A Spanish businessman has admitted making dividend payments to Namibia's former president Sam Nujoma through a fishing company. Jose Bastos, who is 89 years old, says he gave money from Emeritus Fishing to Nujoma over many years. The payments have raised questions about whether the Sam Nujoma Foundation knew about the financial arrangement. Some foundation members blame Bastos and former presidential aide John Nauta for hiding the payments. The controversy has exposed the close business ties between the wealthy fisherman and Namibia's founding president.
Foundation chairman Nahas Angula says board members did not know about any company shares or dividend payments. The foundation's leadership includes former government ministers and other prominent figures. Angula directed questions to the foundation's secretariat for answers about financial matters. Other board members have remained silent about the alleged secret payments. The foundation was created to support education and social development projects across Namibia.
Bastos started Emeritus Fishing in 2001 and later brought the Sam Nujoma Foundation into the business. The foundation holds a 20 percent stake in the fishing company since 2011. Bastos claims he personally donated these shares to Nujoma for foundation use. The businessman says he paid dividends directly to the former president each year. Nujoma would deposit the money into foundation accounts for various projects.
The 30-year friendship between Bastos and Nujoma has benefited the Spanish businessman's fishing operations. Bastos has bragged about breaking fishing laws without facing serious consequences. He recently fell victim to scammers who stole two million Namibian dollars from him.
Foundation chairman Nahas Angula says board members did not know about any company shares or dividend payments. The foundation's leadership includes former government ministers and other prominent figures. Angula directed questions to the foundation's secretariat for answers about financial matters. Other board members have remained silent about the alleged secret payments. The foundation was created to support education and social development projects across Namibia.
Bastos started Emeritus Fishing in 2001 and later brought the Sam Nujoma Foundation into the business. The foundation holds a 20 percent stake in the fishing company since 2011. Bastos claims he personally donated these shares to Nujoma for foundation use. The businessman says he paid dividends directly to the former president each year. Nujoma would deposit the money into foundation accounts for various projects.
The 30-year friendship between Bastos and Nujoma has benefited the Spanish businessman's fishing operations. Bastos has bragged about breaking fishing laws without facing serious consequences. He recently fell victim to scammers who stole two million Namibian dollars from him.
