Transnamib picked RedForce Debt Management to hunt down over N$100 million owed to the railway company! The railway giant's debt book exploded from N$75 million reported earlier after they wrote off N$25 million as bad debt. They signed RedForce to a 12-month contract through a request-for-proposals method instead of open bidding - making industry competitors absolutely furious!
Some angry companies plan to challenge this deal in court. RedForce denied the tender equals N$100 million, saying they'll just earn commission on whatever debts they recover. Qaurtle Debt Collection fired off an angry letter to Transnamib boss Desmond van Jaarsveld questioning the entire process. They checked three major newspapers but couldn't find any public advertisement for this tender. Even more infuriating for them - they rent space from Transnamib but weren't considered!
Transnamib claimed they simply contacted four firms they already knew: RedForce, Blake, Revenue Solutions, and Norman Bisset. The cash-strapped railway company has struggled financially for a long time. The government previously erased N$410 million in debt for them and helped secure a massive N$2.6 billion loan agreement last year from development banks for new locomotives.
Some angry companies plan to challenge this deal in court. RedForce denied the tender equals N$100 million, saying they'll just earn commission on whatever debts they recover. Qaurtle Debt Collection fired off an angry letter to Transnamib boss Desmond van Jaarsveld questioning the entire process. They checked three major newspapers but couldn't find any public advertisement for this tender. Even more infuriating for them - they rent space from Transnamib but weren't considered!
Transnamib claimed they simply contacted four firms they already knew: RedForce, Blake, Revenue Solutions, and Norman Bisset. The cash-strapped railway company has struggled financially for a long time. The government previously erased N$410 million in debt for them and helped secure a massive N$2.6 billion loan agreement last year from development banks for new locomotives.
