Former Namibian President Sam Nujoma faces questions about a valuable coastal property deal with Spanish businessman José Bastos. Representatives of the founding president want answers about whether Bastos cheated him from profits on a luxury development project. The dispute centers on a 5,000 square meter piece of land near Walvis Bay that the city government gave to Nujoma for free back in 2007. Nujoma later partnered with his friend Bastos to build expensive apartments on the oceanfront site. The two men apparently agreed to split the money from the project.
Bastos built nearly 10 luxury units on the land along Millionaires Lane overlooking the Atlantic Ocean. Nujoma received just one apartment from the development called Presidential Suites. People close to the former president believe he should have gotten much more from the deal worth millions of dollars. Bastos gave Nujoma legal permission to develop the property through a company the president controlled. The businessman recently claimed he always controlled the land despite records showing the city donated it to Nujoma.
The property dispute adds to growing concerns that people close to Nujoma used his name for personal business gains. Earlier reports showed Bastos claiming he paid fishing company profits meant for the Sam Nujoma Foundation directly to the former president instead. Foundation leaders say they remain unaware of funds they should have received. The controversy highlights potential misuse of the respected leader's reputation for private financial benefit.
Bastos built nearly 10 luxury units on the land along Millionaires Lane overlooking the Atlantic Ocean. Nujoma received just one apartment from the development called Presidential Suites. People close to the former president believe he should have gotten much more from the deal worth millions of dollars. Bastos gave Nujoma legal permission to develop the property through a company the president controlled. The businessman recently claimed he always controlled the land despite records showing the city donated it to Nujoma.
The property dispute adds to growing concerns that people close to Nujoma used his name for personal business gains. Earlier reports showed Bastos claiming he paid fishing company profits meant for the Sam Nujoma Foundation directly to the former president instead. Foundation leaders say they remain unaware of funds they should have received. The controversy highlights potential misuse of the respected leader's reputation for private financial benefit.
