Renthia Kaimbi
Former Ongopolo Mining managing director Andre Neethling has defended the sale of company properties. He said the transactions were lawful, approved by the board and intended to keep the business afloat.
His comments follow a Windhoek Observer report detailing allegations that former executives sold multi-million-dollar assets for “pennies” during liquidation, leaving the Government Institutions Pension Fund (GIPF) and the Tsumeb community without recovery.
Neethling said the criticism ignores the facts. He provided a timeline, stating that Tsumeb Corporation Limited was in liquidation from 29 April 1998 to 13 March 2000.
Ongopolo later operated with its own capital and a GIPF loan and adopted a cost-reduction plan that included outsourcing non-core functions and promoting employee homeownership.
“Hostels became redundant,” he said.
He explained that the Endombo hostel was first offered in 2002 to Nammic and Labour Investment Holding, which represented unions on Ongopolo’s board, but neither expressed interest.
Neethling said all sales were handled through the board of directors and were advertised.
When former property manager Christo Groenewaldt submitted the highest offer of N$1 million, the offer became contentious. The board then instructed Neethling to delay the decision and advertise the property again.
“At closure, there was no interest from anybody to buy the hostel,” he said.
The board then advised him to ask Groenewaldt not to lower his offer.
“He honoured his first bid and acquired the hostel legally,” Neethling said.
Groenewaldt earlier told the Windhoek Observer that he bought the hostel from Weatherly International and not directly from Ongopolo.
Responding to wider claims of improper enrichment, Neethling said critics are pushing a narrative shaped by ignorance or political motives.
He said Ongopolo urgently needed funds and that the property sales were a board-directed strategy to support operations.
“People are complaining without having the facts. It became a political issue, which resulted in huge financial losses. Ongopolo needed the money to fund the company,” he said.
He rejected claims that he benefited unfairly. Neethling said he bought the former managing director’s residence, known as the Wit Huis, at market value through a board resolution, as employees were permitted to do.
He added that he only acquired two erven during the Weatherly auction.
On the former TCL hospital, he said his company held a 6% shareholding and kept the facility running for 25 years at break-even.
He explained that the hospital was later sold during liquidation in 1999 with High Court approval to a third party, which then closed it.
Dismissing the allegations, Neethling said someone is trying to stir up an issue where none exists and suggested that there may be an agenda behind the claims.
He described the situation as an old tactic and said he is accustomed to such forms of propaganda.
