Wednesday 14 April 2021
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Dust surrounding the MTC share sale saga is refusing to settle

A board member from Namibia Post Telecommunications Holdings(NPTH) Leilanie Hochobeb held secret talks and leaked sensitive board information to benefit a company that at the time was involved with NPTH to sell their stake in MTC .
The Patriot can reveal that Hochobeb has been in contact with Helios Investments regarding the 34% shares without a mandate from the board.
Helios Investments, a British based private equity firm, it has been acting on behalf of Brazil based firm Samba Luco.
After a 2 year spat which should have been 6 months, Samba Luco is still awaiting payment for the sale of its shares in MTC.
In essence the delay in payment must be laid at the feet of a dysfunctional  NPTH Board who seem to at times have forgotten that they derive the real mandate from the people of Namibia.
It appears sadly that they too have forgotten that the people are the real shareholders and not the minister of MICT.
Consequently this week we were exposed to favours being requested by individual board members for funding for own projects.
And that funding is requested from an international institution of excellent repute while dangling political relevance as a carrot.

Although politicians have been accused of being ringleaders in the share saga, new information obtained by The Patriot this week shows that, Hochobeb has been keeping Soyoye abreast with NPTH discussions pertaining to the MTC shares.
It is not clear why Hochobeb would take an interest in Helios’ perceived or real interest to acquire the shares.
What is clear however, is the fact that she crossed a line.
Namibia’s endless struggle seems to be in the heartland of governance, integrity and managing conflicts.
The country has had the privilege of hosting transparency and governance conferences without fail yet we can’t incalcate the values often shared nor can we impliment them in practice. It is not a matter of education; its a matter of ethics and principle.
When you serve on a board, you serve the interests of the shareholder and in the case of public entities that shareholder is the people because they own the assets.
For your service you are handsomely rewarded with a board fee and an enhanced business profile. That ought to be enough.
Perhaps it is time Namibians meet around a national round table and articulate the national values we seek to espouse as a nation.
We must invite to that table, the rich and the poor.
The current generation of leaders and the future generation should engage and ask ourselves whether this is the Namibia we want. Without doubt we can and must do better.

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