Monday 12 April 2021
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Fishing quotas that stink

…as second warrant of arrest is issued for Neumbo


By Staff Reporter

The arrest of businesswomen Sharon Neumbo last week has opened a can of worms and could lead to the exposure of a well-orchestrated syndicate in Namibia’s fishing industry. This is so because an Icelandic citizen ( whose name is known to this publication ) who has since left the country has handed over a hard drive which contains detailed information about who are considered as the real owners of Fishcor. This hard drive was handed over allegedly by Neumbo to former Anti Corruption Commissioner boss, Nelius Becker.
Neumbo is the chairlady of the Sinco Board, a company which netted a cool N$ 145 103,758 over a period of 5 years as part of a joint venture deal which has since gone sour between three Namibian companies and Tidle Wave Investments.
Arrested during a board meeting on Friday last week by the Commercial Branch of NamPol, Neumbo spent one night in prison after hell was raised allegedly by Inspector General Ndeitunga.
Klein Windhoek Police Station became the hive of numerous phone calls to secure Neumbo’s release and bail was secured only on Saturday morning.
While details remain sketchy as to the exact charge for last week’s arrest, it is alleged that Neumbo had N$7 million siphoned out of an FNB account in the hope of securing a drought relief tender.
Neumbo is a close friend and a former bridesmaid to fisheries minister’s daughter Ndapandula.  She is currently out on a N$ 5000 bail and is scheduled to appear in court on 21 September 2019.
Inspector Tsabo is the investigation officer and is said to have objected to the “general’s interference”.
After spending less than 24 hours in jail, Neumbo was released on bail at 08h32 on Saturday.
Officials at the Anti Corruption Commission who preferred not to be named are of the view that Neumbo’s bail amount is “peanuts”, considering the weight of the case in which she is implicated.
On Thursday afternoon, The Patriot was informed that a second warrant of arrest has been     issued for Neumbo, this one dealing with her amendment of the shareholders of Esja Investments.  On 2 August, Esja ordered the removal of Mino Gariseb as director. However, Neumbo in an email written to all members of the joint venture company informed shareholders that she is now the new director instead of Gariseb.
This illegal amendment even netted officials at BIPA as the original CM 29 was removed from the file and only copies remained.
Neumbo is expected to be charged with the forging and amending CM29, despite her not having the power to do so.
For some odd reason, BIPA accepted the amendments.
Seeking clarity as to the whereabouts of Neumbo and whether an arrest was made, ACC boss feigned ignorance stating  “No. I just read about her [Neumbo] today in the media. Maybe it’s the police. I don’t know who arrested her. It’s not [the] ACC. We are just investigating issues relating to issues of [fishing] quotas.  That’s all. Who is involved is not a matter for discussion,” ACC boss, Paulus Noa said when queried about the matter on Thursday.
Nelius Becker, however, was tight-lipped on the issue.
“I am not commenting on the matter,” he said. Becker, according those in the know, is busy with a massive investigation into the two ministers Shangala and Esau.

Fishy vessel
Last week, The Patriot reported that Namibian business partners who brokered a deal with Icelandic investors to harvest and market horse mackerel in the country gobbled some N$400 million which they have not disclosed how it was used.
The partnership agreement was struck between three Namibian companies namely Sinco Fishing, Yukor, and Epango and the Icelandics [Samherji HF] back in 2013 who together formed a company called Arcticnam in 2013.
Last month, Neumbo dragged four Icelandic companies owned by Samherji HF to court last month after it tried to sell a N$400 million vessel bought by the joint venture Articnam.

The backstory
Namibian business partners who brokered a deal with Icelandic investors to harvest and market horse mackerel in the country.
The Patriot has recently reported that a management agreement was also signed between Tidle Wave Investments and Esja whereas the latter would manage the business of the joint venture on a commercially viable and sustainable basis.
The partners further struck a loan agreement which was entered into between a Cyprus based company known as Heinaste Investment and Tidle Wave Investments. However, the local partners rushed to court when the foreigners opted to sell off their fishing vessel, the “HMV Heinaste”, after it became non-profitable.
A shareholder agreement concluded between Yukor, Sinco, Epango and Tidle Wave Investments Eighty Seven in respect of Tidle Wave Investments Ninety Two (Articnam Investments) being the investment company was concluded for the acquisition of the Heinaste (vessel).
The Patriot is reliably informed that the vessel was now lying dormant after the Namibians sold off their fishing quota to a company identified as Erongo Marine Enterprises.
The Icelandics owned a company known as Esja. Epango was represented by Mino Gariseb, while Sinco was represented by Sharon Neumbo and Yukor’s director was Olavi Hamutumwa.

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