By Eliaser Ndeyanale | 24 June 2025
Businessman Josè Bastos (89) admits paying former president Sam Nujoma dividends from a fishing company, sparking questions about the Sam Nujoma Foundation’s knowledge and involvement.
The Namibian understands that some figures within the Sam Nujoma Foundation are pointing fingers at Bastos and John Nauta, a former aide to Nujoma, for allegedly keeping the foundation in the dark about funds it was reportedly meant to benefit from.
Sam Nujoma Foundation chairperson and former prime minister Nahas Angula says he is not aware of any shares in Bastos’ company. Some sources believe Nujoma’s name was used by individuals to enrich themselves, including through dividends from the fishing company. Bastos and Nauta have denied wrongdoing.
However, the lack of clarity seemingly pushed the Sam Nujoma Foundation to question Bastos about funds it believes are owed to it.
Questions over the dividends from the prominent Walvis Bay businessman have also brought to light the relationship between Nujoma and Bastos – one of the biggest beneficiaries from the founding president’s fishing quota regime.
Nauta confirmed to The Namibian on Friday that he serves as a nominee shareholder for the Sam Nujoma Foundation and that he receives board sitting fees, accommodation and travel expenses from Emeritus Fishing, like other board members.
Asked whether Nauta is a shareholder in the fishing company, Bastos was evasive.
“The company does not keep records for so long . . . It was formed a long time ago,” Bastos says.
THE EMERITUS CONNECTION
Bastos established a company called Emeritus Fishing in 2001. The Spanish fishmonger later brought in the Sam Nujoma Foundation as a shareholder in the company, which benefits from a free government fishing quota.
Speaking to The Namibian last week, Bastos confirmed that the Sam Nujoma Foundation has held a 20% stake in Emeritus Fishing since 2011. Bastos said he personally “donated” the shares to Nujoma.
“They have 20% but I donated it to him (Nujoma) for the foundation of the president,” Bastos said. He added that the company would pay dividends to Nujoma “when he was ready to get his dividends”.
Bastos said he would do this every year for the last 20 years. “I would pay in cheques then they put the cheque in the foundation then they spend the money the way they wanted,” he said.
Nujoma started the foundation in 2005 to support education and social development.
Bastos downplayed the significance of the payments to Nujoma, saying: “There is no story here.”
“You know the founding father was a generous man. I collaborated with him. I gave some shares in my company to him, but he said no, do it in the name of the Sam Nujoma Foundation. From there, he was helping people, building a school and clinic on his farm,” Bastos said.
Bastos initially asked The Namibian to send questions via email, however, the businessman later declined to answer the questions.
“I was not supposed to give any secrets about my company and any business I had with our founding father,” he said.
Bastos insisted that any further explanation should come from Nujoma’s former aide, Nauta, or Nujoma’s son, Utoni Nujoma.
“If I have to clear anything, I will do that with the Sam Nujoma Foundation, which is my partner,” he said.
IN THE DARK, COLLEAGUES
Angula last week told The Namibian that the board of trustees were unaware of the stake or any dividends.
“We are not aware of the shareholding in that company. Financial matters and donations to the foundation are being administered by the secretariat,” Angula said before he referred The Namibian to Kashindi Ausiku, who served in the secretariat of the foundation.
The foundation’s board consists of Angula, former home affairs minister Pendukeni Iivula-Ithana, ex-labour minister Erkki Nghimtina, ex-home affairs minister Albert Kawana and former Okahandja mayor Valerie Aron. Others are Febronia Shapaka and chief of the Witbooi Traditional Authority Hendrick Witbooi.
Efforts to get clarification from the foundation’s secretariat were unsuccessful.
Ausiku has acknowledged receiving questions from The Namibian, but had not responded by the time of publication. He says the queries would be forwarded internally.
Emeritus Fishing is primarily owned and controlled by Bastos through the Bastos Family Trust, which holds the majority of shares.
The company’s other shareholders include Harvard Marine Enterprises and Narraville Elderly Home, which is represented by David Williams. The Sam Nujoma Foundation holds a 20% stake in the company, with its interests are represented by Nauta.
FRIENDS AND FISH
The long-standing relationship between Bastos and Nujoma stretches back decades. Earlier this year, the Namibia Press Agency reported that Bastos described himself as a close friend of the former president, with ties going back 30 years.
The Spanish fisherman has been unapologetic about his dealings with the state.
In 2011, he was quoted in an article by the International Consortium of Investigative Journalists, boasting that “we are over-catching hake, and I don’t have a problem telling the [fisheries] minister this.”
Bastos explained why he was not concerned about breaking the law. “If they are going to fine me, they must fine me.”
Bastos has in the past claimed that his close friendship with Nujoma doesn’t reap him any favours.
Investigative journalist John Grobler, who previously wrote on Nujoma’s relationship with Bastos, says Nujoma’s power had been highly personalised and this made it easy for people like Bastos and others to use his influence to get what they wanted.
Bastos is founder of several hotels and fishing outfits in the country. He was the co-founder of the Welwitschia Hospital at Walvis Bay and the Indira Gandhi Clinic in the Omusati region.
In recent years, he has also fallen victim to scammers.
Between November 2022 and January 2023, Bastos allegedly paid N$2 million to Immanuel Nowaseb who allegedly impersonated president Netumbo Nandi-Ndaitwah and former finance minister Iipumbu Shiimi.
At the time, Nowaseb, masquerading to be Shiimi, allegedly promised Bastos that his company would receive horse mackerel fishing quotas for the 2023, 2024, 2025 and 2026 fishing seasons.
