Namibian First Lady Monica 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 yesterday 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.

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.

WINDHOEK; Namibia recorded a trade deficit of N.dollars 26,2 billion in 2014, compared to N.dollars 17,2 billion in 2013.

Senior Statistician at the Namibia Statistics Agency (NSA) Elijah Saushini revealed this yesterday at the launch of the Annual Trade Statistics Bulletin 2014 in Windhoek.

He explained that the widening of the trade deficit was reflected in a 23,2 per cent increase in the import Bill from N.dollars 73,6 billion in 2013 to N.dollars 90,6 billion in 2014.

Namibia’s key markets for exports were Botswana (N.dollars 10,7 billion); South Africa (N.dollars 8,4 billion); Switzerland (N.dollars 7,8 billion); Korea (N.dollars 5,8 billion) and Angola (N.dollars 4,7).

The commodities mostly exported were precious stones (diamonds), ships, boats and floating structures, ores, fish and copper.