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Friday 18 January 2019
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Ally Angula quits NPTH

…Accuses ICT ministry of governance flaws and failures
…as GIPF confirms interest in MTC shares

 

Namibia Post and Telecommunications Holdings(NPTH) chairperson Ally Angula has resigned as a board member of the telecommunications holding entity this week.
Angula, in a resignation letter written to Minister of Information and Communication Technology Stanley Simataa, said she decided to step down due to governance flaws and failures by the ICT ministry.
“Due to continued governance flaws and failures by the Ministry of ICT in the running of NPTH group who has compromising performance as well as has led to decisions taken that have destroyed value in some of the NPTH subsidiaries.
I am left with no option but to resign with immediate effect from my position as a Board Member of NPTH as well as the position of Chairperson,” she said in the letter that was also copied to Public Enterprises minister Leon Jooste, NPTH company secretary Daniel Tjongarero the company’s acting CO Antoinette Mckay.

 
She added: The team under the leadership of Ms. Antoinette Mckay achieved a lot with very limited manpower due to the demanding process which has made it difficult to recruit staff and I would like to thank the NPTH team for all their hard work over the years.”
Her resignation comes months after she was fired from the board by former ICT minister Tjekero Tweya.
Tweya removed Angula from the board on 16 August 2017.
“The acts you have committed, and such acts brought about the distrust and therefore, as the appointing authority, I view such behaviour as unacceptable. In the aforesaid letter, you were afforded an opportunity to respond to my request, which you chose not to comply with, which non-compliance is only detrimental to yourself, and therefore amounts to your waiver of your right to be heard,” Tweya said in the dismissal letter.
But in an unprecedented move, one that even caught Tweya with his pants down, President Hage Geingob order him to reinstate Angula.
Angula has often been cited by Geingob as one of the Namibian businesswomen who are thriving in the business world.
Last year Cabinet approved the draft Namibia Post and Telecommunication Holdings (NPTH) Dismantling Bill that would result in NPTH subsidiaries Telecom and NamPost becoming independent state-owned enterprises.
In 2015 former ICT minister Tjekero Tweya proposed that NPTH should be dismantled and cease to exist as a holding company.
This would mean all NPTH subsidiaries such as NamPost, Telecom and MTC would become fully-fledged, independent state owned enterprises (SOEs).
These companies will become stand-alone entities while buildings owned by NPTH and cellular service provision giant MTC, will be sold off to the occupants.
NPTH, as a holdings company, has been instrumental in keeping Telecom Namibia’s operations afloat. In 2015 the holdings company injected N$400 million into Telecom Namibia, to avoid the operator from defaulting on its loan repayments, including a bond.
NPTH has assets valued at about N$10 billion, according to its financials for the period ended 30 September 2014.
Angula said the company has paid N$3 billion in dividends to government over the past 10 years.
Financial statements from the company show that NPTH paid N$205 million as dividends to government in 2014.
NTPH recorded a N$417 million profit in the period under review, up from the previous year’s N$334.9 million.
GIPF confirms MTC interest
Angula’s run-ins with Tweya also hovered around the much-sought after MTC shares. She has in the past faced accusations of blocking Tweya’s directives when it comes to NPTH.
This week, GIPF came out of its shell to confirm that it is indeed looking at acquiring a stake in MTC.
GIPF in a statement issued by its Manager for Stakeholder’s Engagement Daylight Ekandjo said “we are in talks with the relevant stakeholders that could see GIPF acquiring a substantial shareholding in MTC.
This process will follow a due diligence to determine if we want to buy the shares which will be based on merit,” said Ekandjo.
“Furthermore as indicated, GIPF is required under Pension Fund Regulations to invest locally, and a potential investment in MTC could help us in fulfilling that objective.
We are also of the opinion that should the due diligence find the MTC shares feasible, it would be a good investment which will be done in our own name and not on behalf of any other entity,” said Ekandjo.




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