Current track



Mineworkers investment board chair rakes in N$2m from union

Written by on May 20, 2024

Some Mineworkers Union of Namibia (MUN) leaders have questioned payments of around N$2 million made to Johannes Ndeutepo, the chairperson of a mineworkers’ investment company owned by the same union.

The scrutiny stems from concerns of potential conflict of interest since Ndeutepo reports to the same union that hired him for private work.

The Swapo affiliated MUN was in the news last week when its current bosses announced the suspension of former president Ismael Kasuto and former vice president Desley Samsob, a move described by some as a union style coup d’état.

Now, concerns have emerged around how union bosses have managed funds of the country’s biggest mining union’s business empire, valued at N$750 million.

One of the transactions that has been flagged by some unionists involves Namibia Mineworkers Investment Holdings chairperson Ndeutepo and his dealings with the Namibia Miners Investment Trust account (Namit).

Namit is the umbrella entity that owns the Namibia Mineworkers Investment Holdings.

Documents show that Ndeutepo was hired by MUN to provide data collection services for the union.

He was paid by Namit, which was established to support MUN members and their dependants.

Ndeutepo confirmed providing his services in his personal capacity but denied any wrongdoing.

Records obtained by The Namibian show that Ndeutepo received seven payments between 30 June 2020 to December 2020, totalling N$2 million.

The first half of the seven-month instalment period saw disbursements on 30 June 2020 (N$390 000), 16 July 2020 (N$560 000), and 17 August 2020 (N$370 000).

The second half of the instalment period saw payments to Ndeutepo on 14 September 2020 (N$230 000), 6 October 2020 (N$230 000), 5 November 2020 (N$215 000) and 1 December 2020 (N$275 000).

These transactions have sparked concerns within the union, with some members declaring his services a conflict of interest. Ndeutepo previously served as a trustee of the union company.

A person familiar with the finances of the trust questioned why the trust paid Ndeutepo since the MUN itself receives between N$1,6 million to N$1,8 million monthly from membership fees.

The person raised concerns on why Ndeutepo was doing private work with an entity that he reports to.

Ndeutepo’s detractors want to know when the tender was advertised, candidates shortlisted and whether this transaction was declared to relevant authorities in the union hierarchy.

A source who supports Ndeutapo claimed that the businessman is caught in a power struggle at the MUN.

Johannes Ndeutepo


Ndeutepo told The Namibian on Saturday that all payments made to him were in line with the organisation’s rules.

“All payments made to myself, whether it’s during the time I was a trustee or the time I was not, have all been made in line with the organisation’s policy or for work quoted and executed by myself,” he said.

“I have never participated in a tender or bid for my services for any institution. I, however, provide quotations to those interested in my services and if they accept them, then I carry out the task as required.

“On conflict of interest, there may be such concerns due to lack of understanding to start with. Firstly, I don’t perform private work for institutions that I serve as director or trustee because I then have an obligation to render my services to those institutions while being only remunerated for my time in line with policies of that institution.

“The fact that I am the chairman of the company owned by the trust which is founded by the union doesn’t mean that I should perform work for the trust or union free of charge. Hence, one cannot construe a payment of services is subject to conflict because of my role as chairman of the company. Even if the company that I chair should require my services, they will have to pay for it in line with policy,” he said.

Ndeutepo said the union’s majority’s leadership were in charge when the projects took place.

“The union just held its congress last year with minimal changes in leadership. The majority of leaders were in leadership when the trust was undertaking these projects. Why did they choose to provide you with incomplete information as they have all the answers you are requesting from me. I cannot tell you why the trust decided to make use of my services,” he said.

Ismael Kasuto


MUN acting president Poco Mberiuana issued a statement on Thursday accusing former president Kasuto of illegally withdrawing N$250 000 from the union’s trust account.

Mberiuana claims the N$250 000 was transferred to a local law firm for Kasuto’s benefit.

However, Kasuto told The Namibian the funds were meant to help the union.

Mberiuana’s camp in the union appears to be fighting Kasuto and his right-hand man, Samsob, who is the former vice president of MUN.

Samsob, speaking to The Namibian last week, asked the union to explain where the missing millions were.

“Some of them have benefited a lot from the money that belongs to the union. Let them open the books so that we can see these allegations. My removal will not silence the financial abuse at MUN and its investment arm,” he said.


The Namibian reported last year that the MUN was under scrutiny after an audit revealed how they spent N$18 million between 2015 and 2021.

Audited financial reports spanning 2015 to 2021 disclosed a series of challenges related to financial transactions, membership fees and expenses.

The audit report, seen by The Namibian, also highlights recurring issues surrounding revenue accuracy, the lack of proper documentation for expenditure and challenges in assessing the value of investments, which stem from the tenure of former MUN president Raimo Hausiku, who died in 2016.

The audit was conducted by Windhoek-based company Strategis Registered Accountants and Auditors, who highlighted the unreliability of the system and controls over membership fees which hindered audit procedures.

Thus, the auditors were unable to satisfy themselves as to the completeness and accuracy of the accounting records.

The auditors also found that membership fee controls were inadequate, hindering audit procedures. Income from donations could also not be fully controlled until entered into accounting records.

In the 2017 financial year, the regional budget and expenditure documents were missing, affecting audit verification.

In addition, loan agreements with Nam-Prop Loan and schedules amounting to N$350 500 were unavailable for audit verification.
For the 2018 financial year, expenses of N$8,1 million lacked supporting documents and value-added tax reconciliation discrepancies of N$406 000.

The auditors also found N$2,6 million in expenses in the 2019 financial year which lacked supporting documents. In 2020, the auditors noted expenses of N$2,2 million lacked supporting documents.

The following year, there were no supporting documents for audit verification of how N$4,1 million was spent. MUN could not find bank statements and schedules for investments worth N$2,2 million, which were unavailable for verification.

This article was produced by The Namibian’s investigative unit. Email us news tips from your secure email:

The post Mineworkers investment board chair rakes in N$2m from union appeared first on The Namibian.

Current track