TransNamibu2019s shocking meltdown
TransNamibu2019s shocking meltdown

TransNamib’s shocking meltdown

Festus Nakatana
The Namibia Transport and Allied Workers Union (Natau) has become the latest organisation to hit out at the TransNamib board for alleged interference.

The Paul Smit-led board has been accused of “running the show” and sidelining management by conducting executive business. The union’s attack on the outgoing TransNamib board comes hot on the heels of a weekly newspaper reporting on the bitter standoff between Smit and deputy transport minister Sankwasa James Sankwasa. Confidente reported last week that Sankwasa reprimanded Smit over the alleged abuse of authority. According to the report, Smit reportedly wanted the parastatal to purchase an air ticket for his wife to the United States. He also reportedly wanted board fees increased without approval from the line minister. It appears to us that corporate governance is a serious issue of concern at TransNamib. Unfortunately those tasked with bringing about change and ensuring good governance are failing and are more interested in washing their dirty linen in public. Both the government, as the shareholder, and the board have failed to put a firm hand on the internal wrangling rocking this key parastatal.

This has made it extremely difficult for the incoming board to provide a sense of leadership. It is clear that all is not well at TransNamib at the moment. It is further regrettable that government has failed to invoke its authority to mend this failed relationship. There is now a huge weight of expectation on the incoming board to perform wonders and bring sound and incorruptible leadership to the rail parastatal, which has for too long been a drain on Namibian taxpayers. These endless internal battles do not only pose an ongoing threat to TransNamib, but also do not reflect positively on the country’s image. It is a festering sore to see this level of infighting at state-owned enterprises, and more so when those tasked with ensuring good governance fail at it spectacularly.

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Namibian Sun 2024-09-21

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LaLiga: Deportivo Alaves 2 vs 1 Sevilla | Leganés 0 vs 2 Athletic Club | Real Betis 2 vs 1 Getafe SerieA: Hellas Verona 2 vs 3 Torino | Cagliari 0 vs 2 Empoli European Championships Qualifying: Stoke City 1 vs 3 Hull City English Championship: Stoke City 1 vs 3 Hull City Katima Mulilo: 20° | 36° Rundu: 22° | 37° Eenhana: 18° | 38° Oshakati: 18° | 37° Ruacana: 18° | 36° Tsumeb: 22° | 35° Otjiwarongo: 15° | 33° Omaruru: 15° | 35° Windhoek: 15° | 31° Gobabis: 12° | 32° Henties Bay: 11° | 21° Wind speed: 18km/h, Wind direction: NW, Low tide: 07:11, High tide: 13:35, Low Tide: 19:41, High tide: 01:54 Swakopmund: 13° | 15° Wind speed: 21km/h, Wind direction: N, Low tide: 07:09, High tide: 13:33, Low Tide: 19:39, High tide: 01:52 Walvis Bay: 11° | 20° Wind speed: 21km/h, Wind direction: N, Low tide: 07:09, High tide: 13:32, Low Tide: 19:39, High tide: 01:51 Rehoboth: 11° | 32° Mariental: 12° | 34° Keetmanshoop: 11° | 31° Aranos: 11° | 33° Lüderitz: 13° | 21° Ariamsvlei: 10° | 30° Oranjemund: 14° | 30° Luanda: 22° | 24° Gaborone: 12° | 25° Lubumbashi: 19° | 35° Mbabane: 8° | 12° Maseru: 4° | 17° Antananarivo: 11° | 32° Lilongwe: 19° | 30° Maputo: 14° | 22° Windhoek: 15° | 31° Cape Town: 11° | 24° Durban: 13° | 18° Johannesburg: 6° | 19° Dar es Salaam: 23° | 30° Lusaka: 19° | 29° Harare: 13° | 28° Currency: GBP to NAD 23.26 | EUR to NAD 19.53 | CNY to NAD 2.48 | USD to NAD 17.5 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.16 | RUB to NAD 0.19 | INR to NAD 0.21 | USD to DZD 131.91 | USD to AOA 927.77 | USD to BWP 13.17 | USD to EGP 48.46 | USD to KES 128.48 | USD to NGN 1593.37 | USD to ZAR 17.41 | USD to ZMW 26.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1831.97 Down -0.38% | Casablanca Stock Exchange (CSE) MASI 14246.86 Up +0.44% | Egyptian Exchange (EGX) 30 Index 30937.69 Up +1.96% | Botswana Stock Exchange (BSE) DCI 9651.25 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 622.23/OZ UP +1.35% | Copper US$ 4.31/lb DOWN -0.0032 | Zinc US$ 2 884.80/T DOWN -0.23% | Brent Crude Oil US$ 74.74/BBP DOWN -0.0019 | Platinum US$ 976.09/OZ DOWN -0.0067 Sport results: LaLiga: Deportivo Alaves 2 vs 1 Sevilla | Leganés 0 vs 2 Athletic Club | Real Betis 2 vs 1 Getafe SerieA: Hellas Verona 2 vs 3 Torino | Cagliari 0 vs 2 Empoli European Championships Qualifying: Stoke City 1 vs 3 Hull City English Championship: Stoke City 1 vs 3 Hull City Weather: Katima Mulilo: 20° | 36° Rundu: 22° | 37° Eenhana: 18° | 38° Oshakati: 18° | 37° Ruacana: 18° | 36° Tsumeb: 22° | 35° Otjiwarongo: 15° | 33° Omaruru: 15° | 35° Windhoek: 15° | 31° Gobabis: 12° | 32° Henties Bay: 11° | 21° Wind speed: 18km/h, Wind direction: NW, Low tide: 07:11, High tide: 13:35, Low Tide: 19:41, High tide: 01:54 Swakopmund: 13° | 15° Wind speed: 21km/h, Wind direction: N, Low tide: 07:09, High tide: 13:33, Low Tide: 19:39, High tide: 01:52 Walvis Bay: 11° | 20° Wind speed: 21km/h, Wind direction: N, Low tide: 07:09, High tide: 13:32, Low Tide: 19:39, High tide: 01:51 Rehoboth: 11° | 32° Mariental: 12° | 34° Keetmanshoop: 11° | 31° Aranos: 11° | 33° Lüderitz: 13° | 21° Ariamsvlei: 10° | 30° Oranjemund: 14° | 30° Luanda: 22° | 24° Gaborone: 12° | 25° Lubumbashi: 19° | 35° Mbabane: 8° | 12° Maseru: 4° | 17° Antananarivo: 11° | 32° Lilongwe: 19° | 30° Maputo: 14° | 22° Windhoek: 15° | 31° Cape Town: 11° | 24° Durban: 13° | 18° Johannesburg: 6° | 19° Dar es Salaam: 23° | 30° Lusaka: 19° | 29° Harare: 13° | 28° Economic Indicators: Currency: GBP to NAD 23.26 | EUR to NAD 19.53 | CNY to NAD 2.48 | USD to NAD 17.5 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.16 | RUB to NAD 0.19 | INR to NAD 0.21 | USD to DZD 131.91 | USD to AOA 927.77 | USD to BWP 13.17 | USD to EGP 48.46 | USD to KES 128.48 | USD to NGN 1593.37 | USD to ZAR 17.41 | USD to ZMW 26.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1831.97 Down -0.38% | Casablanca Stock Exchange (CSE) MASI 14246.86 Up +0.44% | Egyptian Exchange (EGX) 30 Index 30937.69 Up +1.96% | Botswana Stock Exchange (BSE) DCI 9651.25 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 622.23/OZ UP +1.35% | Copper US$ 4.31/lb DOWN -0.0032 | Zinc US$ 2 884.80/T DOWN -0.23% | Brent Crude Oil US$ 74.74/BBP DOWN -0.0019 | Platinum US$ 976.09/OZ DOWN -0.0067