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Namibia: Gustavo Elements Methods With Investec

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Namibia: Gustavo Elements Methods With Investec

2020-03-25 15:22:30

INVESTEC Asset Administration Namibia has misplaced two of its prime leaders – the managing director and the purchasers’ director – all accused of alleged corruption and receiving kickbacks in Namibia’s greatest fishing sector scandal.

On this scandal, prime authorities officers and their cronies are stated to have obtained thousands and thousands of {dollars} in change for fishing quotas.

Gwynneth Rukoro, the spokesperson of Investec, final week confirmed the resignation of Ricardo Gustavo, the corporate’s purchasers’ director.

Investec manages at the least N$17,2 billion of state funds – Authorities Establishments Pension Fund (N$16 billion), Social Safety Fee (N$800 million), Financial institution of Namibia (N$100 million) and N$300 million from the Guardian Fund.

Earlier than his resignation, Gustavo was suspended after information broke that he was implicated within the corruption scandal. At the moment, Investec stated it was because of the critical nature of the allegations that he was being suspended.

Investec had additionally stated it was conducting an inner investigation on the matter. Nonetheless, it’s but to launch its findings.

Former managing director James Hatuikulipi can be implicated within the Fishrot case.

Rukoro stated the corporate has obtained and accepted the resignation.

Gustavo was arrested late November final 12 months, with former fisheries minister Bernhard Esau. He and Esau have been in jail since. His LinkedIn profile says he was with Investec Namibia since 2013 till his suspension and arrest final 12 months.

His profile additionally reveals that he labored at Alexander Forbes, as a enterprise growth supervisor. The identical profile additionally reveals that he’s an ‘entrepreneur’ at Tunga Investments, the place he has been since 2012.

The Enterprise and Mental Property Authority enterprise registry reveals that at the least 4 firms bear the title Tunga Investments and The Namibian is unable, at this stage, to precisely inform which firm he labored for or belongs to him, however all firms have been registered round 2012 or earlier.

One of many firms that might be near him is Tunga Funding Holdings (Pty) Ltd, a development and property growth firm registered with the Building Industries Federation of Namibia.

Gustavo’s co-accused within the corruption case consists of former justice minister Sacky Shanghala, former fisheries minister Esau, Tamson ‘Fitty’ Hatuikulipi, Pius Mwatelulo, and the previous chief government officer of the Nationwide Fishing Company of Namibia, Mike Nghipunya.

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