![751 x 439 (3)](https://investigations.namibian.com.na/wp-content/uploads/2020/04/751-x-439-3.jpg)
By Lazarus Amukeshe, Nghinomenwa Erastus and Shinovene Immanuel | 22 April 2020
NEWLY appointed Bank of Namibia governor Johannes !Gawaxab said his investment companies are not regulated by the central bank nor dominate the financial market, but he will ensure he is not conflicted when he takes charge.
The 64 year-old !Gawaxab is a player in the Namibian economy which he is set to regulate in his new position.
He has been a fund manager, involved in education, manufacturing and a funeral undertaking.
President Hage Geingob announced !Gawaxab’s appointment yesterday, saying he will complete former governor Iipumbu Shiimi’s remaining term of 18 months which ends in December 2021.
Geingob said !Gawaxab’s experience in the financial sector spanning 27 years is needed.
“I have confidence in your abilities to execute the demanding tasks before you,” the president said.
Geingob said he hopes the new governor will work closely with finance minister Iipumbu Shiimi when he takes office on 1 June 2020.
CENTRAL BANK BUSINESSMAN
!Gawaxab co-founded Eos Capital Namibia in 2015, a company that manages about N$93,8 million of the Government Institutions Pension Fund money through privately-owned Allegrow Fund.
Investments under Gawaxab’s Eos Capital includes Elso Holdings, Fabupharm (Pty) Ltd, Welwitschia Private School, former Avbob Namibia [now Nambob], Heat Exchange Products & Namibia Aqua Mechanica and other smaller companies.
!Gawaxab yesterday told The Namibian his business interests are not in conflict with his job at the central bank.
“My firm is a private equity firm. We don’t play in the capital market. We are not on the stock exchange, bond market or participating in the money market,” he said.
According to Eljota Investments Namibia’s website !Gawaxab is also its founder and principal officer.
Eljota is an asset management company dealing in government bonds among other financial products.
The former Air Namibia manager said he will quit directorship on all boards in and outside of the country within the next six weeks as dictated by the Bank of Namibia Act.
“The Bank of Namibia Act is quite clear, the governor should not have conflicting interests,” !Gawaxab said.
“I have responded to serve the nation and accepted. I decided to subordinate self-interest to national interest,” he said.
He said he will ensure businesses like Eos Capital do not clash with his new mandate.
“Eos Capital is an unlisted fund management, a private equity fund that buys in little companies. We are not buying government bonds, treasury bills [and] we are not playing in that market,” he said.
!Gawaxab insisted all six his companies have nothing to do with the bond or capital market.
Geingob’s decision to appoint !Gawaxab ends a long-held history of appointing assistant governors to run Namibia’s central bank.
Former central bank chief Tom Alweendo was appointed as governor after serving as a deputy from 1993 to 1996.
Shiimi served as assistant governor from 2006 to 2010 when he was promoted.
Current Bank of Namibia assistant governor Ebson Uanguta, who deputised as Shiimi’s assistant since 2010, appears to have been sidelined.
Geingob’s administration changed the law in February this year to remove the clause that prohibited a person over the age of 65 to lead the Bank of Namibia.
The Bank of Namibia serves as the government’s bank, whose function includes borrowing and servicing national debt on behalf of the state.
It also advises the government on financial issues and is the custodian of the country’s monetary policy.
The central bank also regulates commercial banks to maintain credit and financial stability.
As Bank of Namibia chief, !Gawaxab will now lead the anti-money laundering council which manages the Financial Intelligence Centre (FIC).
The FIC is a key entity in high-profile corruption cases such as the Fishrot scandal.
!Gawaxab is also the chairperson of the high level panel on economic growth. The panel which was appointed in 2019 by president Hage Geingob to initiate proposals on how the government could address a multitude of economic challenges in the country.
REACTION
Several economists declined to comment on !Gawaxab’s appointment.
Namibia University of Science and Technology economics lecturer Eden Shipanga said !Gawaxab’s background in leading the southern African Old Mutual conglomerate provides some hope of recovering the local economy.
“However, his late involvement in the affairs of the Social Security Commission leaves one with mixed feelings as to whether he is still the same principled man who was among the top leading executives this country could have ever produced,” he said.
“In the current administration, it seems everyone is losing their honesty and principles, and begins to dance to the tunes of political spheres of the world,” he said.
Despite that, Shipanga called for !Gawaxab to be given the benefit of the doubt.
Senior lecturer at the University of Namibia, Omu Kakujaha-Matundu, who also served on the central bank board of directors, said !Gawaxab brings a wealth of business experience to the bank, “but I don’t think he knows much about central banking”.
He added that the businessman, unfortunately, comes at a time when central banks are pivotal in crafting stimulus packages amid Covid-19.
Matundu said having an individual with a lot of local business interests could lead to self-interested rent-seeking decisionmaking and policies.
Local economist Indileni Nanghonga said !Gawaxab’s appointment did not come as a surprise.
“I think the knowledge and past experience he has on the market will come in handy,” she said.
BLAST FROM THE PAST
!Gawaxab’s record at running parastatal boards has been under scrutiny at entities such as the Social Security Commision and the National Petroleum Corporation of Namibia.
In 2016, his tenure at the Social Security Commission was marred with allegations that he took part in discussions of a N$46 million contract that involved a Chinese state-owned company which partnered with his daughter Taschiona.
That same year, the government approved the transfer of N$11,3 million from the Social Security Commission for the “struggle kids”.
In 2017, !Gawaxab insisted the commission did nothing wrong when it paid N$36 million for plots estimated to be worth N$15 million.
The former Old Mutual Africa boss maintained he turned around the national oil company’s financial fortunes.
The Namibian reported three years ago !Gawaxab’s daughter Taschiona, who is currently a board member at MTC, which is set to sell its shares to the public, allegedly tried to benefit from the N$23 billion Kudu gas project but failed.
!Gawaxab denied the allegations at the time.
pin-up oyunu: pin-up oyunu – pin-up oyunu
pin up casino az https://azerbaijancuisine.com/# pin up apk yukle
pin up casino azerbaycan
mexico drug stores pharmacies: mexican pharmacy online – pharmacies in mexico that ship to usa
mexican rx online [url=https://northern-doctors.org/#]mexican drugstore online[/url] buying prescription drugs in mexico
https://northern-doctors.org/# mexico drug stores pharmacies
http://northern-doctors.org/# pharmacies in mexico that ship to usa
pharmacies in mexico that ship to usa: northern doctors – mexican drugstore online
https://northern-doctors.org/# mexico drug stores pharmacies
mexican pharmaceuticals online: northern doctors – п»їbest mexican online pharmacies
mexican online pharmacies prescription drugs: mexico pharmacies prescription drugs – pharmacies in mexico that ship to usa
mexican drugstore online: mexican online pharmacies prescription drugs – pharmacies in mexico that ship to usa
https://northern-doctors.org/# п»їbest mexican online pharmacies
п»їbest mexican online pharmacies: mexican pharmacy northern doctors – mexico drug stores pharmacies
pharmacies in mexico that ship to usa: mexico pharmacies prescription drugs – mexican drugstore online
http://northern-doctors.org/# mexican drugstore online
mexican rx online: purple pharmacy mexico price list – reputable mexican pharmacies online
buying prescription drugs in mexico online [url=https://northern-doctors.org/#]mexican pharmacy online[/url] medicine in mexico pharmacies
https://northern-doctors.org/# mexico pharmacies prescription drugs
mexican rx online: Mexico pharmacy that ship to usa – buying prescription drugs in mexico
mexican pharmacy: mexican pharmacy northern doctors – purple pharmacy mexico price list
reputable mexican pharmacies online [url=https://northern-doctors.org/#]northern doctors[/url] mexican border pharmacies shipping to usa
п»їbest mexican online pharmacies: mexican pharmacy northern doctors – mexico drug stores pharmacies
https://northern-doctors.org/# best online pharmacies in mexico
mexico pharmacy: mexican border pharmacies shipping to usa – mexico drug stores pharmacies
https://northern-doctors.org/# best online pharmacies in mexico
medication from mexico pharmacy: mexican northern doctors – mexico drug stores pharmacies
mexican mail order pharmacies: northern doctors – mexico pharmacy
https://northern-doctors.org/# medicine in mexico pharmacies
best online pharmacies in mexico: mexican pharmacy – mexico pharmacies prescription drugs
mexican pharmaceuticals online [url=http://northern-doctors.org/#]mexican northern doctors[/url] pharmacies in mexico that ship to usa
http://northern-doctors.org/# medication from mexico pharmacy
https://northern-doctors.org/# mexican drugstore online
medicine in mexico pharmacies: mexican pharmacy northern doctors – purple pharmacy mexico price list
buying prescription drugs in mexico online: northern doctors pharmacy – pharmacies in mexico that ship to usa
https://northern-doctors.org/# purple pharmacy mexico price list
buying prescription drugs in mexico online: northern doctors – medicine in mexico pharmacies
medication from mexico pharmacy: mexican pharmacy – buying from online mexican pharmacy
http://northern-doctors.org/# medicine in mexico pharmacies
buying prescription drugs in mexico [url=https://northern-doctors.org/#]northern doctors[/url] medication from mexico pharmacy
mexican pharmacy: northern doctors pharmacy – mexican mail order pharmacies
medication from mexico pharmacy: northern doctors – mexican drugstore online
mexican pharmacy: northern doctors pharmacy – pharmacies in mexico that ship to usa
https://northern-doctors.org/# mexico drug stores pharmacies
mexican pharmacy: mexican pharmacy – mexican mail order pharmacies
buying prescription drugs in mexico online: northern doctors pharmacy – mexican online pharmacies prescription drugs
mexico pharmacies prescription drugs [url=https://northern-doctors.org/#]northern doctors[/url] mexico drug stores pharmacies
https://northern-doctors.org/# best online pharmacies in mexico
mexico pharmacies prescription drugs: medicine in mexico pharmacies – mexican border pharmacies shipping to usa
best online pharmacies in mexico: northern doctors – mexican drugstore online
http://northern-doctors.org/# mexico drug stores pharmacies
http://cmqpharma.com/# pharmacies in mexico that ship to usa
buying prescription drugs in mexico online
pharmacies in mexico that ship to usa [url=https://cmqpharma.com/#]online mexican pharmacy[/url] mexican online pharmacies prescription drugs
buying prescription drugs in mexico [url=https://cmqpharma.com/#]mexican pharmacy online[/url] п»їbest mexican online pharmacies
reputable mexican pharmacies online [url=https://cmqpharma.online/#]cmqpharma.com[/url] mexican drugstore online
mexican online pharmacies prescription drugs [url=https://cmqpharma.online/#]cmqpharma.com[/url] buying prescription drugs in mexico
medication from mexico pharmacy
http://cmqpharma.com/# mexican border pharmacies shipping to usa
mexican pharmaceuticals online
medicine in mexico pharmacies [url=http://cmqpharma.com/#]cmqpharma.com[/url] best online pharmacies in mexico
reputable mexican pharmacies online: mexico pharmacy – buying prescription drugs in mexico online
mexico pharmacy [url=https://cmqpharma.com/#]cmq pharma[/url] buying prescription drugs in mexico online
mexico pharmacy [url=http://cmqpharma.com/#]cmq pharma mexican pharmacy[/url] п»їbest mexican online pharmacies
mexican rx online [url=http://cmqpharma.com/#]mexico pharmacy[/url] mexican drugstore online
mexico drug stores pharmacies [url=http://cmqpharma.com/#]mexico pharmacy[/url] mexican mail order pharmacies
https://cmqpharma.com/# mexican border pharmacies shipping to usa
mexican mail order pharmacies
mexican online pharmacies prescription drugs [url=http://cmqpharma.com/#]cmqpharma.com[/url] best online pharmacies in mexico
mexican border pharmacies shipping to usa: mexico pharmacy – mexico pharmacy
buying prescription drugs in mexico
http://cmqpharma.com/# п»їbest mexican online pharmacies
mexico drug stores pharmacies
mexican pharmaceuticals online
http://cmqpharma.com/# pharmacies in mexico that ship to usa
medicine in mexico pharmacies
pharmacies in mexico that ship to usa: cmq mexican pharmacy online – п»їbest mexican online pharmacies
indian pharmacy: reputable indian pharmacies – cheapest online pharmacy india
best rated canadian pharmacy: canadian pharmacy in canada – reputable canadian online pharmacies
https://foruspharma.com/# mexico drug stores pharmacies
best canadian pharmacy to order from [url=https://canadapharmast.online/#]real canadian pharmacy[/url] canadian pharmacy cheap
purple pharmacy mexico price list: medication from mexico pharmacy – buying prescription drugs in mexico online
buying from online mexican pharmacy: medicine in mexico pharmacies – buying prescription drugs in mexico
reputable mexican pharmacies online: mexico drug stores pharmacies – buying prescription drugs in mexico online
rate canadian pharmacies [url=http://canadapharmast.com/#]canadian pharmacy checker[/url] canadian compounding pharmacy
https://canadapharmast.online/# canadian pharmacy online
india online pharmacy: reputable indian pharmacies – india pharmacy
canada pharmacy reviews: best canadian online pharmacy reviews – legal canadian pharmacy online
canadian pharmacy 24 com: legitimate canadian pharmacy online – reliable canadian online pharmacy
canadian pharmacies that deliver to the us [url=http://canadapharmast.com/#]best canadian pharmacy[/url] canadian pharmacy king
п»їlegitimate online pharmacies india: india pharmacy – reputable indian pharmacies
https://canadapharmast.com/# safe canadian pharmacies
best india pharmacy: cheapest online pharmacy india – online shopping pharmacy india
top 10 online pharmacy in india: world pharmacy india – buy medicines online in india
buy prescription drugs from india: indian pharmacies safe – buy medicines online in india
https://amoxildelivery.pro/# how much is amoxicillin
buy generic ciprofloxacin [url=http://ciprodelivery.pro/#]buy cipro[/url] ciprofloxacin generic
https://doxycyclinedelivery.pro/# doxycycline order online
order cheap clomid without dr prescription: where to buy cheap clomid prices – where can i buy generic clomid pill
https://paxloviddelivery.pro/# paxlovid cost without insurance
https://ciprodelivery.pro/# cipro ciprofloxacin
doxycycline uk cost [url=https://doxycyclinedelivery.pro/#]doxycycline 50mg[/url] doxycycline 100 mg pill
where to buy amoxicillin 500mg: how to buy amoxycillin – amoxicillin where to get
https://paxloviddelivery.pro/# Paxlovid over the counter
http://clomiddelivery.pro/# how can i get generic clomid without prescription
Paxlovid buy online [url=http://paxloviddelivery.pro/#]buy paxlovid online[/url] paxlovid buy
https://clomiddelivery.pro/# where buy clomid
where can i buy cipro online: buy generic ciprofloxacin – buy ciprofloxacin over the counter
http://paxloviddelivery.pro/# paxlovid price
п»їcipro generic [url=https://ciprodelivery.pro/#]antibiotics cipro[/url] ciprofloxacin 500mg buy online
https://ciprodelivery.pro/# buy cipro online
http://paxloviddelivery.pro/# п»їpaxlovid
where can i buy clomid without a prescription [url=http://clomiddelivery.pro/#]where to buy generic clomid without a prescription[/url] get cheap clomid online
http://amoxildelivery.pro/# amoxicillin 500 coupon
amoxicillin 500mg price in canada: where can i buy amoxicillin over the counter – where to buy amoxicillin pharmacy
http://amoxildelivery.pro/# amoxicillin order online
http://paxloviddelivery.pro/# paxlovid pharmacy
paxlovid pharmacy [url=https://paxloviddelivery.pro/#]paxlovid buy[/url] paxlovid pill
buy cheap clomid price: buy clomid pills – cost clomid without a prescription
http://doxycyclinedelivery.pro/# doxycycline australia
https://paxloviddelivery.pro/# paxlovid pill
п»їcipro generic [url=http://ciprodelivery.pro/#]buy ciprofloxacin[/url] where can i buy cipro online
http://amoxildelivery.pro/# purchase amoxicillin 500 mg
generic for amoxicillin: amoxicillin 500mg capsule buy online – amoxicillin 500mg price
http://paxloviddelivery.pro/# paxlovid generic
Paxlovid over the counter [url=http://paxloviddelivery.pro/#]paxlovid pill[/url] Paxlovid over the counter
buy cipro: buy cipro online canada – cipro 500mg best prices