Andrew Kathindi

Fishcor’s bank accounts have been unfrozen by the Bank of Namibia (BON), temporary Board chairperson Heinrich Mihe Gaomab II has revealed.

“The Board informs the public on the positive developments of the unfreezing of the account of Fishcor to attend to its urgent and pressing financial and operational matters,” stated Gaomab II.

The Financial Intelligence Centre (FIC) through BoN had frozen the corruption tainted state-owned enterprise’s accounts for breaking banking exchange regulations, according to reports.

An investigation was launched in this matter.

“Fishcor express it’s full confidence to the integrity of the investigations and express its continued cooperation to the investigations launched against the accounts associated with Fishcor, and further maintains its support to the ethical pursuit and regulatory intervention of any investigations due in terms of the governance mandate bestowed upon the Temporary Board in terms of Section 10 of the Public Enterprise Governance Act, No 1 of 2019.”

According to Gaomab II, BON had blocked the accounts of the National Fishing Corporation of Namibia (Fishcor) in terms of Regulation 22A(1)(b) of the Exchange Control Regulations of 1961 because the Bank informed Fishcor on reasonable grounds to investigate accounts related to the violation of the Exchange Control Regulations of 1961.

Fishcor is currently at the centre of the on-going Fishrot scandal where it is alleged that millions of state funds where illegally funneled from the company.