The Namibian government has assets worth N$11.9 billion as of 16 September, Finance minister Iipumbu Shiimi has revealed.
Of this, the state has movable assets amounting to N$3.9 billion, which include stock, equipment, furniture and vehicles while immovable assets, including land, plants (factories) and buildings stand at N$7.9 billion. The combined total value of movable and immovable assets is N$11.9 billion.
The government’s value of immovable asset consists of 692 farming units and 744 housing units.
“With regards to resettlement farms, to date Government has spent about N$2.3 billion to acquire about 558 farming units measuring about 3,376,965 hectares and all are recorded in the electronic registry,” said the Finance minister.
Shiimi also revealed that the state is facing many challenges regarding the maintenance of its assets due to non-compliance and adherence to procedures set out in the legal framework by various government entities and agencies.
“The government offices ministries or agencies (OMAs) also take too long to approach Treasury for disposal of unused, damaged, redundant and obsolete assets. Another serious challenge associated with mismanagement of state assets is the staff turnover of trained staff and consequently the shortage of staffs at some OMAs.”
Shiimi said his ministry will work together with the Ministry of Works and Transport to review the management of the government’s assets, “with a view of completing the migration of all assets into the electronic register within a period of two years, as well as introducing a maintenance plan by the Ministry of Works and Transport.”
The revelation of the value of the state’s assets comes after Works Minister, John Mutorwa, according to media reports, inquired, last year why state property was being sold so cheaply.
This followed media reports that houses owned by the state in Windhoek with market values of N$1.8 million, were being sold to senior government officials for N$336,000 while other houses in suburban areas where allegedly being sold for N$250,000
“We intend to continue providing asset management and inventory training to OMAS in order to encourage compliance and adherence to the rules and regulations,” Shiimi said.