Ballotti quits FNB, returns to NIPDB after Swapo nomination
Bank parts ways with political prospect
His nomination for parliament at the Swapo electoral college last month left Dino Ballotti with tough career decisions to make.
Swapo parliamentary candidate Dino Ballotti has parted ways with FNB Namibia - allegedly over the bank’s discomfort regarding his new political position - and has rejoined the Namibia Investment Promotion and Development Board (NIPDB).
Just two months ago, Ballotti joined FNB as head of business and public sector banking, before he was nominated to the Swapo parliamentary list as one of Netumbo Nandi-Ndaitwah’s 10 picks.
He will return to NIPDB today as a technical consultant to the company’s executive committee, having previously held the position of executive director of micro, small and medium enterprise (MSME) innovation and acceleration at the same institution.
It is not clear whether the position existed at NIPDB before his latest recruitment, and whether the company underwent a transparent recruitment process other interested Namibians could participate in.
Questions sent to NIPDB CEO Nangula Uaandja remained unanswered.
Lifeline
Uaandja informed her staff during a meeting yesterday that Ballotti will be rejoining the company, starting today.
Word in the NIPDB corridors is that Ballotti was thrown a lifeline after the bank refused to associate itself with an active politician, who is destined for parliament next year. The highly-rated business executive ranks 28th on the Swapo list and might have been unemployed for the next five months, with new lawmakers only expected to take office in March 2025.
If Swapo wins the November election, Ballotti is being touted for an appointment in the ministry of trade – either as minister or deputy.
Ballotti yesterday confirmed his exit from FNB, and that he has rejoined NIPDB. He explained that banks are apolitical, hence the abrupt change of jobs. He and FNB mutually agreed to end the short-lived relationship, he said.
Ballotti added that he had a great relationship with NIPDB when he left, which made it easy for the two parties to reunite again.
“Banks in general are apolitical, no different [with] FNB. After the announcement of my name on the Swapo list, the leadership of the bank and I had a conversation where it was mutually agreed that I would be redeployed in the business to safeguard any risk and perceived risk, owing to my portfolio which oversaw both business and public sector banking,” he explained.
“After a few weeks, I decided that it was in the best interest of all parties for me to resign. The bank was supportive from the announcement to my final day, and I appreciate the leadership for how they handled everything. I only have good things to say about FNB.”
Ballotti added: “I left NIPDB on great terms, and will always remain a supporter and proponent of the mandate and work undertaken by the board. After informing [Uaandja] of my decision to step down from the bank, she enquired about my availability to rejoin and see through a few projects... I will be doing contract work for NIPDB, with very clear deliverables set out.”
[email protected] / [email protected]
Just two months ago, Ballotti joined FNB as head of business and public sector banking, before he was nominated to the Swapo parliamentary list as one of Netumbo Nandi-Ndaitwah’s 10 picks.
He will return to NIPDB today as a technical consultant to the company’s executive committee, having previously held the position of executive director of micro, small and medium enterprise (MSME) innovation and acceleration at the same institution.
It is not clear whether the position existed at NIPDB before his latest recruitment, and whether the company underwent a transparent recruitment process other interested Namibians could participate in.
Questions sent to NIPDB CEO Nangula Uaandja remained unanswered.
Lifeline
Uaandja informed her staff during a meeting yesterday that Ballotti will be rejoining the company, starting today.
Word in the NIPDB corridors is that Ballotti was thrown a lifeline after the bank refused to associate itself with an active politician, who is destined for parliament next year. The highly-rated business executive ranks 28th on the Swapo list and might have been unemployed for the next five months, with new lawmakers only expected to take office in March 2025.
If Swapo wins the November election, Ballotti is being touted for an appointment in the ministry of trade – either as minister or deputy.
Ballotti yesterday confirmed his exit from FNB, and that he has rejoined NIPDB. He explained that banks are apolitical, hence the abrupt change of jobs. He and FNB mutually agreed to end the short-lived relationship, he said.
Ballotti added that he had a great relationship with NIPDB when he left, which made it easy for the two parties to reunite again.
“Banks in general are apolitical, no different [with] FNB. After the announcement of my name on the Swapo list, the leadership of the bank and I had a conversation where it was mutually agreed that I would be redeployed in the business to safeguard any risk and perceived risk, owing to my portfolio which oversaw both business and public sector banking,” he explained.
“After a few weeks, I decided that it was in the best interest of all parties for me to resign. The bank was supportive from the announcement to my final day, and I appreciate the leadership for how they handled everything. I only have good things to say about FNB.”
Ballotti added: “I left NIPDB on great terms, and will always remain a supporter and proponent of the mandate and work undertaken by the board. After informing [Uaandja] of my decision to step down from the bank, she enquired about my availability to rejoin and see through a few projects... I will be doing contract work for NIPDB, with very clear deliverables set out.”
[email protected] / [email protected]
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