appreciate that our assets and facilities are all over the country at entry points and in all regions. That function requires dedicated management”.
He added: “On the finance function, our annual budgetary allocation has grown from N$400 million to over a billion this financial year - an indication of the activities and the level of management required in that space”.
Shivute downplayed any talks of bad blood or demotions, saying Nelumbu agreed to the move.
“We decided to separate the finance and corporate services functions, owing to the need to enhance efficiency in those areas. Following internal consultations, [Nelumbu] accepted to serve as chief corporate services officer, and we have advertised the chief financial officer position,” he explained.
Interim arrangements
Nelumbu, a qualified chartered accountant, holds several accounting qualifications, has 14 years of experience in banking and is a fellow of the Association of Chartered Certified Accountants.
Following the splitting of the finance and corporate affairs functions, Nadine Du Preez has been appointed as acting chief financial officer.
According to Shivute, the organisation has already started preparations for the recruitment of the financial officer position, but will make interim arrangements in the meantime.
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In an internal memo sent on 18 April, NamRA commissioner Sam Shivute informed employees that the finance and corporate functions will now be realigned and that the two business units will operate separately.
The procurement department will now be with assets and facilities, reporting to chief corporate services, while the financial management function - including financial control and revenue - will report to the chief financial officer that is yet to be recruited.
With this change, Nelumbu has effectively been stripped of his finance duties and will only be responsible for corporate affairs.
This could be viewed as a step down for Nelumbu, a chartered accountant by training, who previously served as manager for management accounting and budgeting at the Development Bank of Namibia.
Nelumbu, however, dismissed any tension, saying: “There is nothing extraordinary about the decision to split the duties”.
Corresponding interventions
According to insiders, the leadership at the revenue agency was not happy with the manner in which its financial affairs were being handled. There are also claims of late submissions of financial statements and reports, which has subsequently delayed the completion of the annual budget.
Asked why NamRA decided to split the functions, Shivute responded: “NamRA is growing by the day and that requires corresponding interventions. The corporate services business unit oversees procurement together with assets and facilities. You will appreciate that our assets and facilities are all over the country at entry points and in all regions. That function requires dedicated management”.
He added: “On the finance function, our annual budgetary allocation has grown from N$400 million to over a billion this financial year - an indication of the activities and the level of management required in that space”.
Shivute downplayed any talks of bad blood or demotions, saying Nelumbu agreed to the move.
“We decided to separate the finance and corporate services functions, owing to the need to enhance efficiency in those areas. Following internal consultations, [Nelumbu] accepted to serve as chief corporate services officer, and we have advertised the chief financial officer position,” he explained.
Interim arrangements
Nelumbu, a qualified chartered accountant, holds several accounting qualifications, has 14 years of experience in banking and is a fellow of the Association of Chartered Certified Accountants.
Following the splitting of the finance and corporate affairs functions, Nadine Du Preez has been appointed as acting chief financial officer.
According to Shivute, the organisation has already started preparations for the recruitment of the financial officer position, but will make interim arrangements in the meantime.
[email protected]
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