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Vol 52 No 11

Published 27th May 2011


Namibia

Where the BEE sucks

A trial in June could mark the start of a reckoning for massive fraud in the public sector workers’ pension fund

Black Economic Empowerment (BEE) company Avid Investments collapsed in 2004, losing 30 million Namibian dollars (US$4.3 mn.) to the embezzlement of Social Security Commission (SSC) funds, but the matter will reach the High Court in Windhoek only on 1 June. The scandal has taken this long to come to court because it involves friends, relations and allies of founding President Sam Nujoma, say angry trades union officials and other activists (AC Vol 51 No 20).

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