Geingos’s wealth primarily in equity

WINDHOEK: Namibian First Lady Monica Geingos says her assets worth between N.dollars 45 million and N.dollars 60 million are primarily in equity, while President Hage Geingob’s wealth is mostly accumulated from his salary and property.

She said this on Wednesday when the pair voluntarily declared their personal assets publicly.

Geingos holds shares in Ebank; Stimulus Investments Limited, as well as Pointbreak Property Unit Trust Management Company.

“There are other assets as well. The range of my equity assets is between N.dollars 35 million to N.dollars 45 million. In terms of property and bank balances, that ranges between N.dollars 10 million and N.dollars 20 million,” she said.

The First Lady could not give a specific figure, explaining that her wealth is created through different means.

On his part, Geingob, who is worth about N.dollars 50 million, said that he will also declare assets that he would accumulate during his term of office.

He said conspiracies out there have it that he will accumulate more riches during his term of office, and made it clear that he has no problem to declare such assets during his tenure any time the public expects him to.

The Namibian leader explained that he is not required to declare assets according to the country’s Constitution, and in the same vein defended speculations that he did not make public all of his assets.

“I could keep these assets because its mine. I am not required to declare anything by Constitution. I am standing here giving you my bank balances, now you are saying it will be a proxy. Bring the proxies; do your homework and expose me,” Geingob responded.

Meanwhile, the National Unity Democratic Organisation (Nudo) expressed appreciation to Geingob for declaring his assets openly.

“This day will go down in Namibian history as the day when the first citizen of this country took a bold step and decided to position Namibia as a country that shine and adhere to principles of accountable governance,” the party’s spokesperson Joseph Kauandenge said in a statement issued here on Wednesday.

He urged all other politicians across the country to follow Geingob’s example and declare their assets as well.

SOURCE: NAMPA