Elections

 

Bernhard Esau wins access to assets in High Court

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Bernhard Esau, the former Minister of Fisheries and Marine Resources, has won a High Court case allowing him to access some of his assets that have been under a restraint order.

His lawyer, Florian Beukes, has confirmed the success to nbc News. 

The decision, handed down today, permits Esau to use these assets to cover his legal fees in the ongoing Fishrot case.

The assets had been previously restrained as part of the broader investigation into alleged corruption and bribery involving millions of dollars.

Non-banking financial sector assets grow by 14% despite economic downturn

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The Non-banking financial sector assets have grown by 14% despite an economic downturn, which translates to N$370 billion as of December 2021.

The Chief Executive Officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Matomola, revealed this during the launch of its 2022 annual report.

Matomola says the increase in the total of the sector's assets was due to improved performance in the equity markets and does not pose risk to the financial system.