Enock Kamushinda faces a third auction for Windhoek properties

Two Windhoek properties tied to the SME Bank scandal are heading to auction for the third time after previous winning bidders ghosted on payment.

The debt behind the auctions

• Enock Kamushinda owes N$140 million to SME Bank liquidators under a 2021 High Court settlement.
• Interest stacks at 20% per annum on top of that figure.
• Kamushinda coughed up only N$3 million before refusing further payments.
• SME Bank collapsed into insolvency back in 2017 after N$247 million allegedly vanished.

Properties on the block

• Monsoon Investments CC owns an 11-bedroom Kleine Kuppe residence with a pool and covered braai area.
• Harrogate Investments holds a 1,498-square-metre property in Windhoek's Eros area.
• Both entities are linked to Kamushinda's corporate interests.

Why is this attempt number three

• Winning bidders at both prior auctions failed to pay up after bidding closed.
• Liquidators are now requiring upfront deposits to prevent repeat no-shows.
• N$150,000 must hit the deputy sheriff's trust account for the Kleine Kuppe property.
• Eros bidders need N$300,000 deposited before the March 17 auction starts.