Govt plays ‘ping-pong’ with Agribusdev

The cash-strapped agriculture parastatal Agribusdev will report to agriculture minister Calle Schlettwein from now on, having previously reported to the public enterprise minister.Schlettwein confirmed the development to Namibian Sun last week, adding that managing the company’s debts will be a priority.The minister said the process to move the parastatal to his domain is already underway, but some issues, including legal recommendations made by the cabinet committee on legal matters, are still being addressed.He said Agribusdev will not be brought into the ministry as a standalone department but will be incorporated into the ministry.“This process has already begun; the green schemes are already part of our ministry, and we are using the staff of Agribusdev to be in charge of that. We have to sort out some institutional issues, such as the huge debt, as well as some of the contracts they have,” the minister explained.TroubledThe company, which manages government green schemes, is in complete disarray, with insiders claiming the government appears confused on how exactly to manage the entity, including a lack of clarity on the mandate of board members.The entity also faces N$75 million of debt and has for several months failed to pay salaries, while facing a myriad of problems including allegations of political interference, poor leadership, insider trading, victimisation of employees and nepotism.Namibian Sun this month reported that its existing board of directors received over N$250 000 in sitting fees without ever sitting for a board meeting since their appointment in April 2021.Agribusdev has made massive losses over recent years, with taxpayers having to fork out more than N$50 million in bailouts and bank guarantees between 2017 and 2019.As of 21 May 2021, 19 of Agribusdev’s 29 creditors threatened court action in a bid to recover what is due to them. So dire is the situation, that the entity had to vacate its rented headquarters in Windhoek’s northern industrial area because it could not fulfil its rental obligations.jemima@namibiansun.com

Govt plays ‘ping-pong’ with Agribusdev

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Namibian Sun 2025-03-07

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Govt plays ‘ping-pong’ with Agribusdev

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Namibian Sun 2025-03-07

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