First lady pursues Angula over N$864 000

OGONE TLHAGE WINDHOEKThe former deputy executive director in the finance ministry, Ally Angula, will have to cough up over N$800 000 to pay back First Lady Monica Geingos.The two businesswomen are close allies.This stems from a loan of N$250 000 extended to Angula by Geingos on 29 November 2016. The initial loan accrued N$100 172.95 in interest, of which no payments had been made to reduce the principal loan amount.A second loan of N$417 000 was incurred by Angula on 29 May 2017, accruing interest of N$96 876.98, bringing the total owed to N$864 049.93.Monthly instalments“The debtor will reimburse the creditor in an amount of N$864 049.93. The aforementioned amount is to be paid in monthly instalments of N$ 5 000 commencing from the end of December 2020 until the full amount has been paid,” an agreement signed by the two stated.In the event Angula is unable to pay Geingos, the entire amount would need to be settled, the agreement read.“The creditor shall be entitled to a writ of execution without the need to re-issue summons on the entire amount in the event where the debtor fails to pay the monthly amount,” the agreement said.Angula is currently the managing partner in CFO Namibia, a chartered accountancy and financial advisory firm.During her tenure with the finance ministry, some of her tasks included managing the state account and national budgeting.

First lady pursues Angula over N$864 000

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Namibian Sun 2025-04-04

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First lady pursues Angula over N$864 000

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Namibian Sun 2025-04-04

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