„Kapia must go"

Saturday 23rd of July 2005
PLUS

The Congress of Democrats and the National Society for Human Rights (NSHR) both called for the dismissal of Paulus Kapia, who has since March 2005 been elevated to deputy Minster of works, transport and communication. Kapia was one of the directors of Avid Investments, a black empowerment company that only started in 2004. Kapia is also the leader of the SWAPO Youth League, which holds about 80% ownership in Avid. The company allegedly exercised "political pressure" on the Social Security Commission (SSC) to obtain an N$30 million loan to invest in order to draw good interest rates. The loan was supposed to be paid back to the SCC in May, but that did not happen. The SSC last week went to Court asking for a liquidation of Avid. Some N$ 20 million landed in a fund in Uruguay, according to court documents and was handled by a certain Alan Rosenberg. This consultant mentioned a further US$ 6 million of Avid Investments, which he also paid into a foreign investment fund. Next Monday, Kapia and 3 other directors of Avid must explain in the High Court, where the money went and why it was not paid back to the SSC.

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