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PLACED ON SUSPENSION: Suspended Namibia Industrialisation Development Agency CEO, Mihe Goamab II.
PLACED ON SUSPENSION: Suspended Namibia Industrialisation Development Agency CEO, Mihe Goamab II.

Gaomab II: Reasons for Nida boss suspension revealed

Ogone Tlhage
The suspension of Namibia Industrialisation Development Agency (Nida) CEO Mihe Gaomab II last week is meant to accelerate his disciplinary process, whose progress he has allegedly been ‘blocking’.

“He was blocking the progress of the inquiry into his performance,” a senior official familiar with the matter told Namibian Sun.

Nida board chairperson Sebby Kankondi made the announcement to the agency’s staff members in a memo last week.

“The board of directors hereby confirms the suspension of the CEO with immediate effect, pending conclusion of an internal process. Reasons for his suspension remain confidential, therefore cannot be disclosed,” it read.

Calls for calm

“The board calls on calm and focus, even during this time. Assurance can be accorded to both management and staff that the agency will remain procedural and fair in all engagements with the CEO regarding this matter and the process will be concluded within reasonable time,” Kankondi wrote.

The board also announced the appointment of Phillip Namundjebo as the acting CEO.

Gaomab, formerly the CEO of the Namibia Competition Commission, was appointed as Nida CEO in April 2021. As of October 2022, he was on his third probation extension, having failed to impress during the first two.

The first six-month probation period ended in October 2021, with the board allegedly unsatisfied with his performance.

Two more probationary extensions, the latest ending last October, were then agreed to.

"The second probation was agreed to because the board felt, maybe because of Covid-19's disruption, the CEO couldn’t perform optimally. It was on those grounds that it was extended," a board member said at the time.

Too much left undone

At the core of the board’s displeasure is Gaomab’s alleged failure to develop an integrated business plan and ensure it was ready for approval. He was also tasked with securing a N$100 million loan, for which government was to provide a guarantee.

Gaomab is also accused of failing to properly transfer assets and staff of the Namibia Development Corporation (NDC) and the Offshore Development Company (ODC) to Nida.

NDC and ODC were incorporated into Nida after Cabinet approved the merger in 2015.

Making matters worse is Nida’s acute financial challenges, with Namibian Sun reporting last year that the company owed the Namibia Health Plan (NHP) medical aid fund a month's contributions – to the tune of about N$700 000, which were meant to be settled before 7 September 2022.

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Namibian Sun 2024-11-07

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Premier League: Fulham 2 vs 1 Brentford Katima Mulilo: 22° | 36° Rundu: 20° | 31° Eenhana: 21° | 31° Oshakati: 21° | 31° Ruacana: 20° | 31° Tsumeb: 19° | 26° Otjiwarongo: 18° | 23° Omaruru: 20° | 32° Windhoek: 17° | 29° Gobabis: 19° | 28° Henties Bay: 16° | 22° Wind speed: 19km/h, Wind direction: SW, Low tide: 12:28, High tide: 06:39, Low Tide: 00:56, High tide: 18:52 Swakopmund: 15° | 18° Wind speed: 19km/h, Wind direction: W, Low tide: 12:26, High tide: 06:37, Low Tide: 00:54, High tide: 18:50 Walvis Bay: 15° | 24° Wind speed: 23km/h, Wind direction: W, Low tide: 12:26, High tide: 06:36, Low Tide: 00:54, High tide: 18:49 Rehoboth: 20° | 30° Mariental: 22° | 35° Keetmanshoop: 24° | 36° Aranos: 20° | 34° Lüderitz: 14° | 24° Ariamsvlei: 22° | 36° Oranjemund: 15° | 24° Luanda: 25° | 27° Gaborone: 19° | 27° Lubumbashi: 17° | 33° Mbabane: 13° | 24° Maseru: 12° | 25° Antananarivo: 14° | 30° Lilongwe: 22° | 29° Maputo: 19° | 26° Windhoek: 17° | 29° Cape Town: 17° | 22° Durban: 16° | 23° Johannesburg: 15° | 26° Dar es Salaam: 26° | 31° Lusaka: 20° | 31° Harare: 17° | 30° Currency: GBP to NAD 22.5 | EUR to NAD 18.76 | CNY to NAD 2.44 | USD to NAD 17.46 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.26 | EGP to NAD 0.35 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.64 | ZWL to NAD 0.04 | BRL to NAD 3.07 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 133.26 | USD to AOA 909.05 | USD to BWP 13.4 | USD to EGP 49.21 | USD to KES 129.2 | USD to NGN 1668.91 | USD to ZAR 17.47 | USD to ZMW 26.9 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1858.03 Down -1.09% | Casablanca Stock Exchange (CSE) MASI 14296.93 Down -0.02% | Egyptian Exchange (EGX) 30 Index 31045.26 Up +0.82% | Botswana Stock Exchange (BSE) DCI 9878.53 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 663.91/OZ DOWN -0.0001 | Copper US$ 4.33/lb UP +2.55% | Zinc US$ 3 072.50/T UP 3.11% | Brent Crude Oil US$ 74.95/BBP DOWN -0.0073 | Platinum US$ 977.42/OZ DOWN -0.0069 Sport results: Premier League: Fulham 2 vs 1 Brentford Weather: Katima Mulilo: 22° | 36° Rundu: 20° | 31° Eenhana: 21° | 31° Oshakati: 21° | 31° Ruacana: 20° | 31° Tsumeb: 19° | 26° Otjiwarongo: 18° | 23° Omaruru: 20° | 32° Windhoek: 17° | 29° Gobabis: 19° | 28° Henties Bay: 16° | 22° Wind speed: 19km/h, Wind direction: SW, Low tide: 12:28, High tide: 06:39, Low Tide: 00:56, High tide: 18:52 Swakopmund: 15° | 18° Wind speed: 19km/h, Wind direction: W, Low tide: 12:26, High tide: 06:37, Low Tide: 00:54, High tide: 18:50 Walvis Bay: 15° | 24° Wind speed: 23km/h, Wind direction: W, Low tide: 12:26, High tide: 06:36, Low Tide: 00:54, High tide: 18:49 Rehoboth: 20° | 30° Mariental: 22° | 35° Keetmanshoop: 24° | 36° Aranos: 20° | 34° Lüderitz: 14° | 24° Ariamsvlei: 22° | 36° Oranjemund: 15° | 24° Luanda: 25° | 27° Gaborone: 19° | 27° Lubumbashi: 17° | 33° Mbabane: 13° | 24° Maseru: 12° | 25° Antananarivo: 14° | 30° Lilongwe: 22° | 29° Maputo: 19° | 26° Windhoek: 17° | 29° Cape Town: 17° | 22° Durban: 16° | 23° Johannesburg: 15° | 26° Dar es Salaam: 26° | 31° Lusaka: 20° | 31° Harare: 17° | 30° Economic Indicators: Currency: GBP to NAD 22.5 | EUR to NAD 18.76 | CNY to NAD 2.44 | USD to NAD 17.46 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.26 | EGP to NAD 0.35 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.64 | ZWL to NAD 0.04 | BRL to NAD 3.07 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 133.26 | USD to AOA 909.05 | USD to BWP 13.4 | USD to EGP 49.21 | USD to KES 129.2 | USD to NGN 1668.91 | USD to ZAR 17.47 | USD to ZMW 26.9 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1858.03 Down -1.09% | Casablanca Stock Exchange (CSE) MASI 14296.93 Down -0.02% | Egyptian Exchange (EGX) 30 Index 31045.26 Up +0.82% | Botswana Stock Exchange (BSE) DCI 9878.53 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 663.91/OZ DOWN -0.0001 | Copper US$ 4.33/lb UP +2.55% | Zinc US$ 3 072.50/T UP 3.11% | Brent Crude Oil US$ 74.95/BBP DOWN -0.0073 | Platinum US$ 977.42/OZ DOWN -0.0069