Tomorrow marks the auction of three Windhoek properties tied to Zimbabwean banker Enock Kamushinda. He failed to return N$140 million taken from the closed Namibian Small and Medium Enterprises Bank. Lawyer Corlia Maritz confirmed the auction plans. She represents the SME Bank liquidators Bruni and McLaren throughout these proceedings.
Liquidators struck a deal with Kamushinda in January 2021. The agreement required him to pay back N$140 million plus 20% yearly interest starting March 26, 2021. This money represents just part of N$247 million allegedly stolen from the bank. The High Court made this agreement official through a court order dated January 25, 2021.
Kamushinda stopped making payments, forcing liquidators to take legal action. They gained permission to grab and sell his assets at auction. These assets include his shares and membership stakes in three different companies. Each company holds valuable real estate. Maritz explained that one property sits in Eros, with two others located at Klein Kuppe.
These places belong to Kamushinda's business ventures called Harrogate Investments, Windhoek Golf Estate Number Thirty-Seven CC, and Monsoon Investments CC. Once serving as former Zimbabwean president Robert Mugabe's banker, Kamushinda paid just N$3 million before questioning the agreement's legality. Court papers filed in Zimbabwe show he claims to have signed only because he feared jail time.
He argues officials threatened him with arrest and deportation to force his signature. Bank liquidators describe him as the mastermind who stole at least N$247 million between December 2013 and December 2016. Emails and court documents tell a different story than his claims. Records show Kamushinda himself started settlement talks through his attorney, Francois Bangamwabo, three years after leaving Namibia.
The agreement carries signatures from Kamushinda, former SME Bank boss Tawanda Mumvuma, and finance department assistant Chiedza Goromonzi. On November 3, 2020, Kamushinda offered N$120 million through his lawyer. He wanted to pay everything at once within 30 days of signing. The SME liquidators rejected this amount as insufficient for the damage caused.
Six days later, his lawyer increased the offer to N$130 million, payable within 60 days after signing. Kamushinda wanted liquidators to drop their larger N$247 million case against him and others. He signed for his Namibian businesses, Crown Finance Corporation and Heritage Investments Holdings. He made a N$1 million payment on March 26, 2021, followed by N$2 million on June 10, 2021.
The payments stopped completely afterward. His former lawyer blamed COVID-19 disruptions in Zimbabwe, citing lockdowns and reduced business hours. They later asked for 120 extra days as restrictions eased. Bruni called this an attempt to avoid consequences. Bangamwabo stated last year he no longer represents Kamushinda, noting their professional relationship ended four years ago.
Liquidators discovered about N$20.8 million transferred from SME Bank to a Johannesburg law firm between 2014 and 2015. This firm belongs to Robert Mhlanga, who served as Mugabe's pilot and trusted friend. His lawyer, Paul Casasola, received N$2 million from these funds. Sources tell The Namibian that Mhlanga quickly settled with Namibian liquidators when they tracked him down in South Africa.
Mhlanga repaid N$18.8 million, but this case reveals how politically connected people exploited a bank meant to help small Namibian businesses. Casasola told The Namibian last year they never knew the money came from stolen Namibian funds. The auction proceeds represent another step toward recovering assets from what investigators describe as a sophisticated theft operation targeting development funds.
Liquidators struck a deal with Kamushinda in January 2021. The agreement required him to pay back N$140 million plus 20% yearly interest starting March 26, 2021. This money represents just part of N$247 million allegedly stolen from the bank. The High Court made this agreement official through a court order dated January 25, 2021.
Kamushinda stopped making payments, forcing liquidators to take legal action. They gained permission to grab and sell his assets at auction. These assets include his shares and membership stakes in three different companies. Each company holds valuable real estate. Maritz explained that one property sits in Eros, with two others located at Klein Kuppe.
These places belong to Kamushinda's business ventures called Harrogate Investments, Windhoek Golf Estate Number Thirty-Seven CC, and Monsoon Investments CC. Once serving as former Zimbabwean president Robert Mugabe's banker, Kamushinda paid just N$3 million before questioning the agreement's legality. Court papers filed in Zimbabwe show he claims to have signed only because he feared jail time.
He argues officials threatened him with arrest and deportation to force his signature. Bank liquidators describe him as the mastermind who stole at least N$247 million between December 2013 and December 2016. Emails and court documents tell a different story than his claims. Records show Kamushinda himself started settlement talks through his attorney, Francois Bangamwabo, three years after leaving Namibia.
The agreement carries signatures from Kamushinda, former SME Bank boss Tawanda Mumvuma, and finance department assistant Chiedza Goromonzi. On November 3, 2020, Kamushinda offered N$120 million through his lawyer. He wanted to pay everything at once within 30 days of signing. The SME liquidators rejected this amount as insufficient for the damage caused.
Six days later, his lawyer increased the offer to N$130 million, payable within 60 days after signing. Kamushinda wanted liquidators to drop their larger N$247 million case against him and others. He signed for his Namibian businesses, Crown Finance Corporation and Heritage Investments Holdings. He made a N$1 million payment on March 26, 2021, followed by N$2 million on June 10, 2021.
The payments stopped completely afterward. His former lawyer blamed COVID-19 disruptions in Zimbabwe, citing lockdowns and reduced business hours. They later asked for 120 extra days as restrictions eased. Bruni called this an attempt to avoid consequences. Bangamwabo stated last year he no longer represents Kamushinda, noting their professional relationship ended four years ago.
Liquidators discovered about N$20.8 million transferred from SME Bank to a Johannesburg law firm between 2014 and 2015. This firm belongs to Robert Mhlanga, who served as Mugabe's pilot and trusted friend. His lawyer, Paul Casasola, received N$2 million from these funds. Sources tell The Namibian that Mhlanga quickly settled with Namibian liquidators when they tracked him down in South Africa.
Mhlanga repaid N$18.8 million, but this case reveals how politically connected people exploited a bank meant to help small Namibian businesses. Casasola told The Namibian last year they never knew the money came from stolen Namibian funds. The auction proceeds represent another step toward recovering assets from what investigators describe as a sophisticated theft operation targeting development funds.
